CPI expected to fall and April. Fed speakers also on the calendar him him
the economic calendar is fairly light with Fed speakers and US CPI on tap. The treasury will also issue 10 year notes as it continues its monthly refunding.
- US CPI for April will be released at the bottom of the hour with expectations of -0.8% MoM versus +0.4% last month. Ex food and energy expected at -0.2% versus -0.1% last month. YoY is expected to rise by 0.4% versus 1.5% last month. Ex food and energyYoY is expected to rise by 1.7% versus 2.1% last month
- Real average earnings year on year will also be released at the bottom of the hour with last month coming in at 1.6%. Real average weekly earnings year on year last month rose 0.6%
- Fed's Bullard speaks on the economic outlook at 9 AM ET/1300 GMT
- Fed's Kashkari discusses the economy during coronavirus also at 9 AM ET/1300 GMT
- Fed's Harker discusses the impact of Covid 19 at 10 AM ET/1400 GMT
- Fed's Quarles appears before set Senate Banking Committee also at 10 AM ET/1400 GMT
- ECBs Stournaras on German courts decision at 10:30 AM ET/1430 GMT
- The US treasury will auction off 10 year notes at 1 PM ET/1700 GMT
- The US will release their monthly budget statement for April with expectations of a $-737.0 billion deficit. That compares to a surplus of 160.3 billion a year ago. The tax deferral date was moved to July which decreased tax payments leading to the huge deficit in April.
