Week inAdvance
Monday | May 30, 2022
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Mon May 30 Mon | EU summit. U.S. markets closed for Memorial Day holiday. | Tue May 31 Green Swan 2022 livestream. | Wed Jun 1 Fed's Beige Book. | Thu Jun 2 Queen’s Platinium Jubilee weekend. | Fri Jun 3 CFTC announces voluntary carbon markets convening.
The Federal Reserve is set to start shrinking its $8.9 trillion balance sheet starting June 1. The key monthly U.S. payrolls report is Friday, and after a solid result in April another hot reading could turn up the pressure on the Fed and its rate tightening path.
In China, the main economic data are the PMIs due on Tuesday. The numbers will provide new indications of whether or not growth is bottoming out - even as restrictions in major cities continue.
The U.K. is gearing up up for a huge celebration to mark Queen Elizabeth II’s Platinum Jubilee, or 70 years on the throne for the 96-year-old monarch.
All times are Eastern and subject to change.
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Thursday, Jun 9
INVESTORS market practices industry update
10:30 - 11 am
Come when you can. Leave when you have to. Take your calls.
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Wednesday, Jun 1
FEDERAL RESERVE
Fed balance sheet roll off begins. The Fed also releases its Beige Book report on regional economic conditions.
Thursday, Jun 2
COMMODITY FUTURES TRADING COMMISSION
The first-ever Voluntary Carbon Markets Convening to discuss issues related to the supply and demand for high quality carbon offsets, including product standardization and the data necessary to support the integrity of carbon offsets’ greenhouse gas emissions avoidance and reduction claims. Panelists will also discuss issues related to the market structure for trading carbon offsets and carbon derivatives as well as perspectives on the challenges and opportunities in these markets.
Friday, Jun 3
BUREAU OF LABOR STATISTICS
U.S. employers likely added jobs at a healthy clip in May, though economists estimate the pace of hiring slowed as companies confronted a tight labor market and rising economic uncertainty. One key metric to watch: the unemployment rate. Some forecasters predict that unemployment ticked down to 3.5% in May from 3.6% in April, matching a half-century low last reached in February 2020 — just before the Covid-19 pandemic landed with full force on the economy.
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House & Senate out of session.
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Monday, May 30
GENEVA, Switzerland
The executive board of the World Health Organization holds its 151st session.
Monday, May 30 -
Tuesday, May 31
BRUSSELS, Belgium
The EU needs to find an agreement on a proposed ban on Russian oil imports by the time leaders gather for a two-day summit or they may have to consider “other instruments,” according to German Economy Minister Robert Habeck. Defense, inflation, energy and food security will also take the spotlight.
Tuesday, May 31 -
Wednesday, Jun 1
BASEL, Switzerland (virtual)
Green Swan 2022 livestreamed conference, co-organized by the Bank for International Settlements, the European Central Bank, the Network for Greening the Financial System, and the People’s Bank of China. Participants include People’s Bank of China Governor Yi Gang, ECB President Christine Lagarde, and ECB Governing Council member Klaas Knot.
Thursday, Jun 2 -
Friday, Jun 3
VIENNA, Austria (virtual)
A virtual OPEC+ meeting is unlikely to bring relief to a strained energy complex, with the group set to continue on its path of modest increases to oil supply.
Thursday, Jun 2 -
Sunday, Jun 5
Queen Elizabeth II in February became the first British monarch to celebrate a Platinum Jubilee — 70 years on the throne. The official celebration has arrived, with a four-day bank holiday weekend.
Friday, Jun 3
VILNIUS, Lithuania
Baltic Green Finance Conference, Making Green Finance a reality in the Baltics, to discuss implementation of the European Green Deal and to share insights on the challenges of the climate change from a perspective of the financial sector.
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Friday, Jun 3
NEW YORK CITY
The UN’s Food and Agriculture Organization releases its monthly food price index at a time of maximum concern about global supplies.
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