News Highlights: Top Global Markets News of the Day - Wednesday at 5 AM ET

European Stock Markets Slip, Asia Gains Amid Fed Rate-Cut Hopes. Treasury Yields Suffer. 
 

Optimism about interest rates coming down extends beyond the U.S., where markets are closed for the Juneteenth holiday.

 
U.K. Inflation Falls to Bank of England's 2% Target 
 

U.K. inflation declined in May, increasing the likelihood the Bank of England will lower its key interest rate in the coming months, although the core and services prints remained elevated.

 
Bond Trading by China's PBOC Wouldn't Be Quantitative Easing, Gov. Says 
 

Trading in bonds by China's central bank wouldn't be a form of massive monetary easing, according to its governor, as he responded to speculation that Beijing is eyeing the unconventional policy tool to prop up the economy.

 
Bitcoin Price Steadies After Selloff. The Crypto Faces Pressure Amid ETF Outflows. 
 

The change of direction at exchange-traded funds and miners being forced to sell tokens are weighing on the market.

 
Fed's Barkin: More data is needed before any changes are made to interest rates 
 

Richmond Federal Reserve Bank President Tom Barkin on Tuesday described the outlook for the U.S. economy as uncertain and said the Fed should keep its benchmark rate steady until a clearer picture emerges of the path of inflation and the labor market.

 
U.S. industrial production sees largest increase in 10 months in May 
 

U.S. Industrial production rose 0.9% in May, the Federal Reserve reported Tuesday. That is the biggest gain since last July.

 
Retail sales in U.S. shackled by inflation and high interest rates 
 

Sales at U.S. retailers barely rose in May, suggesting Americans are feeling the weight of lingering inflation and high interest rates.

 
China Dismisses Tax Crackdown Speculation 
 

Chinese authorities dismissed speculation they are cracking down on tax evasion in response to market concern that local governments might be looking to punish companies for decades-old tax misconduct amid mounting fiscal stress.

 
Pro Take: Latin America Cools Off on Rate Cuts as the Fed Holds Steady 
 

Higher for longer rates in the U.S. may lead to slower policy easing in countries like Brazil and Mexico, but other forces also are also at play.

 
U.K.'s Curious Dedication To Fiscal Rules Set To Survive Change Of Government 
 

U.K. governments have long imposed limits on their own behavior that are designed to stop a steady rise in their debt. Despite the failure of those fiscal rules to achieve that goal, the U.K.'s next government seems set to do the same.

(END) Dow Jones Newswires

June 19, 2024 05:15 ET (09:15 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.