CDS on treasuries is at a height we've never seen before, while Nasdaq calls are the highest in 8 years.

What happens to the liquidity in risk assets when you suddenly take the fear out of safe assets by passing the debt ceiling? https://t.co/FQUZXdc38m pic.twitter.com/0VZ7msPD1X

— Financelot (@FinanceLancelot) May 24, 2023

US Regional Banks Swap $220bn In Deposits To Soothe Insurance Nerves – FThttps://t.co/chnTFJUWko

— LiveSquawk (@LiveSquawk) May 24, 2023

$PACW PacWest Sells Real-Estate Lending Unit – WSJhttps://t.co/YvW0OlZhXU

— LiveSquawk (@LiveSquawk) May 24, 2023

Consumer spending intention is fading. pic.twitter.com/eg96pqjt1E

— Daniel Lacalle (@dlacalle_IA) May 23, 2023

US business activity rises to 13-month high in May, S&P Global survey shows https://t.co/CFoQG2nXk5 pic.twitter.com/QPkBjxaJnG

— Reuters (@Reuters) May 23, 2023

https://twitter.com/C_Barraud/status/1661251745857818624

New Home Sales at 683,000 Annual Rate in April
Median New Home Price is Down 15.3% from the Peak https://t.co/gqfZ2rdPBg pic.twitter.com/eQb37Jrzct

— Bill McBride (@calculatedrisk) May 23, 2023

The median price of a new home sold in the US is down 15% from its peak last October. After the last housing bubble peak the median new home price fell 22% nationally. pic.twitter.com/8iT7cpRD7X

— Charlie Bilello (@charliebilello) May 23, 2023

Sharp declines in housing units authorized have systematically preceded recessions since 1960 pic.twitter.com/k2Cy5PL33f

— Game of Trades (@GameofTrades_) May 23, 2023

pic.twitter.com/lqnkx0SPfo

— Bill McBride (@calculatedrisk) May 23, 2023

Investors Bet Fed Will Keep Interest Rates Higher For Longer – FThttps://t.co/ebUP821eGq

— LiveSquawk (@LiveSquawk) May 24, 2023

🇺🇸 #Fed Tracks Market Sentiment With New Index Built from 4.4 Million #Tweets – Bloomberghttps://t.co/ru0acM6NmT
*Direct link: https://t.co/w6lRa4RNgh pic.twitter.com/tgAuvPkCif

— Christophe Barraud🛢🐳 (@C_Barraud) May 24, 2023

🇺🇸 McCarthy, Graves Signal Impasse in White House Debt Talks – Bloomberghttps://t.co/srSGrfWfyo

— Christophe Barraud🛢🐳 (@C_Barraud) May 24, 2023

Republicans question June 1 debt ceiling deadline as talks zero in on potential trade-offs https://t.co/h79qnPzmrc

— CNBC (@CNBC) May 23, 2023

Fed Chair Jerome Powell avoided discussing debt-limit negotiations Tuesday during a closed-door meeting with a group of House Democrats as a standoff over raising the federal borrowing limit continued in Washington https://t.co/SuucWvRraA

— Bloomberg Economics (@economics) May 23, 2023

US Reluctance On Trade Deals Sends Latin America Towards China – FThttps://t.co/6s9KhyLCpo

— LiveSquawk (@LiveSquawk) May 24, 2023

US Lawmaker Demands Action Against Chinese Chip Firm CXMT After Micron – RTRShttps://t.co/GDQkmy8ZNJ

— LiveSquawk (@LiveSquawk) May 24, 2023

U.S. House votes to overturn heavy duty truck emissions rules https://t.co/Om8pwYt4XC pic.twitter.com/0LtozMSJ7a

— Reuters (@Reuters) May 24, 2023

Australia Recession Risk Rises As Rates Seen Higher For Longer – BBG https://t.co/8dfxgCotWn

— LiveSquawk (@LiveSquawk) May 24, 2023

Japan Manufacturers' Mood Turns Positive As Economy Recovers – RTRShttps://t.co/NoOVEdAdkI

— LiveSquawk (@LiveSquawk) May 23, 2023

The Monetary Policy Committee today voted to raise the Official Cash Rate (OCR) from 5.25% to 5.50% to ensure that consumer price inflation returns to the 1-3% annual target range, while supporting maximum sustainable employment. https://t.co/7Vfnv4xXiB pic.twitter.com/kxnnuJcA8d

— Reserve Bank of NZ (@ReserveBankofNZ) May 24, 2023

New Zealand Signals Tightening Cycle Done After Raising Rate.

Kiwi dollar falling through the floor Wednesday.https://t.co/4YUAHAaFLi

— David Ingles (@DavidInglesTV) May 24, 2023

The Bank of Korea is set to hold its policy rate for a third straight meeting, as officials cautiously navigate persistent inflation and a slowing economic growth picture https://t.co/b3GB3RsVL5

— Bloomberg (@business) May 23, 2023

China’s New Ambassador To US Says Relations Face ‘Serious’ Challenges – BBGhttps://t.co/jjvZqTPgVl

— LiveSquawk (@LiveSquawk) May 23, 2023

🇬🇧 *TRADERS RAISE #BOE RATE HIKE BETS BY 30BPS, SEE PEAK AT 5.4% – BBG

— Christophe Barraud🛢🐳 (@C_Barraud) May 24, 2023

Annual inflation has continued to ease in April 2023

▪️ Consumer Prices Index, including owner occupiers’ housing costs (CPIH) rose by 7.8% in the 12 months to Apr 2023, down from 8.9% in Mar 2023

▪️ CPI rose by 8.7%, down from 10.1%

➡️ https://t.co/0TK0uIn6Vo pic.twitter.com/RkBH7FY6QX

— Office for National Statistics (ONS) (@ONS) May 24, 2023

UK PPI Output NSA (M/M) Apr: 0.0% (est 0.2%; prevR 0.0%)
– UK PPI Output NSA (Y/Y) Apr: 5.4% (est 5.8%; prevR 8.5%)
– UK PPI Input NSA (M/M) Apr: -0.3% (est 0.2%; prev 0.2%)
– UK PPI Input NSA (Y/Y) Apr: 3.9% (est 4.8%; prevR 7.3%)

— LiveSquawk (@LiveSquawk) May 24, 2023

🇩🇪 #GERMANY MAY IFO BUSINESS CONFIDENCE INDEX 91.7; EST. 93.0 – BBG
*GERMANY MAY IFO CURRENT ASSESSMENT INDEX 94.8; EST. 94.7
*GERMANY MAY IFO EXPECTATIONS INDEX 88.6; EST. 91.6

— Christophe Barraud🛢🐳 (@C_Barraud) May 24, 2023

ECB’s Nagel says ‘several’ interest-rate hikes still needed https://t.co/ASUisZENfa via @KowalczeKamil pic.twitter.com/Ww3YNjt7M7

— Zoe Schneeweiss (@ZSchneeweiss) May 24, 2023

ECB rate-hike delay didn’t make a massive difference, Lane says https://t.co/lndqryoQgn via @CraigStirling pic.twitter.com/ypE6okCjso

— Zoe Schneeweiss (@ZSchneeweiss) May 24, 2023

ECB’s Lagarde: ECB Rates To Reach `Sufficiently Restrictive Levels' – Frankfurter Rundschauhttps://t.co/08LXVVG3Kr

— LiveSquawk (@LiveSquawk) May 23, 2023

ECB's Panetta: To Decide In October On Preparation Phase For Digital Euro https://t.co/s0p6JdFrbs

— LiveSquawk (@LiveSquawk) May 24, 2023

Big Drop In German Exports To China Raises Fears Over EU’s Economic Powerhouse – FT https://t.co/Re6ic2VTpp

— LiveSquawk (@LiveSquawk) May 24, 2023

EU and US discuss aligning investment controls with an eye on China https://t.co/emE2TN3X1X via @europressos @AlbertoNardelli @DeutschJill pic.twitter.com/szYUluziBe

— Zoe Schneeweiss (@ZSchneeweiss) May 23, 2023

France Seeks EU Deal to Avoid Repaying Rail Freight Aid
Repayment would lead to closure of the public freight operator and maybe the end of freight operation by rail in France.
(New private operators could however appear to replace SNCF fret)https://t.co/X1qlCTbXdB

— Pascal Jacquemain 🇫🇷in🇬🇧 #BloodyMigrant (@jacquep) May 23, 2023

Germany’s ruling coalition clashes over delay to heating law https://t.co/84XEmpdJf7 via @petrasorge pic.twitter.com/xo9QeK9NkS

— Zoe Schneeweiss (@ZSchneeweiss) May 24, 2023

⚠ #WeekAhead: Week 21 (2023) ⚠

🇺🇸 Debt-Ceiling Angst
🇺🇸 #FOMC Minutes
🇬🇧 🇪🇺 🇺🇸 #BOE, #ECB and #FED Speakers
🌎 Preliminary PMIs
🇺🇸 U.S. Data
🇹🇷 #Turkey Returns To The Polls
…https://t.co/wBC9Fb3G2O

— Christophe Barraud🛢🐳 (@C_Barraud) May 22, 2023

🌎 🇨🇳 #Copper Gripped by #China Fears as Prices Plunge Below $8,000 – Bloomberghttps://t.co/jO9PdEV9ie

— Christophe Barraud🛢🐳 (@C_Barraud) May 24, 2023

The Darkside of #AIhttps://t.co/nc0DSpvwhb

— fastreveal (@fastrevealnews) May 24, 2023