Yields Ticking Lower This Morning as Markets Look Ahead to Session Tomorrow That Will See Release of May CPI & Fed Policy Decision

U.S. stock futures are lower. Futures are moving lower after yesterday’s session concluded with a slightly higher close, which saw the S&P 500 notch a new high and a yield backup up in the bond market. This morning, yields are ticking lower as markets look ahead to a consequential session tomorrow that will see both the release of May CPI and the Fed policy decision. The Fed meeting comes as markets have been digesting mixed macro data, and rate cut expectations have been further deferred. In international markets, Asian stock indices closed mostly lower, and European indices are also lower in afternoon trading after a strong reading for UK wage growth. Gold and crude prices are ticking higher, while the U.S. Dollar Index is showing signs of strength.

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