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02.06.26 - 19:39
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Euro Area Inflation Tops 3.0% For First Time Since 2023, Cementing ECB Rate Hike (ZeroHedge)
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Euro Area Inflation Tops 3.0% For First Time Since 2023, Cementing ECB Rate Hike
Euro Area inflation topped 3% for the first time since September 2023, further cementing expectations for a rate hike when the ECB meets next week.
Consumer prices rose 3.2% from a year ago in May, and up from 3% the previous month, in line expectations. But core inflation, which excludes volatile items like food and energy, jumped more than anticipated to 2.5% (technically 2.55%), while the closely watched services gauge jumped to 3.5%, the highest since last November, and non-energy industrial goods inflation printing at 0.87%YoY.
Energy inflation increased to 10.9%YoY, while food, alcohol and tobacco inflation fell to 1.97%YoY, notably below the weak 2.2%YoY Goldman was expecting.
“The acceleration of headline and core inflation in May cements the case for a 25 basis-point rate increase from the ECB next week. Those moves have been driven by services prices, which have probably been pushed up by pass-thr...
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02.06.26 - 19:06
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SpaceX Wants Fee Cut From Bankers Chasing $500 Million Windfall (Bloomberg)
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Elon Musk's SpaceX is negotiating to pay razor-thin fees to Wall Street firms handling its IPO — but banks are still likely to rake in about $500 million from the record-setting market debut.
Musk's space and artificial-intelligence conglomerate is negotiating to pay less than 0.75% for the $75 billion it aims to drum up in an initial public offering this month, according to people with knowledge of the matter. Even at that low spread, it will likely amount to one of the biggest fee events ever for Wall Street firms that arrange public listings.
The lead banks — Goldman Sachs Group Inc. and Morgan Stanley — are positioned to take in a bigger share of the fee pool than the other 21 brokers involved. For more, we speak with Sri Natarajan, Chief Wall Street Correspondent for Bloomberg News. (Source: Bloomberg)...
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02.06.26 - 15:54
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Goldman Sees August US Diesel Crunch as Stocks Lowest Since 2003 (Bloomberg)
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Diesel stocks in the US risk reaching a critical threshold of 20 days of supply by August if commercial inventories keep declining at the recent pace amid the near-complete closure of the Strait of Hormuz, according to Goldman Sachs Group Inc.'s co-head of global commodities research....
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