Category: Headlines
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US Chicago PMI (May) 40.4 vs. Exp. 47.0 (Prev. 48.6)
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US Consumer Confidence (May) 102.3 vs. Exp. 99.1 (Prev. 101.3, Rev. 103.7) One year inflation expectations 6.1% (prev. 6.2%)
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US Core PCE Price Index MM * (Apr) 0.4% vs. Exp. 0.3% (Prev. 0.3%)
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White House and Republican debt limit proposals differ now by less than USD 70bln on discretionary spending, according to Reuters sources; contours of US debt limit deal take shape and focused primarily on top-line number Negotiators likely to agree on slimmed-down agreement with just a few key numbers. Sources add, what is likely to emerge will not be a hundreds-page long bill, something that could take lawmakers days to write, read and vote on, but a slimmed-down agreement with a few key numbers. Expectations is negotiators will hammer out top line numbers for discretionary spending, including a number for military spending, but leave lawmakers to dial down finer details.
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Fox’s Pergram’s tweets “The sides are inching closer in the debt ceiling talks. One source familiar with the negotiations would not rule out the possibility of getting an agreement today.” A senior House GOP source told Fox “We still have some things to resolve. We have to see if it’s final, final.”
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US GOP McCaul says it is getting close to a debt deal and it’s down to details now
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Republican negotiators leave the White House after around a 4-hour meeting, according to CNN
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Fed’s Waller (voter) says whether Fed should hike or skip at the June meeting will depend on how the data comes in over the next three weeks; watching labour market data, particularly wages information, and additional inflation numbers in that time
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US S&P Global Composite Flash PMI (May) 54.5 (Prev. 53.4)
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US New Home Sales-Units * (Apr) 0.683M vs. Exp. 0.665M (Prev. 0.683M, Rev. 0.656M)