Headlines discussed at LNWM’s Monday morning briefing:
— US stock and bond markets rallied on possibility of interest rate cuts, to boost slowing economic growth amid low inflation.
— A key US manufacturing index fell to its lowest level since 2009 (50.1) and hit 50.6 for US services; under 50 indicates contraction.
— US existing-home sales rebounded 2.5% in May vs. April but down 1.1% from a year ago, with inventory up in some major cities.
— New claims for US unemployment benefits dropped last week (to 216,000); average claims remain low, despite slight rise for the month.
— China said President Xi will attend the G-20 summit in Japan this week, increasing optimism about US-China trade deal.
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