· Sunday
Daily briefs generated by sembr, the open-source semantic intelligence engine · every item links to its sources
Core CPI Miss Tempers Hawkish Repricing; FOMC Week Dominates Focus
May core CPI came in below expectations, pushing the first fully priced rate hike to March 2027 and allowing yields to fall for the week, but PPI headline surged and two FOMC officials signaled hawkish leanings — the narrative is a modest easing of hawkish extremes rather than a dovish pivot, keeping stock-bond correlation positive and long-duration risk elevated heading into Warsh's first meeting.
Strait of Hormuz Disruption Nears Deal as US-Iran Talks Advance
The Strait of Hormuz remains effectively shut for over 100 days, but US-Iran negotiations appear close to a deal to reopen the waterway, despite recent military exchanges and Iranian demands for tolls. Brent crude sits at $87.55, the lowest since before the conflict, as the market prices in a potential reopening.