Greetings,
The United States: Below are some updates on the housing market.
• Mortgage applications increased last week.
Here is the rate lock count.
The United Kingdom: Cooling inflation, especially from a stronger pound, could encourage the BoE to cut rates.
China: FX reserves have been climbing this year.
Energy: US crude oil inventories fell last week, while refined products posted mixed results.
Equities: Retail purchases of stocks and ETFs declined from their April peak, when buy-the-dip enthusiasm had fueled a surge in retail buying amid the tariffs-driven selloff.
Rates: The 10-year Treasury note is entering a seasonally strong period.
Food for Thought: US pharmaceutical imports by country:
Edited by Abraham Lent
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