Last Week

• Manufacturing Data Dips Across all Major Regions – May’s Federal Reserve minutes showed that Chairman Jerome Powell’s colleagues also believe temporary factors are keeping inflation below the Fed’s 2% target.
• Australia and India Elections Boost Respective Markets, U.K.’s May Resigns -Australian equities jumped over 2% in local terms last Monday following the surprise election victory of new Prime Minister Scott Morrison’s Conservative Party.

This Week

• Low Core PCE Could Help Lead to Fed Accommodation – The Fed’s preferred inflation measure, core personal consumption expenditures (PCE), will be released this Friday.