💡 This week is a critical week for macroeconomics, with key schedules—

May 13 (Tuesday): Release of the April CPI data; previous value 3.3%, expected value 3.7%.
May 14 (Wednesday): Release of the April PPI data.
May 14 (Thursday): The Senate Banking Committee holds a closed-door review of the CLARITY Act; the biggest obstacle, the “stablecoin yield clause,” has reached an agreement. If passed and sent to the full Senate, there is a 90% chance the legislation will be completed within 2026.
May 15 (Friday): The Federal Reserve changes leadership. Powell’s term officially ends, and Kevin Warsh takes over. The first FOMC meeting after his appointment is on June 18, and the dot plot shows there is only one rate-cut opportunity left for the remainder of 2026.
Be careful when opening positions, friends! Four high-level events are compressed into a 72-hour window, and the market is likely to see a concentrated wave of volatility.
It’s recommended that you reduce leverage these days—I’ve saved some firepower, waiting for Warsh’s first policy speech after taking office!