U.S. economic data was mixed. The manufacturing and services...

U.S. economic data was mixed. The manufacturing and services survey indexes declined but remained in expansionary territory, while the Federal Reserve's core personal consumption expenditure price index, the Fed's preferred inflation indicator, slowed on a year-over-year basis.

The core personal consumption expenditure price index, the Federal Reserve's preferred inflation indicator, slowed on a year-over-year basis. In addition, security activity at U.S. airports was close to pre-epidemic levels, boosting the index.

In addition, security activity at U.S. airports was close to pre-epidemic levels, boosting U.S. tourism. On the other hand, consumer confidence and home sales declined, while weekly jobless claims declined at a rate of 0.5%.

The number of weekly jobless claims rose in May.

The Federal Reserve raised interest rates by 50 pips to between 0.75% and 1.00%. Powell hinted at a 0.75% to 1.00% rate hike at the June and July Federal Open Market Committee meetings.

At the June and July Federal Open Market Committee meetings, Powell hinted that a 0.5% hike was appropriate, ruling out a 75-point increase. At the same time, the yield curve narrowed and steepened.

At the same time, the yield curve narrowed and tended to steepen.