1. The age-old question: how do governments pay for wars? – FT
2. US Inflation Slows, Giving Room for Fed to Pause Rate Hikes – Bloomberg
3. The Case for an Inflation Cool-Down – WSJ
4. US consumer prices rose in May at slowest rate since early 2021 – FT
5. What Could Knock Stocks Back Into a Bear Market – Barron’s
6. Treasury yields climb after CPI report shows slowing inflation – CNBC
7. China Cuts Rates to Revive Economy; Could Put a Floor Under Stocks – Barron’s
8. A (very short) history of global reserve currencies – Michael Pettis FT Alphaville *

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1. S&P 500 exits longest bear market since 1948; what next? – MarketWatch
2. Traders raise bets on higher US interest rates – FT
3. Stress at the edges (plus more on liquidity & hedging) – FT Unhedged
4. Traders who missed rally put aside their qualms & dive in – Bloomberg
5. JPM bond chief sees worrying echoes of 2008 in market calm – CNBC
6. Democrats Push for Debt-Ceiling Overhaul Bill – WSJ
7. Bonds Are Entering a New Era. How to Play It – Barron’s

1. Will markets have a liquidity crunch? – FT Unhedged
2. Don’t Fear the Bull Market. Why Stocks Are Headed Higher – Barron’s
3. A $1 Trillion Borrowing Binge Looms After Debt Limit Standoff – NYT
4. Eurozone Succumbs to Mildest of Recessions on Energy Shock – Bloomberg
5. Eurozone economy shrinks for two consecutive quarters – FT
6. Bonds Everywhere Suffer as Rate-Hike Fears Swamp Traders – Bloomberg
7. Jobless claims increase more than expected to highest since Oct 2021 – CNBC
8. Dalio Says US at Beginning of ‘Late, Big-Cycle Debt Crisis’ – Bloomberg
9. Why U.S. stock-market was rattled by Bank of Canada’s rate hike – MarketWatch
10. U.S. Has Every Reason It Needs to Drop Debt Ceiling – Brad Setser at CFR *

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1. US Treasury’s $1tn borrowing drive set to put banks under strain – FT
2. Traders Leaning Toward Fed Hike by July as Bond Yields Climb – Bloomberg
3. OECD chief economist calls for governments to cut fiscal support – FT
4. What the debt ceiling debate missed – FT Opinion
5. Deluge of Treasury bill issuance is coming – MarketWatch
6. The myth of the ‘Asian century’ – FT Opinion

1. Don’t blame the west if the global south goes its own way – FT Opinion
2. Bank Regulations Are Getting Tougher; Wall Street Not Surprised – Barron’s
3. USD: will Fed follow suit after Australia’s surprise rate hike? – MarketWatch
4. BRICS Raging Against US Dollar Is an Exercise in Futility – Bloomberg Opinion
5. World Bank sees major economies growing at much slower pace – CNBC
6. How America is reshaping the global economy – FT Opinion
7. A $1.5 Trillion Backstop for Homebuyers Props Up Banks Instead – Bloomberg
8. Shadow Banks Account for Half of the World’s Assets – Barron’s
9. Back to 2019 – Fed Guy *

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1. Why America’s economic policy muddle matters – Adam Tooze in FT
2. US Labor Market Sends Mixed Signals, Giving Fed Reason to Pause – Bloomberg
3. UAE’s Record Gold Purchase from Russia could mean de-dollarization – TFI Global
4. In desperate bid for cash, the Treasury is auctioning one-day bills – CNN
5. Chinese Yuan could finally become a fierce competitor for the US dollar – Fortune
6. BRICS ministers call for rebalancing of global order away from West – BBC
7. Why private capital flows in the EU remain sluggish – FT Opinion
8. US Labor Market Shows Resilience With Strong May Hiring – WSJ

1. How the US is deepening military alliances in China’s backyard – FT
2. Wall Street Banks Are Using AI to Rewire Finance – Bloomberg
3. ADP: U.S. private sector has strong job growth in May – MarketWatch
4. Eurozone inflation falls to lowest level since Russia invaded Ukraine – FT
5. The Fed Needs to Push Interest Rates Higher – Bloomberg Opinion
6. Measuring inflation can be tricky and quirky – CNBC