Ah, darlings! Last week’s rather dismal PMI reports revealed that our beloved manufacturing sector is contracting for the third consecutive month, while services have decided to take a little holiday, shrinking for the first time in 11 months. How positively thrilling! 🎉
Meanwhile, the crypto markets have settled down a smidgen after the delightful drama between our dear President Trump and the ever-controversial Elon Musk. One can only imagine the tea that was spilled! ☕️
But fear not, for this week promises to be a veritable rollercoaster of economic excitement with key inflation and consumer sentiment reports set to make their grand entrance. Hold onto your hats, darlings! 🎢
And as if that weren’t enough, the next round of US-China trade talks is kicking off on Monday, as noted by the ever-astute Kobeissi Letter. One can hardly wait! 🥳
Economic Events June 9 to 13
Now, the pièce de résistance of the week is undoubtedly May’s Consumer Price Index (CPI) report, which is one of the two key measures of inflation. Central bank policymakers and investors will be watching this like hawks, as it reflects price trends across the economy and shapes sentiment. How riveting! 📈
Analysts are positively buzzing that the May CPI report will confirm that price pressures are still elevated. Shocking, I know! 😱
Following this, we’ll have the May Producer Price Index (PPI) report on Thursday, which will reflect the costs of producing consumer goods. It’s like a backstage pass to the inflationary pressures that await us! 🎭
And let’s not forget June’s Michigan Consumer Sentiment Index and Consumer Inflation Expectations preliminary readings due on Friday. These reports will summarize consumer confidence and long-term inflation expectations, which can impact spending and overall economic growth. How delightful! 💸
Key Events This Week:
1. Atlanta Fed GDPNow data – Monday
2. May CPI Inflation data – Wednesday
3. 10-Year Note Auction – Wednesday
4. May PPI Inflation data – Thursday
5. Michigan Inflation Expectations data – Friday
6. Michigan Consumer Sentiment data – Friday
This marks…
— The Kobeissi Letter (@KobeissiLetter) June 8, 2025
And here we are, my dears, at the last week of inflation data before the June Fed meeting. According to the CME Fed Watch tool, there’s a staggering 99.9% probability that interest rates will remain unchanged at the June 18 central bank meeting. How utterly predictable! 😏
Crypto Market Outlook
In the world of crypto, we’ve seen a slight dip over the past 24 hours, with a 2% decline in total capitalization, now resting at a modest $3.41 trillion during Monday morning trading in Asia. How quaint! 💰
Overall, the markets are playing it safe, having recovered from their Friday fall and holding steady over the weekend. A round of applause, please! 👏
Bitcoin flirted with the $106,000 mark during late trading on Sunday but has since decided to settle down at $105,600 on Monday, June 9. Aside from Friday’s little hiccup, it has been rather well-behaved within this tight trading channel since the end of May. How charming! 💖
Ethereum is holding its ground around the $2,500 price zone, failing to break resistance above $2,700 but also not slumping back towards $2,000. A true testament to resilience! 💪
As for the altcoins, they’re generally flat, with minor gains for XRP and ICP, while the memecoins seem to be having a bit of a rough time. Poor dears! 😢
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2025-06-09 08:38