— U.S. inflation in April barely budged, rising just 0.1%; consumers pulled back on spending (+0.2%) and saved more (4.9%) with credit card debt defaults remaining near 12-year highs.
— President Trump announced 50% tariffs on all steel imports (vs. 25% currently) starting June 4; U.S. appeals court allowed existing Trump tariffs to stay in place for the time being.
— U.S. real estate prices are up 3.4% annualized on average through March, per the May 27 release of Case Shiller Index, indicating relatively high mortgage rates and prices are keeping a lid on gains.
— Both U.S. and Chinese manufacturing sectors remained in contraction territory in May (48.5 and 49.5, respectively on key indexes), with above 50 indicating expansion.
— The European Union is nearly on track to achieve its 2030 energy and climate goals, including cutting greenhouse gas emissions by 55% vs. 1990 levels.
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