May 13, 2022 06:20 GMT
- Generally the Asian session has seen markets move off of the extremes seen yesterday - the dollar, core fixed income and STIR futures are off their highs while equities have bounced over a couple of percent higher in some markets (NASDAQ futures up over 1% since the close).
- After a busy week for speakers we still more scheduled for today: ECB's de Guindos, Centeno, Nagel and Schnabel as well as the Fed's Kashkari and Mester.
- It's a relatively light day for data today with final inflation prints from France and Spain the most notable releases in the Eurozone and Michigan confidence data the highlight across the pond.
- We also note there were some comments around the US close from Fed's Powell as he said that he's prepared to consider larger rate hikes than the 50bp rate increases the FOMC has signaled are in store for now, after saying at his press conference last week the central bank was not "actively considering" a 75bp move. "I would just say, we have a series of expectations about the economy," he told Marketplace. "If things come in better than we expect, then we're prepared to do less. If they come in worse than when we expect, then we're prepared to do more. Asked if this meant 75bps, he added: "What you've seen is, you've seen this committee adapt to the incoming data and the evolving outlook. And that's what we'll continue to do"