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What to Watch: Debt Ceiling Headlines, Housing Starts, Building Permits

US TSYS
Wednesday's focus largely on debt ceiling headlines as negotiations continue. House Democrat Leader Jeffries on CNBC said Tuesday talks were positive.
  • President Biden leaves for G7 meeting in Japan today, cuts short second half of trip to resume debt talks, potentially undermining efforts by the administration to strengthen ties in the Pacific, in a bid to counter Chinese influence.
  • CNN has reported that Treasury Secretary Janet Yellen will meet with bank CEOs, including JPMorgan Chase's Jamie Dimon and Citigroup's Jane Fraser on Thursday. The meeting has been previously reported but unconfirmed.
  • Today's economic data (prio, est) limited to Housing Starts (1.42M, 1.40M); MoM (-0.8%, -1.4%) and Building Permits (1.43M rev, 1.43M); MoM (-7.7% rev, 0.0%) at the bottom of the hour.
  • No scheduled Fed speakers today while the Senate Banking Comm will hold a hearing on Fed accountability at 1430ET.
  • Note, Fed Chairman Powell and former Fed Chairman Bernanke will have live discussion on policy this Friday at 1100ET.

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