Mindblown: a blog about philosophy.
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MORNING MINUTE EQUITIES, FUTURES & OPTIONS MAY 19th
With less than two weeks to go before the US runs out of cash, optimism is building that both sides of Congress will come together to prevent the unthinkable. Policymakers in Washington hinted yesterday that a bill to raise the US debt ceiling may be put to a vote next week. This encouraging development spurred…
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END OF DAY REPORT EQUITIES, FUTURES & OPTIONS
A slew of hawkish Fed speak caused money markets rates to creep up to a 40% implied June hike while we still await a resolution to the debt ceiling debacle
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US House GOP McHenry says nothing close to being done on debt ceiling talks
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DOOMSDAY SCENARIO, Here’s what could happen if the debt ceiling is breached ?
WHAT IS THE DEBT CEILING EXACTLY? The whole concept of a debt ceiling itself was built by federal lawmakers during World War One. It gave the U.S. Treasury the ability to issue bonds without congressional approval, but only if the total debt of the federal government stayed under a specified “ceiling”. Now every government has…
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US House Speaker McCarthy says he thinks an eventual debt limit bill needs to be on the floor next week, according to Punchbowl’s Sherman “I just believe where we were a week ago and where we are today is a much better place because we’ve got the right people in the room discussing it in a very professional manner with all the knowledge and all the background from all the different leaders and what they want.” Other reports run comments saying “I can see now where a deal can come together”. As well as comments that he is of the view that it is important to have an agreement in principle this weekend.
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US Existing Home Sales (Apr) 4.28M vs. Exp. 4.3M (Prev. 4.44M, Rev. 4.43M)
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Fed’s Logan (voter) says data at this time does not support justifying a pause in June; inflation and employment data in coming weeks could change that view, but not there yet – CNBC citing prepared remarks
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US Philly Fed Business Indx* (May) -10.4 vs. Exp. -19.8 (Prev. -31.3)
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DAY TRADE IDEAS MAY 18th
Emini SP 500, Nasdaq, Emini Dow Jones 18 May, 2023 Emini S&P June broke out of the 60 points range & should meet strong resistance at 4200/4210 again. I am watching to see if a head & shoulders forms on the short term chart, but the neck line is at 4055/4050, so it could be…
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MORNING MINUTE EQUITIES, FUTURES & OPTIONS MAY 18th
optimism is abound about a deal being reached on the debt ceiling and with the US set to run out of money in about two weeks, a deal must be struck soon to avoid total disaster
Got any book recommendations?