- Newly appointed Federal Reserve Chairman Kevin Warsh signaled that the central bank will not tolerate high inflation, leading to a sell-off in short-term Treasuries.
- Traders have accelerated bets on interest rate hikes, with markets now pricing in a potential increase as soon as July 2026.
- President Donald Trump signed a Memorandum of Understanding with Iran, appearing to step back from previous 'red lines' used to justify military conflict.
Quotes
“the central bank won’t tolerate high inflation.”