-- Federal Reserve officials penciled in just one interest-rate cut this year and forecast more reductions for 2025, reinforcing policymakers’ calls to keep borrowing costs high for longer to suppress inflation.Meantime, the Bank of Japan is making investors wait until its July meeting for details on its paring of bond buying, leaving the yen vulnerable to further declines.
Issuance of catastrophe bonds just hit a record high, as the market braces for a rough hurricane season with the potential to do substantial damage. Sales of so-called cat bonds are 38% higher this year through May than over the same five-month period in 2023, which was already a record, according to Artemis, a compiler of data on insurance-linked securities.
Euro-zone industrial production unexpectedly fell at the start of the second quarter, casting a shadow over the economy’s pickup this year from its poor performance in 2023. The outcome leaves the euro-zone economy leaning more heavily on services to continue its recovery after a growth spurt in the first quarter.Israel’s worst armed conflict in half a century has set off an inflationary chain reaction that’s finally coming into view.
--With assistance from Galit Altstein, Irina Anghel, Arne Delfs, Toru Fujioka, Sumio Ito, Vassilis Karamanis, Sam Kim, Kamil Kowalcze, Jacob Lorinc, Jonnelle Marte, Geoffrey Morgan, Gautam Naik, Tom Rees, Augusta Saraiva, Zoe Schneeweiss, Craig Stirling and Naomi Tajitsu.Trump Couldn’t Stop Gibbering in Front of Nation’s Biggest CEOs
Anthony Fauci has a new book plan and detailed one conversation with trump where the president said he “loved” him, but also expressed anger with the doctor.
Justice Clarence Thomas took several more trips on the private plane of GOP megadonor Harlan Crow than were previously known, a top Senate Democrat revealed. JCN president Carrie Severino, who previously clerked for Justice Thomas, says there’s nothing that’s cause ‘for real ethical concern.’Biden campaign trolls Trump’s 78 ‘accomplishments’ on former president’s birthday
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