• Wall Street equities closed higher on June 15. The DJIA rose by +0.15%, the S&P 500 grew by +0.25%, while the Nasdaq edged up by +0.03%.
• US stocks posted modest gains on Tuesday, with the S&P 500 reaching a new all-time high, securing its 31st record close this year. Strength in chipmakers on Tuesday lifted the overall market, driven by a +3% increase in Nvidia, which pushed the chipmaker's market capitalization just above USD3.34tn.
• US Treasury yields tumbled on Tuesday, with the 10-yr yield decreased by -6.0 bps to 4.22% and the 2-yr yields slipped by -6.0 bps to 4.69%. The weak US May retail sales report triggered a rally in T-notes, further bolstered by the strong demand at the USD13bn 20-year T-bond auction.
• US May retail sales increased by +0.1% MoM, less than the forecasted +0.3% MoM. April retail sales were revised down to -0.2% MoM from unchanged. Meanwhile, US May manufacturing production increased by +0.9% MoM, exceeding expectations of +0.3% MoM rise.
• In Europe, the Euro Stoxx 50 tumbled to a 3.5-month low on Friday due to rising concerns about political turmoil in France after President Macron announced a snap legislative election following his party's defeat in European Parliament elections last Sunday.
• In Asia, the Bank of Japan held its key short-term interest rate steady at 0% to 0.1% in June, following its historic March hike that ended eight years of negative rates.
• Global bond yields moved lower on Tuesday: the German bund yield slipped by -1.7 bps to 2.39%, the 10-yr UK gilt yield fell by -6.7 bps to 4.04%, and the Japanese 10-yr JGB yield decreased by -3.1 bps to 0.94%.
