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Self-Regulatory Organization Alert! Nasdaq ISE, LLC Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Delay the Implementation of Certain Trading Functionality impacting:

Routing, ATR and Repricing Rules, Complex Order Rules, and multiple functionalities. OPEN for comment! https://public-inspection.federalregister.gov/2023-11715.pdf https://listingcenter.nasdaq.com/assets/rulebook/ISE/filings/SR-ISE-2023-10.pdf Purpose: * In connection with a technology migration to an enhanced Nasdaq, Inc. (“Nasdaq”) functionality, the Exchange filed various rule changes
dismal-jellyfish 🧱 Market Reform

Schrödinger's labor market: ADP wallops expectations, adds 278,000 job in May (180,000 expected). Yet, initial jobless claims (232,000) are highest level since April. Nonetheless, wages are rising--adding more data for the justification for continued hike

https://fred.stlouisfed.org/series/ICSA https://adpemploymentreport.com/ REMEMBER Fed Governors have had this to say about Employment/Labor/Wages:5/8/23: Chicago Fed President Austan Goolsbee: 6:10 The job market and the credit conditions those are the two main things we want to be looking at
dismal-jellyfish 📈 Macroeconomics

FTD Alert! Daily Total US Treasury Fails creep up during the month of May (averaging $35.77 billion per day), while Agency fails hit a 52 week High at $4.05 billion.

Source: https://www.dtcc.com/charts/daily-total-us-treasury-trade-fails What do these charts show? They show the value of U.S. Treasury securities that were not delivered to fulfill a trade contract. “Failures-to-deliver” occur when either sellers fail to deliver or buyers fail to receive securities in time to settle a trade.
dismal-jellyfish 📊 Data

Commodity Futures Trading Commission (CFTC) Alert! CFTC to hold an OPEN meeting Wednesday, June 7 from 9:30 a.m. – 4:00 p.m. (EDT to consider: Final Rule: Governance Requirements for Derivatives Clearing Organizations, 3 proposed rules, and one amendment.

https://www.cftc.gov/media/8631/Federal%20Register:%20Sunshine%20Act%20Meetings/download The Commission will consider the following: * Final Rule: Governance Requirements for Derivatives Clearing Organizations * Proposed Rule: Derivatives Clearing Organizations Recovery and Orderly Wind-down Plans (The SEC has a similar rule up: https://www.federalregister.gov/documents/2023/05/
dismal-jellyfish 🧱 Market Reform

A big short in Treasury's? Traders are building up bets around a debt ceiling resolution

Source: https://www.marketwatch.com/story/a-big-short-in-treasurys-traders-are-building-up-bets-around-a-debt-ceiling-resolution-5aedee28 Speculators have been building up a “historically massive” short position in U.S. Treasury futures ahead of what could be $1 trillion of new debt issuance on the heels of a debt-ceiling resolution, according to Macquarie’s sales and trading global macro strategy
dismal-jellyfish 📈 Macroeconomics

Federal Reserve Alert! Get ready for a new 'recession' definition! From today's Fed beige book - May 31, 2023: "Demand for transportation services was down, especially in trucking, where contacts reported there was a "freight recession.""

https://www.federalreserve.gov/monetarypolicy/beigebook20230531.htm Overall Economic Activity * Economic activity was little changed overall in April and early May. * Four Districts reported small increases in activity, six no change, and two slight to moderate declines. * Expectations for future growth deteriorated a little, though contacts still largely expected a
dismal-jellyfish 📈 Macroeconomics