◆ Daily Global-Macro Brief LIVE
TODAY IN 30 SECONDS
  1. Federal Reserve proposes new payment accounts for clearing and settlement by eligible institutions
  2. Fed Releases April FOMC Minutes
  3. Russia, China Revive Stalled Gas Pipeline Amid Energy Market Volatility
  4. May 2026 Bond Market Survey Published
  5. U.S. Household Financial Health Gaps Highlighted as Access Reaches 96%

Markets 1

  • Survey released covering investor outlook for the bond market in May 2026
  • Includes expectations on yields, inflation and monetary policy stance
  • No significant shift in risk appetite reported compared with previous month

Macro/Economy 2

  • Bank account ownership among U.S. adults rose to 96% from 92% fifteen years ago.
  • Only about 31% of Americans report feeling financially healthy, revealing a large gap.
  • The "$400 test" shows 37% of households lack cash to cover an unexpected $400 expense.
  • Federal Reserve surveys (SCF and SHED) continue to track financial wellbeing and inform policy.
  • AI-driven data analysis is expanding how financial institutions measure and improve outcomes.
  • Revised compilation method for Real exports and Real imports to improve accuracy
  • Changes to publication format and schedule, with Real export and import series now released one business day after 'Trade Statistics (Provisional)'
  • Figures for April 2026 to be released on May 22, 2026

Central Banks 2

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  • Proposal seeks public comment on a new 'payment account' for legally eligible financial institutions to clear and settle payments via Fed services
  • Accounts exclude intraday credit, discount window access, and interest; overdrafts prevented via automated controls
  • Temporary pause on Tier 3 institution access requests until policy finalization; comment period open for 60 days
  • Fed officials discussed inflation and labor market conditions in April
  • Committee members debated the pace of interest rate hikes
  • No major policy changes announced

Energy/Oil 2

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  • Russia and China agree to revive Power of Siberia 2 pipeline project
  • Pipeline would carry 50 billion cubic meters of gas annually from Russia to China
  • Iran war disrupts energy supplies, creating fresh incentives for Beijing to consider overland pipeline
  • In Jan‑Apr 2026, MISO coal dark spread outpaced natural‑gas spark spread
  • Electricity, natural‑gas and coal price trends support coal's economic edge
  • Higher dark spread suggests continued coal dispatch in the Midcontinent grid