Markets were volatile this week, with important developments and data from major economies continuing to affect global financial markets. Here are the key highlights of the week:
**United States:**
- **Federal Reserve Policy:** The Fed kept interest rates unchanged but adjusted its expectations for future interest rate trends, predicting only one rate cut by 2024. The move reflects growing confidence in slowing inflation.
- **Economic Data:** The year-on-year increase in the Consumer Price Index (CPI) fell slightly in May, with the core CPI slowing to its lowest growth rate in more than three years, but still above market expectations. The Producer Price Index (PPI) fell month-on-month, indicating reduced pressure.
**Japan:**
- **Bank of Japan:** The Bank of Japan kept its policy rate unchanged and postponed plans to reduce its bond purchases, a decision that affected the yen exchange rate and caused volatility in the market.
**Europe:**
- **Bond Market Double Kill:** European markets suffered a "Black Friday", with both stocks and bonds suffering heavy losses, and political turmoil in France exacerbated market uncertainty.
**Global:**
- **Gold and Bitcoin:** Escalating geopolitical tensions in the Middle East pushed gold prices up by more than $30. Bitcoin suffered a heavy blow due to the deterioration of market sentiment.
These events reflect the complex challenges and risks facing the global economy. Investors need to pay close attention to the policy adjustments of central banks and changes in economic data, as well as the impact of geopolitical events on the market.
