Good Morning Traders!
It is Thursday 29th of June, here are some things to look out for.
Sentiment
The dollar was steady this morning, and Treasuries fell across the curve, as traders digested Federal Reserve Chair Jerome Powell's hawkish remarks at a conference in Madrid, where he said inflation pressures remain "high." The policy-sensitive two-year note yield rose 5 basis points to 4.76%.
Federal Reserve Chair Jerome Powell spoke early this morning, stating that at least two interest-rate hikes are likely to be needed this year to bring inflation down to the US central bank's 2% target, and acting at consecutive policy meetings isn't "off the table."
One of the reasons US Treasury Secretary Janet Yellen hopes to visit China is to meet with "a new group of leaders," as she reiterated calls for the world's two largest economies to collaborate on critical global challenges.
The Fed's annual stress test was passed by all of Wall Street's biggest banks, clearing a key hurdle towards paying billions of dollars to stockholders - but with a mixed picture for potentially sweetening those rewards.
Docket
08:30 AM ET
US GDP QoQ for Q1-
Median Forecast 1.4% | Prior 1.3% | Range 2.5%/1.3%
US GDP Price Index
Median Forecast 4.2% | Prior 4.2% | Range 4.1%/4.3%
US Core PCE Prices Final for Q1
Median Forecast -1.5M | Prior -3.831M | Range 1.735M/-3M
US Weekly Initial Jobless Claims
Median Forecast 265K | Prior 264K | Range 275K/-255K
Continued Jobless Claims
Median Forecast 1.765M | Prior 1.759M | Range 1.8M/1.75M
10:00 AM ET
US Pending Home Sales Change MoM for May
Median Forecast -0.5% | Prior 0% | Range 1%/-5%
Speakers
10:30 AM ET
ECB's de Cos holds a meeting with banking associations.
12:00 PM ET
BoE's Tenreyro gives a Speech at the Society of Professional Economists, hosted at the Resolution Foundation.
15:00 PM ET
Fed's Bostics peaks on the U.S. economic outlook before the Irish Association of Investment Managers Annual Dinner, and participates in conversation.
Good luck!
