🇪🇺 France contracted in Q1, German energy import costs jumped 31.0%, and money markets still have the ECB hiking on June 11
🇺🇸 Core PCE missed on the month, rose on the year, and the yield bid has a 60-day sponsor
📈 The Strategy: 2026-05-29
📑 The Watchlist: 2026-05-29
🎓 Personal income and outlays: what the BEA measures and what April 2026 says about the consumer
📰 Daily Macro Roundup: 2026-05-28
🇨🇳 Hong Kong exports up 43%: China is deep in the AI hardware boom and keeping its researchers at home
🌏 SARB holds at 6.75% for a third straight meeting as April CPI spikes 90bps. The Iran war is closing EM central banks' easing room.
🇬🇧 UK CPI at 2.8% is the easy part. The DMO still has £252bn to sell into a 4.85% gilt market.
🇪🇺 The ECB hits neutral just as inflation jumps to 3.0% and Spain's consumers pull back
