Wednesday will be a big day for economic data and Fed speakers

Wednesday is a big one on the US economic calendar with (all times ET):

  • 8:15 ADP Employment Change exp 148k
  • 9:45 S&P Global US Services PMI exp 51.7 prelim
  • 10:00 ISM services 52.7 exp

We will hear from more Fed speakers on Wednesday:

  • 8:30 – Bostic on CNBC
  • Noon – Goolsbee
  • 12:10 pm – Powell (text release)
  • 1:10 pm – Barr
  • 4:30 pm – Kugler (text release)

The market is currently pricing in 69 bps in cuts this year with June at 65% (ticking higher on today’s FOMC comments).

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