Greetings,

The United States: The drop in longer-dated inflation expectations got the markets’ attention. The concerns about inflation expectations becoming unanchored have eased.

The combination of the above result and some comments from Federal Reserve officials reset the expectations for the July rate hike back near 75 bps. Stocks jumped.

The Eurozone: The gap between business and consumer confidence remains wide.

China: Home prices are declining broadly.

Beijing is trying to help.

Cryptocurrency: The adoption of cryptocurrency closely tracks the price of bitcoin, driven by users’ willingness to take on significant risk.

Commodities: Below is a comparison of today’s commodity trends to those of the 1970s oil crises.

Food for Thought: US car loan payments of $1,000 or more have been on the rise.

Edited by Alexander Bowers

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