- US May advance retail sales +0.1% vs +0.3% expected
- Fed's Musalem: Confidence to cut rates could take months and likely quarters to play out
- Fed's Goolsbee: Latest inflation number was 'excellent' hopefully more to come
- Fed's Kugler: Policy has more work to do, judgement will be guided by data
- Fed's Kugler: We have two-sided risks, we continue to pay attention to data
- NY Fed Pres. Williams: Rate cut path depends on data
- Fed's Logan: Will need to see 'several more months' of better CPI numbers
- Fed's Barkin: We are clearly on the back side of inflation
- Nvidia is now the world's most-valuable company
- US treasury auctions off 20 year bonds at a high-yield of 4.452%
- ECBs Villeroy: We owe our citizens respect. That means not running big deficit
- Atlanta Fed GDPNow for 2Q growth 3.1% unchanged from the last estimate.
- US CBO boosts fiscal 2024 deficit forecast by $408 billion
- New Zealand GDT price index -0.5%
- US April business inventories +0.3% vs +0.3% expected
- US May industrial production +0.9% vs +0.3% expected
Markets:
- Gold up $10 to $2329
- WTI crude oil up $1.21 to $81.54
- US 10-year yields down 6.2 bps to 4.22%
- AUD and CHF lead, JPY lags
- S&P 500 up 0.25%
