END OF DAY REPORT EQUITIES, FUTURES & OPTIONS MAY 23rd
US Representative McHenry (R) says the top line disagreement remains on spending and cannot say when negotiations will resume
House Speaker McCarthy says he believes a debt ceiling deal can still be reached before June 1st, via Politico
US House Speaker McCarthy reiterates that we're not putting any debt ceiling plan on House floor that doesn't spend the less than US spent this year, according to Fox News Punchbowl reporter adds comment from McCarthy that he does not see a flat Y/Y, or a 'spending freeze', as a compromise.
ECB's Nagel (hawk) says several more ECB rate hikes are needed to tame inflation; will need to maintain peak rate for a sufficiently long time until inflation has fallen sustainably
Familiarly hawkish rhetoric from the ECB official, who is currently speaking at a CDU event, although we have not heard from him (on policy) in a few weeks.
ECB President Lagarde says rates are to reach "sufficiently restrictive levels"; rates to stay restrictive as long as necessary
They wouldn't let us default, would they?