GFXFTS🧵 Today's market-relevant headlines:
1/ US job losses are accelerating in roles most exposed to AI, according to new reporting. The shift is showing up in the labor data, not just forecasts.
2/ Q2 inflation is projected at 6% by top forecasters.
Following the latest inflation surge, traders are now pricing the next Fed move as a hike rather than a cut.
3/ The Fed named Jerome Powell Chair Pro Tempore until Kevin Warsh is sworn in as Chairman — a leadership transition at the central bank amid the inflation repricing.
4/ Global bond yields have hit multi-decade highs. The G-7 is set to discuss the selloff, which is now spilling into US equities after months of decoupling.
5/ Reports indicate the US and Israel are preparing renewed strikes on Iran as early as next week.
Separately, Trump and Xi signaled alignment on keeping the Strait of Hormuz open, though no progress was reported on Iran itself.
6/ ECB's Vujcic said a June rate increase will depend on incoming data, keeping the door open but not committing.
8/ Europe's structural constraints continue to limit its equity market's ability to compete globally, and UK debt dynamics remain in focus.
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