Category: Headlines
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Philly Fed Non-Manufacturing: Business activity -22.8 (prev. -12.8 M/M), firm-level business activity -16.2 (prev. -0.1)
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US S&P Global Manufacturing PMI Flash (Apr) 50.4 vs. Exp. 49.0 (Prev. 49.2)
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Russian President Putin held a phone call with the Saudi Crown Prince, according to Russian press; expressed satisfaction at the level of OEPC+ cooperation
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Fed could close a loophole that allows some midsized banks to hide losses on securities; “Potential change would reverse 2019 decision to loosen rules for midsize banks”, according to WSJ sources
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How confident are you that the government will sort out the debt ceiling? we could be so screwed…
FED EXPECTATIONS These days it feels like Fed expectations change quicker than the springtime temperatures in Chicago. After JPow’s testimonial we were looking to head towards 6% rates quickly followed by pricing in a chance of rate cuts as early as June, with the funds rate well below 4% by the end of the year. […]
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Fed’s Bowman (voter) says Fed is focused on lowering inflation and strong labour market has made finding workers extremely difficult
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Fed’s Logan (voter) says inflation has been much too high and to assess if we have made enough progress, watching for further, sustained improvement in inflation
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Fed’s Waller (voter, hawk) says with SVB there was no way to process collateral for Discount Window lending fast enough; need to think about how to assess and process collateral faster
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White House says House Speaker McCarthy’s debt plan would hurt manufacturing jobs
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Russian Foreign Minister Lavrov, when asked about the future of the Black Sea grain deal, says almost nothing has been done to address Moscow’s concerns