Economic wrap and today's risk events - Westpac
Analysts at Westpac offered an economic wrap and today's risk events.
Key Quotes:
"No major data to report. There were two Fed speakers (both non-voters this year): Williams said the economy is doing well, both domestically and globally, and monetary policy is keeping an even keel; Bullard was more dovish, saying the projected FOMC path may be too aggressive (citing falling inflation expectations and growth stuck around 2% trend), but that balance sheet normalisation should begin.
Event Risk
Australia: RBA Assistant Governor Debelle gives a speech titled “How I Learned to Stop Worrying and Love the Basis” at the BIS Symposium in Basel (23rd May 3:30 AM Sydney time).
US: The Apr Chicago Fed national activity index was last at +0.08 in Mar pointing to marginally above trend growth. This was a fall from +0.27 in Feb, due to slower growth in employment indicators. Fedspeak involves Kashkari giving welcoming remarks followed by a press briefing and Harker speaks to health professionals on how economic wellbeing relates to physical wellbeing."