European Mediterranean Seismological Center: A 5.8-magnitude earthquake hit the Bareny Islands area.
The financial website Forexlive commented on the Swiss CPI data in May: The good news is that both headline and core annual inflation rates fell last month, which is in line with the trend we have seen in the euro area. However, consumer price inflation rose 0.3% month-on-month. Considering the overall situation, the SNB will still tighten monetary policy further later this month.
IATA: More than doubles 2023 airline industry profit forecast to $9.8 billion. (Previously estimated at $4.7 billion)
At one point, the gap between Italian and German 10-year bond yields narrowed to 160 basis points, the smallest since April 2022.
The Swiss monthly CPI rate for May will be released in ten minutes.
European gas futures rose 7.3% to 25.42 euros/MWh.
Morgan Stanley expects the ECB to cut rates for the first time in the second quarter of 2024 and reach a neutral rate of 2% in the first quarter of 2025.
In premarket trading on the Swiss stock exchange, Credit Suisse rose more than 1 percent after UBS announced the completion date of the acquisition.
Morgan Stanley: We expect the ECB to end its rate hike cycle in July, with interest rates reaching 3.75%.
The Ukrainian ground forces commander said Ukrainian troops continued to &quot;advance&quot; near Bakhmut, without mentioning the Ukrainian counteroffensive.
Indonesian Finance Minister: Indonesian government keeps 2024 GDP target unchanged, despite risks.
Credit Suisse expects that UBS will complete the acquisition of the bank as early as June 12, 2023, and the shares of Credit Suisse Group will be delisted accordingly.
UBS: UBS Group will assume all the assets and liabilities of Credit Suisse Group.
UBS: Credit Suisse shareholders will exchange 22.48 Credit Suisse shares for 1 UBS share.
UBS: It is expected to complete the acquisition of Credit Suisse Bank as early as June 12, 2023.
Foreign tourist arrivals in Indonesia rose 276.31 percent year-on-year to 865,810 in April.
Morgan Stanley strategists downgraded European financials to a neutral rating.
OPEC+ announced that the voluntary production reduction agreement will be extended from the end of 2023 to the end of next year; Biden signed the debt ceiling bill to temporarily avoid the US government from falling into debt default. At present, the proportion of short positions in US oil has increased, and the buying signal of US stocks is strong. What is the market outlook? Lock in GAIN Capital Daily Market Barometer Updates
According to the Wall Street Journal: Large U.S. banks may face a 20% capital increase.
Bank Indonesia expects the headline consumer price index to fall to 3.3% by the end of the year.