Thursday's News Links

[Yahoo/Bloomberg] Stocks Hold Firm as Traders Weigh Fed Path: Markets Wrap

[CNBC] Treasury yields continue to tumble after PPI fell in May

[Reuters] Oil softens on Fed rate decision, ample supply outlook

[Yahoo/Bloomberg] Surge in French Bond Positions Shows Mounting Angst About Le Pen

[Reuters] US producer prices unexpectedly fall in May

[AP] The number of Americans filing for jobless benefits jumps to the highest level in 10 months

[Yahoo/Bloomberg] Bond Market Splits From Fed Again by Betting on 2024 Rate Cuts

[Reuters] Morning Bid: The day after the Fed

[Yahoo/Bloomberg] South Florida Is Pummeled by Record Rainfall With More Downpours to Come

[Yahoo/Bloomberg] Private Lenders Storm Public Bond Markets at Record-Setting Pace

[Yahoo/Bloomberg] US Corporate Stockpiles Grow, Soaring to Record $4.11 Trillion

[Reuters] Heavy rocket fire from Lebanon at northern Israel

[Reuters] Israeli forces thrust deeper into Rafah as diplomacy falters

[Yahoo/Bloomberg] Macron’s Dire Warnings About Le Pen May Not Work This Time

[Yahoo/Bloomberg] Australia’s Unemployment Rate Drops to 4% as Hiring Persists

[Yahoo/Bloomberg] Japanese Funds Sell Largest Amount of Foreign Debt in Nine Years

[Yahoo/Bloomberg] Chinese Trader’s $20 Million Pile of Russian Copper Goes Missing

[Bloomberg] How G-7 Nations Hope to Counter Russia and China’s Axis of Resistance

[Bloomberg] Singapore Port Container Logjam Worsens as Ships Avoid Red Sea

[NYT] The Fed Holds Rates Steady and Predicts Just One Reduction This Year

[WSJ] Stung by Past Mistakes, a Wary Fed Takes Its Time

[WSJ] A New Chinese Megaport in South America Is Rattling the U.S.

[NYT] Why Investors Don’t Believe the Fed

[FT] Why France’s far right is spooking markets

[FT] Jay Powell sends mixed interest rate signal to borrowers — and Joe Biden

[FT] European CLO issuance hits record rate as investors chase yields

[FT] Russia halts foreign exchange trading as US sanctions sow confusion

[FT] Germany to launch limited military service in push to be ‘war ready’

Wednesday Evening Links

[Reuters] S&P 500, Nasdaq post closing record highs after CPI, Fed

[Yahoo/Bloomberg] Oil Gains as Risk-On Mood Outweighs Rising US Crude Inventories

[Yahoo/Bloomberg] Fed Officials Dial Back Rate Forecasts, Signal Just One ‘24 Cut

[Reuters] Fed keeps rates steady, sees just one 2024 cut despite inflation progress

[Yahoo/WSJ] Fed Projects Just One Cut This Year Despite Mild Inflation Report

[Yahoo/Bloomberg] Wall Street’s Rate-Cut Dreams Have to Wait as Fed Stays on Hold

[Reuters] US Treasury posts $347 bln deficit for May

[Reuters] Gaza ceasefire plan hangs in balance as US says Hamas seeking changes

[Reuters] US expands Russia sanctions, targets chips sent via China

[Yahoo/Bloomberg] BOJ to Weigh Bond Buying as Investors Seek Hints for July Hike

[Yahoo/Bloomberg] ECB’s Nagel Says Euro-Zone Core Inflation Is ‘Still Very Sticky’

[Bloomberg] China’s Once-Mighty Credit Cycle Is a Fading Force on World Markets

[WSJ] Jerome Powell Is a Happy Federal Reserve Chief

[FT] Iran-backed Houthis hit ship with sea drone

[FT] Victory for French far right could trigger Liz Truss-style debt crisis, warns finance minister

Wednesday Afternoon Links

[CNBC] Fed holds rates steady, indicates only one cut coming this year

[Yahoo/Bloomberg] Dollar Drops, Euro Surges as Focus Turns to Fed’s Rate Path

[Reuters] Wall St up on inflation cheer; Apple reclaims title of world's most valuable company

[CNBC] 10-year Treasury yield tumbles ahead of Fed decision after CPI is unchanged in May

[Yahoo/Bloomberg] Traders See September Rate Cut in Play With Fed Decision Next

[CNBC] Here’s the inflation breakdown for May 2024 — in one chart

[Reuters] EU hits Chinese EVs with tariffs, drawing stern words from Beijing

[Reuters] Gold rush to endure through 2024 though $3,000 mark may prove elusive

[Reuters] Hezbollah vows to escalate attacks after Israel kills a top commander

[WSJ] French Government Bonds Face Trouble as Elections Loom

[WSJ] Hezbollah Fires Rocket Barrage Into Israel After Death of Commander