END OF DAY REPORT JUNE 2nd

HIGHLIGHTS

Saudi Energy Minister Abdulaziz decision to ban various news sources from OPEC meeting stemmed from his perception that his market view was not being given a fair airing, he believed that was contributing to falling oil prices, according to FT sources

White House says debt ceiling bill may be signed as soon as Saturday

Goldman Sachs continue to expect a pause at the June FOMC meeting, reflecting the mixed household survey, the softness in hours worked, and the decline in average hourly earnings growth

Iraq minister says OPEC+ wants to maintain stability in the oil market; OPEC+ has proven it reads the market in the right way

Fitch says despite debt limit agreement US 'AAA' rating remains on negative watch Although the resolution of the US debt limit impasse allows the government to meet its obligations, 
Fitch Ratings maintains the Rating Watch Negative. Consider the full implications of the most recent brinkmanship episode and the outlook for medium-term fiscal and debt trajectories.

WSJ Timiraos, "Friday’s jobs report does little to clarify the Federal Reserve’s debate over whether to hold rates steady this month. But it underscores the prospect that, if officials do so, they could favor raising rates later this summer." A continuing strong labour market could lead officials to hike rates higher than anticipated. Officials who already favoured a rate hike in June are likely to be more convinced of the need. But some who have argued that the Fed should slow down hikes to study the effects of past moves, could still lean toward skipping a June hike and moving rates up in July if economic activity remains solid.