Economic Breaker Panel: June Update
What’s in Today’s Report:
- Sevens Report Economic Breaker Panel: June Update
U.S. equity futures are flat this morning after wavering between gains and losses overnight as investors continue to digest the whipsaw moves across asset classes since last week’s Fed meeting and look ahead to more commentary from Chair Powell today.
There were no market-moving economic reports overnight.
Today, there is just one economic report to watch: Existing Home Sales (E: 5.715M) but the release is not likely to materially move markets.
That will leave investors focused on the Fed with several officials speaking today including: Mester (10:30 a.m. ET), Daly (11:00 a.m. ET), and Powell (2:00 p.m. ET). Powell’s testimony before Congress this afternoon will be the main event of the session as he is likely to discuss the Fed’s plans to balance rising inflation with the still fragile economic recovery.
Finally, there is a 2-Yr Treasury Note auction at 1:00 p.m. ET that could offer some insight into the market’s expectations for Fed policy as the short end of the yield curve has moved sharply higher since last week’s FOMC meeting.
