Macro Briefing: 15 May 2023

* Biden and GOP House leaders to meet on Tuesday for debt-ceiling talks
* Plunging tax revenue brings debt-ceiling crisis closer
* Turkey’s presidential election in Turkey heads to runoff vote
* Ukraine’s Zelensky in UK for surprise meeting with prime minister
* Germany pledges ‘unwavering’ support for Ukraine as Zelensky visits
* Automakers rush to get into mining as electric-vehicle market grows
* Vice Media files for bankruptcy after years of financial troubles
* US consumer sentiment in May falls to lowest level since November:

US recession risk still looks low, based on early numbers for the second quarter via the New York Fed’s Weekly Economic Index (WEI) through May 6. This multi-factor measure of real-time economic activity suggests that growth is stabilizing at a modest/weak pace after an extended slowdown for the US economy in 2022 through this year’s Q1: