May 22 • 1M

Debt Ceiling: The Countdown Begins

Stock futures are flat ahead of a quiet day in terms of known events, leaving most of the focus on debt ceiling talks…

The daily podcast discusses the major market activity and economic data release schedule for the day ahead, with a contrarian bent. Also includes regular podcast episodes a day (or more) early and without ads or announcements.
Episode details

Good morning contrarians! It is Monday, May 22.

State of Play

As of 0630 all is pretty quiet:

  • Stock index futures are effectively unchanged, with none moving more than 0.2% from the break-even point;

  • Commodities are down, with copper off 1% and natural gas down 1.6%. WTI crude oil is unchanged at $71.60/barrel;

  • Bonds are seeing a few bids, with the yield on the 2-year down 5 basis points to 4.24% and the 10-year down 3bps to 3.68% (yields move inversely to prices).

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