- Despite accelerated price readings in the US (CPI, PPI, import prices, and University of Michigan survey), US rates are soft.
- The S&P 500 rose 2.7% in the last two sessions, but the futures are trading with a slightly heavier bias now.
- Lower rates and some suggest the sell-off in leading tokens in the crypto space is lifting gold prices above $1850 and the 200-day moving average for the first time since early February.
- A reduction in tariff schedules could theoretically help ease price pressures, but we are suspicious of how much would actually be passed on to the end user.
For further details see:
U.S. And Europe May Announce Tariff Truce