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What to Watch: Headline Risk

US TSYS
  • Scant data to wrap up the week, Bbg US economic survey for July at 0900ET. Data picks up slightly with S&P Global PMIs. Fed speakers remain in blackout ahead next Wednesday's policy announcement.
  • Limited corporate earnings docket that wraps up by the equity open (Regions Fncl Grp, Comerica, American Express, Schlumberger announced already; waiting for AutoNation, Huntington Bancshares and Roper Technology).
  • That leaves headline watching to keep market's interest ahead the weekend. UN Security Council to meet today to discuss grain deal after Russia terminated Black Sea Initiative yesterday. "WHEAT DOWN 2.7% AS UKRAINE SEEKS GRAIN CORRIDOR CONTINUATION" Bbg.
  • Meanwhile, "RUSSIAN CENTRAL BANK RAISES KEY RATE TO 8.50%; EST. 8.00%" Bbg, while Russian Pres "PUTIN WARNS POLAND OVER AGGRESSION AGAINST BELARUS" Bbg after Polish officials said that Warsaw will relocate more troops close to the border with Belarus, amid reports that Belarusian soldiers were being trained by Wagner mercenaries just a few miles from the border.

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