Category: Headlines
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In the wake of the strong ADP and Challenger job layoffs, bonds have slumped to even deeper lows, short term rates spike higher and S&P futures are indicating a weak open (-0.90%)
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Fed’s Logan (voter, hawk) says would have been okay with a June hike, more hikes will likely be necessary
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US Challenger Layoffs (Jun) 40.709k (Prev. 80.089k) – seven month low
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US ADP National Employment* (Jun) 497.0k vs. Exp. 228.0k (Prev. 278.0k, Rev. 267.0k)
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US Durables Ex-Def, R MM * (May) 3.0% (Prev. 3.0%)
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US Factory Orders MM * (May) 0.3% vs. Exp. 0.8% (Prev. 0.4%)
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Fed-preferred PCE gauge shows lowest U.S. inflation rate since April 2021, as core rate remains elevated
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US PERSONAL SPENDING, Adjusted MM* (May) 0.1% vs. Exp. 0.2% (Prev. 0.8%)
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US Core PCE Price Index MM * (May) 0.3% vs. Exp. 0.3% (Prev. 0.4%)
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US Core PCE Price Index YY* (May) 4.6% vs. Exp. 4.7% (Prev. 4.7%)