PRIMER - Today’s Fedspeak: Barr, Hammack, Bowman, Beige Book
Today's comments from various Fed officials will likely underscore a cautious approach to monetary policy amid ongoing inflation concerns.
Bank of America (BAC) CFO says have not experienced any material losses on private credit, via conference call
UBS (UBSG SW) expects to achieve underlying return on CET1 capital of 15% and cost/income ratio of less than 70% by end of 2026; raised total cost savings target by USD 500mln to USD 13.5bln by end '26
PRIMER - Today’s Fedspeak: Barr, Hammack, Bowman, Beige Book
Kazakhstan is considering the possibility of exporting oil to South Korea in 2026, Interfax reports
Morgan Stanley (MS) Q1 2026 (USD): EPS 3.43 (exp. 3.02), Revenue 20.6bln (exp. 19.70bln)
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- 13:30BST/08:30EDT: Fed’s Barr (voter; no text expected) is due to speak on consumer compliance supervision and regulation. Barr in late March warned that a prolonged Iran conflict could push longer-term inflation expectations higher, making overall inflation harder to control, and said the Fed should take time to assess conditions before cutting rates further. With inflation around one ppt above target, Barr said the Fed needs to be “especially vigilant.” He also warned that recent regulatory changes had weakened banking system resilience. Speaking to rural communities on Tuesday, Barr said tariffs and the Iran war are raising costs for rural businesses, adding that it is too early to determine the path for prices as Middle East events unfold.
- 13:30BST/08:30EDT: Fed’s Hammack (2026 voter; no text expected) will give an interview to CNBC. Speaking last week, Hammack said inflation, which has been running above target for five years and moving sideways for two, which is her most pressing concern. On employment, she views the unemployment rate as the key indicator and sees the labour market at roughly full employment. She described the financial system as in a good place from a stability standpoint.
- 18:45BST/13:45EDT: Fed’s Bowman (voter, dove; no text expected) will speak at the IIF. Speaking in late March, Bowman said she had pencilled in three rate cuts before end-2026 to support the labour market, adding that it was too early to judge the war’s longer-term economic impact.
- 19:00BST/14:00EDT: Fed will release its Beige book. Traders will particularly focus on any remarks relating to the conflict to in the Gulf. ING bank expects it to point to greater corporate caution, subdued hiring and ongoing inflation pressures, but nothing that would materially shift pricing.
With some officials warning about the impact of geopolitical events, particularly in the Middle East, and emphasizing the importance of assessing economic conditions, traders should remain vigilant for any hints that may influence the rate path or market sentiment toward risk assets.
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