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What to Watch: Debt Deal Congressional Hurdles; Jobs Data; Fed Speak

US TSYS
  • US markets have a lot to keep an eye on upon return from extended Memorial Day holiday weekend.
  • Debt deal headline watching: getting Saturday's bipartisan agreement to suspend the debt limit for the next two years through Congress and on President Biden's desk to sign before the June 5 X date.
  • Key employment data: ADP private employment data to be released Thursday, one day later than usual due to the holiday, while May NFP will be released Friday, current median estimate at +190k job gains for May vs. +253k prior.
  • Today's data includes a flurry of housing figures at 0900ET, Conf. Board Consumer Confidence at 1000ET, Dallas Fed Mfg Activity at 1030.
  • Chunky Treasury bill auctions today: $63B 13W, $56B 26W bills at 1130, $50B 161D CMB auction at 1300ET.
  • Scheduled Fed speak: Richmond Fed Barkin, NABE policy outlook webinar at 1300ET. Fed enters policy blackout this Friday at midnight.

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