According to the Wall Street Journal: Credit Suisse economist Zoltan Pozsar resigns.

The German DAX30 index closed down 6.57 points, or 0.04%, to 15934.45 points on May 8 (Monday); the French CAC40 index closed up 7.98 points, or 0.11%, to 7440.91 points on May 8 (Monday); The 50 index closed up 6.60 points, or 0.15%, at 4347.65 points on May 8 (Monday); Spain’s IBEX35 index closed at 9209.57 points, or 0.68%, at 9209.57 points; Italy’s FTSE MIB index On May 8 (Monday), it closed up 83.43 points, or 0.31%, to 27432.00 points.

In Brazilian spot market trading, the Brazilian real fell 1% on the day against the dollar.

Sources: U.S. President Joe Biden will meet with congressional leaders on the debt ceiling at 4 p.m. ET on Tuesday.

Bank of Canada: Will launch public consultation on digital Canadian dollar.

[Institution: The European Central Bank is approaching the end of its interest rate hike cycle, and higher borrowing costs will test economic and fiscal flexibility] The European Central Bank is approaching the end of its interest rate hike cycle. Underlying inflation is stabilizing and monetary tightening is having a major impact on credit conditions. If financial stability is maintained, a rate hike of 25 basis points is expected in June and another 25 basis points in July. After that, there may be a long pause in the restrictive area (estimated neutral range is 1.50%-1.75%). Higher borrowing costs will test economic and fiscal resilience, especially in southern Europe. The ability of the European Central Bank to deal with the debt crisis is still insufficient. Its transmission protection instrument (TPI) may be difficult to deploy and will not address the significant risk to stability posed by Italian debt.

Brazilian Finance Minister Haddad: announced the nomination of Dario Durigan (Director of Public Policy, Brazil Office) as the next Deputy Finance Minister.

Mexican President López: We will continue to regard the dollar as the most important currency in the world.

Chicago Fed President Goolsbee: If the market has doubts about U.S. Treasury bonds, the pressure on the banking industry may be reignited.

Chicago Fed President Goolsbee: Failing to raise the debt ceiling would be a serious injury.

Chicago Fed President Goolsbee: We should pay special attention to bond market issues related to the debt ceiling.

Chicago Fed President Goolsbee: "Key" data on credit conditions will be available today.

Chicago Fed President Goolsbee: Producer prices have entered a deflationary phase.

Brazilian Finance Minister Haddad: Brazilian President Lula nominated Gallipolo, a senior researcher at the Center for International Relations of Brazil (CEBRI), as the head of the central bank.

Chicago Fed President Goolsbee: Trying to stabilize prices without a hard landing.

Chicago Fed President Goolsbee: The Fed must rely on data and focus on credit conditions.

Fitch: India has sufficient foreign exchange reserves to deal with external financial fluctuations.

USGS: A 5.1-magnitude earthquake struck 63 kilometers north of Coronga, Tonga.