Breakfast Bites - Markets maintain momentum
Asian markets also higher; Tariff deadline approaching
Rise and shine everyone
US equity markets remained close to their February highs, holding steady despite mixed economic and geopolitical signals. President Trump, speaking at the NATO summit, expressed confidence that Iran’s nuclear ambitions had been neutralized and suggested that the conflict between Israel and Iran was effectively over.
On the economic front, May new home sales in the US came in well below expectations. However, the number of homes available for sale surged, pushing the month’s supply to its highest level in two and a half years, signaling potential softening in the housing market.
Treasury yields edged higher during the morning session as Fed Chair Jerome Powell delivered his second day of testimony on Capitol Hill. Later in the day, yields reversed course and moved lower after Trump said he had narrowed the list of candidates to replace Powell as Fed Chair.