Morning Juice – US Session Prep
Morning, Traders!
It is Thursday the 9th of May, here are some things to look out for.
Sentiment
US equity futures pointed to a decline on Wall Street as May’s early gains faded. Treasury yields increased.
Contracts for the S&P 500 and Nasdaq 100 both fell 0.2%.
Ten-year Treasuries fell for the second day in a row after a $42 billion sale of 10-year notes met with muted demand.
The recent stock rally is fading as the earnings season winds down, leaving investors to wait for new data to determine how quickly policymakers will be able to begin cutting interest rates.
The pound fell against all of its Group of 10 counterparts after the Bank of England drew closer to lowering interest rates from a 16-year high, with two of the nine committee members voting for lower borrowing costs.
Docket
08:30 ET
US Initial Jobless Claims
Median Forecast: 213k | Prior: 208k | Range: 220k / 207k
10:00 ET
BoC Financial System Review
11:30 ET
US Sells $80 Bln 4-week Bills
13:00 ET
US Sells $25 bln 30-Year Bonds
Speakers
08:15 ET
ECB’s Cipollone gives opening remarks at the seminar ‘The tokenization of financial instruments – prospects for the Italian market,’ organized by CONSOB in Rome, Italy.
Watch here
ECB’s de Guindos gives remarks and participates in a Q&A at Panel Cívico organized by Asociación Panel Cívico in Madrid.
11:00 ET
BoC’s Macklem & Rogers press conference following the Financial System review
Event Details
12:15 ET
BoE’s Pill
Event details here
14:00 ET
Fed’s Daly participates in a fireside chat at George Mason University’s Mercatus Center.
There is no text expected but there will be a Q&A.
Good luck!
