Bonds & Stocks
Treasury yields fell amid market expectations that the Federal Reserve will keep its interest rates steady for the first time in 15 months to evaluate whether or not further tightening is needed. Bonds reversed course on Wednesday, with yields dropping across the curve, after another inflation reading showed signs of cooling.
Economy
US producer prices declined in May, restrained by a drop in the cost of gasoline and underscoring a continued easing in supply-side inflation. The producer price index for final demand decreased 0.3% from a month earlier, according to data out Wednesday from the Bureau of Labor Statistics. From a year ago, the PPI rose 1.1%, the smallest advance since the end of 2020.
World
Senior Chinese officials are soliciting advice from business leaders and economists on how to revitalize the economy in a flurry of meetings attendees have characterized as unusually urgent in their tone. Top officials have held at least six consultations in recent weeks with the executives, according to people present who requested anonymity when discussing sensitive issues.