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Stocks rallied to record highs last week and are on pace for the best June in 80 years ahead of the Group of 20 Summit in Osaka, Japan, on June 28 and 29. A high-stakes meeting between Presidents Donald Trump and China’s Xi Jinping will likely determine whether the stock market rally is sustained into the early days of July.
Topics: China
Treasury bonds surged during the month of May while the 10-year rallied to its best levels since September 2017. Concerns about the global economic outlook are driving the gains, and those worries are also fueling some speculation that the Federal Reserve will cut rates later in the year. That theory will likely be tested when key jobs numbers and inflation data are released in early June.
Topics: U.S. Treasuries, economic data reports, China
Crude Oil failed to rebound following inventory data this week and has dropped nearly 10%, or $6 per barrel, during the month of May. It’s trying to hold a key technical support, but ongoing trade war concerns and a looming OPEC meeting might keep a lid on short-term rally attempts.
US Hog Futures prices are surging. While a swine flu outbreak tightens supplies, rising Chinese purchases of US stock are driving up demand. The trend is worth watching because, even if you’re not hogwild about trading meat futures, prices might be driven even higher by the latest developments on the US-China trade front.
Topics: Market Updates, Futures, China
