US LABOR MARKET: Questioning Of Particularly Low Payrolls Breakeven Pace (3/3)

Jun-03 18:49

* That said, the broad stabilization in the unemployment rate since last summer suggests ex post t...

Historical bullets

US: Fed Releases Senior Loan Officer Opinion Survey on Bank Lending Practices

May-04 18:30
  • The Fed Board of Governors just released the April 2026 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS), Link: https://www.federalreserve.gov/data/sloos/sloos-202604.htm
    • Latest SLOOS addressed "changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the first quarter of 2026."
    • "Regarding loans to businesses over the first quarter, survey respondents reported, on balance, tighter lending standards and basically unchanged demand for commercial and industrial (C&I) loans to firms of all sizes. Furthermore, banks reported basically unchanged lending standards and weaker or basically unchanged demand for commercial real estate (CRE) loans"
    • Note: "A second set of special questions asked banks about changes in lending standards and demand over the past year for NDFI loans.12 These questions are new in the April 2026 SLOOS. Banks reported, on net, tighter standards for all categories of NDFI loans over the past year. Specifically, significant net shares of banks reported tighter standards for NDFI loans to business credit intermediaries, consumer credit intermediaries, and other NDFI loans, and moderate net shares reported tighter standards for mortgage credit intermediaries and private equity funds."

US TSYS: Treasury Borrowing Estimates Released Ahead – 1500ET

May-04 18:30
  • Treasury’s update on financing requirements for the current (Apr-Jun) and next (Jul-Sep) quarters will be released in 30 minutes at 1500ET.
  • It is expected to largely maintain its borrowing projections for the current quarter.
  • More attention will be on the full Refunding announcement on Wednesday (0830ET), in which any adjustments to the policy statement’s guidance on future auction size increases will be closely-watched as usual.
  • MNI Refunding Preview: https://media.marketnews.com/MNI_US_Deep_Dive_Issuance_2026_04_b3024c8748.pdf

SOFR OPTIONS: Mar'27 SOFR Put vs. Jun'27 Calls

May-04 18:12
  • +10,000 SFRH7 95.87 puts 1.0-1.5 over SFRM7 96.50 calls