PREVIOUS TRADING DAY EVENTS 25 May 2023

Announcements  

It seems that the U.S. is close to having a deal in place regarding the debt ceiling but its not final yet. U.S. President Joe Biden and Kevin McCarthy are closing in on a deal that would raise the governments 31.4 trillion debt ceiling for two years while capping spending on most items according to Reuters. 

Biden said they still disagreed over where the cuts should fall.

I dont believe the whole burden should fall back to the middleclass and workingclass Americans, he told reporters.

House Speaker McCarthy told reporters on Thursday evening the two sides have not reached a deal. We knew this would not be easy, he said.

They have suggested in the past that they would not announce auctions that they did not believe they had the means to settle, Gennadiy Goldberg, senior rates strategist at TD Securities in New York. So I do think thats a positive note.

I dont think everybodys going to be happy at the end of the day. Thats not how the system works, McCarthy said.

Source

httpswww.reuters.commarketsuswhitehouserepublicansseekcloseusdebtceilingdealdeadlinenears20230525

In the week ending May 20th, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 4,000 from the previous weeks revised level. A revision took place because fraudulent applications created resilience bias in the Labour market. 

This is a slight increase but lower than the expected figure. Nevertheless, the…