- U.S. Threatens Mexico with New Tariffs. The U.S. threatened to implement escalating tariffs starting at 5% on all Mexican exports unless Mexico reached a solution to reduce migration flows towards U.S. borders
- U.S. Inflation Falls Short of Consensus. Core personal consumption expenditures (PCE) was just short of consensus expectations at 1.6% year-over-year
- Establishment Parties Lose Ground in European Elections. Mainstream centrist parties lost ground in the European Parliament elections. Nationalist-oriented parties gained seats but not quite as many as anticipated, while left-leaning, pro-Europe parties made gains as well.
- European Central Bank Meets This Week, Fed Leaders Set to Discuss Inflation. The European Central Bank will this Thursday, though no change in interest rate policy is expected
- U.S. Labor Market Expected to Show Continued Strength. This Friday will feature the May U.S. jobs report, where economist surveys are expecting 185,000 jobs added. Both the unemployment rate and wage growth are expected to remain even with their respective prior levels of 3.6% and 3.2% year-over-year.
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