END OF DAY EQUITY, ETF, FX, FUTURES & OPTIONS REPORT APRIL 26th
First Republic reportedly to face a curb on Fed borrowings, according to Bloomberg; FDIC considers lowering Bank's ratings if a deal is not reached and the FDIC move would limit FRC's access to Fed facilities
Pimco's CIO Ivascyn says a US default is highly unlikely, but a lot of back and forth negotiations are expected; if US debt ceiling issue persists, it could be another source of credit tightening, increasing the risk of a harder landing
US GOP Rep. Nancy Mace says she's now a yes on the debt ceiling bill
US House Speaker McCarthy reportedly told house republicans the chamber could vote “as soon as today” on the debt limit bill, according to Punchbowl's Sherman
White House says US House Speaker McCarthy cut deal with 'extreme maga' on debt bill
Ukraine President Zelensky, after call with China's Xi, says there will be no peace at the expense of territorial compromises
Not even a 7%+ rise in Microsoft could help the market today. While progress seems to be being made in the debt ceiling clownshow, negotiations could be another source of credit tightening which, in turn will increase the chance of a hard landing. IMO we will be lucky to avoid a complete faceplant let alone something soft and fluffy.