The US Treasury has significantly raised its Q2 net borrowing estimate to $189 billion, up $80 billion from February, highlighting increasing fiscal challenges. Concurrently, the Eurozone has seen a surprising rise in its May Sentix investor confidence index by 2.8 points, although it remains negative at -16.4, which reflects ongoing economic uncertainty. As tensions rise, European Central Bank official Peter Kazimir indicated that a rate hike in June is nearly inevitable, with swaps markets assigning a 99% probability to a +25 basis point increase.
“US Treasury · estimates · $189 billion in net borrowing for Q2 · up $80 billion from the $109 billion projected in February”
“Eurozone May Sentix investor confidence index · unexpectedly rose · +2.8 · to -16.4”
“Peter Kazimir · said an ECB rate hike in June is · all but inevitable · amid a prolonged period of broad-based price increases”
“Swaps · are discounting a · 99% chance of a +25 bp ECB rate hike · at its next policy meeting”
“Fubon Securities · upgraded Amazon.com · to buy from neutral · with a price target of $320”
“Celcuity · closed up · more than +15% · after its Phase 3 trial met its primary endpoint”
“Tyson Foods · closed up · more than +7% · after reporting Q2 sales of $13.65 billion”
“GXO Logistics · shed · percentage · 11%”
“UPS · fell · percentage · about 10%”
“FedEx · sunk · percentage · 9%”
“C.H. Robinson · sunk · percentage · 9%”
“Amazon · shares · increased · 1%”
