END OF DAY REPORT MAY 30th EQUITIES, FUTURES & OPTIONS

HIGHLIGHTS

Fed's Barkin (non-voter) says policy is in restrictive territory but there is uncertainty around where rates need to go Looking for signs that demand is falling (said on May 25th that demand is definitely cooling). 
Hard to count on rate hikes to do all the work on inflation. Some parts of the economy appear to be cooling, while others remain vibrant. There is more willingness among businesses to try to raise price and that will continue until demand falls. Inflation is going to be more stubborn "than many people would hope". Hearing less about the risk from wage increases. Bank loan volumes have held up "pretty nicely", even as banks get more selective. Hopes rates can stay a "neutral, normal" level for some time, which would be healthy for the economy. It would be shocking if, in a future recession, rates did fall again to zero.

US Senate Majority Leader Schumer says he supports the debt limit deal and will vote on it as soon as possible

Debt limit vote timing in the US House for May 31st, via Punchbowl 
 Wednesday, May 31st 14:00ET (19:00BST)
 House to meet for legislative 15:30ET (20:30BST)  
 First votes expected 20:30ET (01:30BST) - Last votes expected