> U.S. CORE INFLATION COOLED TO 0.2% IN MAY, BELOW THE 0.3% FORECAST

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> BREAKING: 🇺🇸 US INFLATION RISES TO 4.2%.

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> U.S. CPI: +4.2% YOY (EST. +4.2%)
U.S. CORE CPI: +2.9% YOY (EST. +2.9%)

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> US MAY CONSUMER PRICES RISE 0.5% M/M; EST. +0.5%
US MAY CONSUMER PRICES RISE 4.2% Y/Y; EST. +4.2%

US MAY CORE CPI RISES 0.2% M/M; EST. +0.3%
US MAY CORE CPI RISES 2.9% Y/Y; EST. +2.9%

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> SPACEX IPO DRAWS BILLIONS IN ORDERS FROM MIDDLE EASTERN FUNDS

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> US SHORT-TERM INTEREST-RATE FUTURES RISE AFTER INFLATION REPORT, AS TRADERS PARE FED RATE HIKE BETS

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> YIELD ON 10-YR U.S. TREASURY NOTES EDGES UP AFTER CPI DATA, LAST UP 0.8 BASIS POINTS AT 4.536%

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> CORE INFLATION SIGNALS PEAK MAY BE PASSING

JOHN BRIGGS, HEAD OF US RATES STRATEGY AT NATIXIS NORTH AMERICA, SAYS THE SOFTER MONTH-ON-MONTH CORE INFLATION READING MAY INDICATE THE PEAK OF WAR-DRIVEN INFLATION HAS PASSED. HE ADDS THIS COULD SUPPORT A MORE FAVORABLE INFLATION OUTLOOK AHEAD, BUT WARNS THE TREND DEPENDS ON OIL PRICES REMAINING STABLE AND NOT REIGNITING INFLATIONARY PRESSURE.

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> THE U.S. UNADJUSTED CPI ROSE 4.2% YEAR-ON-YEAR IN MAY, IN LINE WITH MARKET EXPECTATIONS AND MARKING THE HIGHEST LEVEL SINCE APRIL 2023. THE U.S. UNADJUSTED CORE CPI ROSE 2.9% YEAR-ON-YEAR IN MAY, ALSO IN LINE WITH EXPECTATIONS AND MARKING THE HIGHEST LEVEL SINCE SEPTEMBER 2025. — LINK

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> GULF FUNDS TARGET SPACEX IPO BILLIONS

GULF SOVEREIGN WEALTH FUNDS ARE PLACING MULTIBILLION-DOLLAR ORDERS FOR SPACEX’S IPO, UNDERSCORING THE REGION’S PUSH INTO AI AND ADVANCED TECH. SAUDI ARABIA’S PIF AND KUWAIT INVESTMENT AUTHORITY ARE EACH BIDDING $1–5 BILLION, WHILE QATAR IS EXPECTED TO COMMIT HEAVILY.

THE DEMAND IS PART OF BROADER GLOBAL OVERSUBSCRIPTION FOR THE OFFERING, WITH INVESTORS VIEWING SPACEX AS A KEY ASSET IN THE AI AND SPACE ECONOMY BOOM.

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> ENERGY SHOCK DRIVES U.S. INFLATION

ENERGY COSTS ACCOUNTED FOR OVER 60% OF U.S. INFLATION IN MAY, ACCORDING TO THE LABOR DEPARTMENT. GASOLINE PRICES JUMPED 41% YEAR OVER YEAR, WHILE DIESEL SURGED 59%. ELECTRICITY COSTS ALSO ROSE 5.9%, OUTPACING OVERALL INFLATION. RISING FUEL AND POWER PRICES REMAIN THE DOMINANT DRIVER OF CONSUMER PRICE PRESSURES.

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> NASDAQ-LISTED BITCOIN FINANCIAL SERVICES COMPANY FOLD SAID IT SOLD ABOUT $45 MILLION WORTH OF BITCOIN AT AN AVERAGE PRICE OF $71,000 AND COMPLETED A SERIES OF CAPITAL RESTRUCTURING MEASURES. ABOUT $20 MILLION OF THE PROCEEDS WERE USED TO REPAY BITCOIN-BACKED SECURED DEBT, WHILE THE REMAINING $25 MILLION WILL SUPPORT BUSINESS GROWTH. FOLLOWING THE TRANSACTION, FOLD SAID IT HAS REPAID ALL SECURED DEBT, IMPROVED ITS LIQUIDITY AND CASH FLOW STRUCTURE, AND CONTINUES TO HOLD A “MEANINGFUL” BITCOIN RESERVE WHILE DYNAMICALLY ADJUSTING ASSET ALLOCATION TO SUPPORT FUTURE GROWTH. — LINK

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> U.S. STOCKS EXTEND FALL, NASDAQ DOWN 1.00%

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> ERDOGAN WARNS ISRAEL OVER REGIONAL ESCALATION

TURKISH PRESIDENT RECEP TAYYIP ERDOGAN SAID ISRAEL’S ACTIONS IN SYRIA AND LEBANON HAVE WIDER CONSEQUENCES, INCLUDING FOR TURKEY’S SECURITY. HE WARNED ANKARA WILL NOT ACCEPT TERRITORIAL “FAITS ACCOMPLIS” AND ACCUSED ISRAEL OF PURSUING AGGRESSIVE REGIONAL AIMS, SAYING THE WORLD WILL PAY THE PRICE IF IT IS NOT STOPPED. ISRAELI PM BENJAMIN NETANYAHU REJECTED THE COMMENTS AND VOWED CONTINUED MILITARY ACTION AGAINST IRAN AND ALLIED GROUPS.

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> BANK OF CANADA OVERNIGHT RATE TGT: UNCHANGED AT 2.25%

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> CFTC UNVEILS SWEEPING RULE PROPOSAL FOR FAST-GROWING PREDICTION MARKETS — LINK

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> AMERICAN CONSUMERS ARE NOW FACING 7%+ MORTGAGE RATES, 4.2%+ INFLATION, AND A 30% LOSS IN THE PURCHASING POWER OF THE US DOLLAR SINCE 2020.

MEANWHILE, US CPI INFLATION CONTINUES TO FOLLOW A SIMILAR TRAJECTORY AS THE LATE 1970S.

WILL HISTORY REPEAT ITSELF?

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