Daily Archives: June 5, 2023

Macro Briefing: 5 June 2023

* Biden signs debt ceiling bill into law and averts US default
* Fitch may downgrade US credit rating despite debt-ceiling resolution
* Wave of new US Treasuries sales will be stress test for liquidity
* “We don’t yet see a significant slowdown in lending,” says IMF chief
* Expectations for Fed rate cuts in 2023 fade as economy stays resilient
* OPEC+ will extend oil production cuts to support crude’s price
* US employment surged in May–largest monthly gain since January
* Small-cap stocks may shine if US recession risk fades
* US stock market (S&P 500) rallied to 9-month high on Friday:

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