- Stocks and US futures rose after China relaxed some virus restrictions, and Wall Street enjoyed its best week since November 2020. Eurozone bonds fell after inflation data surprised to the upside.
- The fourth day of gains for European equities extended their longest winning streak since late March, propelling the Stoxx 600 index to its highest level in over three weeks. China's reopening plans boosted Monday's performance of luxury stocks.
- Both the Nasdaq 100 and the S&P 500 futures rose, indicating that the rally in US stocks may have legs. As institutional investors rebalanced portfolios into the end of the month, the S&P 500 erased its May losses and snapped a string of seven weekly declines.
- The dollar fell for the third day in a row against major peers as safe havens lost their allure amid the improved mood. Because of the US Memorial Day holiday, cash treasuries are not trading.
- The sixth EU package of sanctions against Russia will cover crude oil & petroleum products with a temporary exemption for oil delivered by pipelines - The latest EU summit draft conclusions
- ECB’s Lane: 25 BPS hikes in July & September is the benchmark pace.
- EU's Foreign Min. Borrell: We will have a deal on the next sanctions package by Monday afternoon.
