Morning, Traders!
It is Monday the 5th of June, here are some of the things to look out for today.
Sentiment
In its 15-month effort to control inflation, the June meeting of the Federal Reserve is tipped to be one of the most challenging. Chair Powell is determined to avoid raising interest rates while reassuring the public that work hasn't been completed.
Analysts predict that the ISM services index for May will show consistent growth despite the fact that the effects of Fed rate increases have not yet completely materialized.
After months of disruption, the Treasury Department has been given the all-clear to restart net new debt issuance thanks to President Biden's signing of legislation suspending the federal debt ceiling.
Docket
9:00 AM ET
US S&P Services PMI May Final
Median Forecast: 55.1 | Prior: 55.1 | Range: 55.3 / 55.1
10:00 AM ET
US Factory Orders MoM for April
Median Forecast: 0.8% | Prior: 0.9% | Range: 1.3% / 0%
US ISM Services PMI for May
Median Forecast: 52.4 | Prior: 51.9 | Range: 53.7 / 50.5
11:30 AM ET
US sells $65 bln 3-Month Bills
US sells $58 bln 6-Month Bills
Speakers
10:00 AM ET
ECB's Nagel speaks in Bochum, Germany on 'Is Germany's Business Model in Danger?'
11:15 AM ET
ECB's Wunsch speaks at the Peterson Institute's conference on the macroeconomic implications of climate action
1:30 PM ET
Fed's Mester delivers brief welcome remarks at the Council for Economic Education's National Personal Finance Challenge at the Cleveland Fed.
Text: no. Q&A: no.
Good luck!
