Good Morning Traders!
It is Tuesday 30th of May, here are some things to look out for:
Sentiment
The debt-limit agreement reached by President Joe Biden and House Speaker McCarthy enters a critical final stretch, with less than a week to secure congressional approval before a June 5 default deadline.
The debt-limit agreement would reduce spending on some federal government services, but it would only make a minor dent in the roughly $20 trillion in combined budget deficits projected over the next decade.
The government spending cap adds a new headwind to a US economy already beleaguered by the highest interest rates in decades and limited credit availability.
In its joint trade strategy with the United States, the European Union removed explicit references to China as a non-market economy.
Docket
9:00 AM ET
US CaseShiller 20 YoY
Median Forecast -1.7% | Prior 0.36% | Range -1.6%/-2.6%
10:00 AM ET
US CB Consumer Confidence for May
Median Forecast 99 | Prior 101.3 | Range 102.3/95
11:30 AM ET
US sells $63 bln of 3-Month Bills
US sells $56 bln of 6-Month Bills
Speakers
9:00 AM ET
ECB's Holzmann speaks at a high-level meeting of the Austrian National Bank and European Investment Bank.
9:30 AM ET
ECB's Centeno speaks at a conference titled 'Economic Recovery and Uncertainty'
11:45 AM ET
ECB's Villeroy speaks at a FinTech forum in Paris
1:00 PM ET
Fed's Barkin speaks at the NABE monetary policy and outlook webinar series.
Good luck today, Traders!
