This week’s highlights include the Census Bureau’s report on April building permits and new home construction on May 19–the consensus is for an actual increase (March starts were down 10.8%). The Fed releases minutes of the April FOMC meeting on May 20.

In the Congress, on May 20 Senator Chris Dodd’s Banking committee holds a TARP oversight hearing, welcoming Treasury Secretary Geithner; on the same day, Senator Herb Kohl’s Committee on Aging meets on the health of the PBGC .

The bond markets close at 2:00 P.M. Eastern on May 22 ahead of the long Memorial Day weekend.