U.S. Economic Indicators

Consumer prices rose 0.1% in May (up 1.8% from a year ago). The “core” CPI, which excludes food and energy, increased 0.1% in May and is up 2.0% from last year. BLS Report

U.S. News

The Financial Times reports that U.S. homeowners are increasingly choosing to refinance their mortgages to take advantage of low borrowing costs. Demand has also risen among home buyers, though signs of caution remain amid an uncertain economic outlook. FT

According to the Wall Street Journal, acting White House Chief of Staff Mick Mulvaney stated that the USMCA deal has a “better than two-thirds chance” of approval by the end of this year, though its passage is dependent on support from a majority of House Democrats. Democratic lawmakers are demanding key changes to USMCA — including stronger enforcement mechanisms and Mexican labor rights provisions — before the agreement can be brought to a vote. WSJ