Briefings
Archive June 2025
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Week InAdvance: June 30, 2025
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- On: 06/30/2025 16:47:42
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Week InReview: June 27, 2025
- By: admin
- On: 06/27/2025 15:16:45
- In: Week InReview
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Stocks kick off this morning with the S&P 500 on the verge of setting a record high for the first time since February. Equities are getting a boost from the progress on trade deals and growing expectations of Fed interest-rate cuts this year.
European and US index futures rise, with an index of global equities on track for another record high. The US and China finalized a trade understanding reached last month, US Commerce Secretary Howard Lutnick said.
An index of the dollar was little changed after dropping for four straight sessions. The Treasury Department announced a deal with G7 allies to exclude US companies from some taxes imposed by other countries in exchange for removing the Section 899 “revenge tax” proposal from the US tax bill.
Investors will brace Friday for a reading of the Fed’s preferred inflation gauge, which is expected to have edged higher in May. The report comes a day after US data that signaled some cracks in the labor market and frailer consumer demand.
The yen holds gains ahead of economic data expected to show Japan’s jobless rate held steady last month, while retail sales slowed and Tokyo inflation moderated slightly.
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Week InAdvance: June 23, 2025
- By: admin
- On: 06/23/2025 10:49:08
- In: Week InAdvance
Mon Jun 23 Net Zero event in London. EU-Canada summit in Brussels. House lawmakers return. | Tue Jun 24 Powell in the House. “Summer Davos” in China. NATO summit in the Netherlands. | Wed Jun 25 Powell in the Senate. Glastonbury Festival in the Vale of Avalon in Somerset, UK. | Thu Jun 26 EU leaders' summit in Brussels. SEC roundtable on executive compensation disclosure. | Fri Jun 27 Fed stress test results. US PCE. BIS annual meeting in Basel. AI risk conference in Helsinki. | Sun Jun 29 FSI session at the BIS. BIS annual economic report.
Week InReview: June 20, 2025
- By: admin
- On: 06/20/2025 10:36:29
- In: Week InReview
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The euro rose back above $1.15 from the lows of the week. The European Union is continuing intensive trade talks with the US and is “making progress,” according to EU Economy Commissioner Valdis Dombrovskis.
Asian stocks rose, with benchmarks in South Korea, Hong Kong, and China outperforming. The Kospi topped 3,000 points for the first time since January 2022. S&P equity index futures slipped around 0.2%.
Japanese stocks lagged Asian peers. A key consumer inflation measure accelerated to a fresh two-year high. Japan’s top trade negotiator says the country won’t fixate on the July 9 deadline for reciprocal tariffs to return to higher levels.
Japan’s Finance Ministry will seek feedback from market players later Friday over its planned reductions to super-long bond issuance as it takes steps to quell market turbulence.
A number of Australia’s biggest investors say they are cutting their holdings of US Treasuries, citing concern over US tariff and tax plans. State-owned Funds SA, which oversees the equivalent of $30 billion, has switched to an underweight position in US sovereign debt. At the same time, Queensland Investment Corp., with assets of $86b, said some of its clients are reducing their Treasury exposure.
Week InAdvance: June 16, 2025
- By: admin
- On: 06/16/2025 16:59:17
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Week InReview: June 13, 2025
- By: admin
- On: 06/13/2025 14:52:11
- In: Week InReview
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Oil surges after Israel’s strikes against Iran. Brent tops $78 a barrel earlier in the biggest intraday gain since Russia’s March 2022 invasion of Ukraine. Crude’s implied volatility surges.
Risk aversion grips broader markets on fears of a wider war in the Middle East. Stocks in Asia fall along with US and European equity-index futures.
Investors rush to the safety of haven assets. Gold rallies more than 1% while the US dollar strengthens against most of its G10 peers. The yen and Swiss franc are little changed.
Markets in Asia brace for the ripple effect of the dollar’s slide to a three-year low, according to a Bloomberg gauge. That comes as benchmark Treasury yields fell for a fourth day, as the 30-year bond auction capped a week of strong offerings. Automakers’ shares may also be hit by the latest tariff threat.
Oil climbed, reversing earlier losses, after American media reported Israel is stepping up plans to attack Iran’s nuclear facilities. The US has warned Israel against such a move, but has also threatened military action if Iran refuses to abandon uranium enrichment.
Week InAdvance: June 9, 2025
- By: admin
- On: 06/09/2025 11:32:38
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Week InReview: June 6, 2025
- By: admin
- On: 06/06/2025 16:10:48
- In: Week InReview
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Bank of Japan officials are likely to discuss slowing their pullback from buying government bonds at a policy meeting later this month, according to people familiar with the matter.
Asian stocks are mixed and European equity futures slightly lower ahead of US jobs data that may help clarify the path for Fed interest rate cuts. Meanwhile, ECB President Christine Lagarde unveiled an outlook that may be as good as it gets for the euro zone.
BlackRock is planning its second round of job cuts this year after the world’s largest asset manager splurged on $28b of deals to wade deeper into private markets. The firm is set to cut about 300 people months after a similar move at the start of the year, according to people with knowledge of the matter.
Treasury yields climbed Thursday as a selloff in European government bonds overshadowed weakening US labor market data.
In a formal assessment of US trading partners’ foreign exchange practices, the Treasury Department declined to name any country a currency manipulator while singling China out for “its lack of transparency.”
Week InAdvance: June 2, 2025
- By: admin
- On: 06/02/2025 14:47:19
- In: Week InAdvance
Mon Jun 2 US Senate returns from break. Vilnius Summit on defense. | Tue Jun 3 Fed's 'Fed Listens' event. | Wed Jun 4 Canada rate decision. | Thu Jun 5 FSOC executive session. Fed's 'Beige Book.' ECB rate decision. | Fri Jun 6 Italy’s Istat releases economic forecasts. Monthly US employment report. India rate decision. | Sun Jun 8 Eid al-Adha, one of two main Islamic festivals, begins. 78th Tony Awards for the American theatre industry.