Inflation in Europe is rising rapidly:
Eurozone Manufacturing PMI Input Prices spiked to 80 points in May, the highest since May 2022.
This also marks the largest monthly increase in costs for firms over the last 4 years.
Furthermore, PMI Output Prices surged to 62 points, the highest in 3.5 years.
The rate companies are increasing the prices they charge for goods they produce has surged +12 points, or +24%, since the start of 2026.
This surge has been primarily driven by rising energy and raw material costs.
Meanwhile, supply chain delays are up to the highest level since the pandemic supply squeeze of 2022, adding further pressure on prices.
As a result, factories are forced to pass higher costs on to customers, which will push inflation even higher over the next few months.
Price pressures across Europe are accelerating.
BREAKING: Assets in US money market funds surged +$66 billion in the week ending May 28th, to a record $8.28 trillion.
+$41 billion of that came in a single day as investors rebalanced their portfolios ahead of month-end.
Year-to-date, money market funds have attracted +$172 billion in total inflows.
Since the 2020 pandemic, total assets have soared +112%, or +$4.4 trillion.
This comes as the market is pricing in a ~60% probability of a Fed rate hike this year, supporting demand for short-term cash-like assets.
Meanwhile, the 7-day average yield for US money market funds stood at 3.34% as of May 28th.
Investors are anticipating the Fed's next move.
BREAKING: The US State Department has just issued a security alert for all Middle East countries warning of "potential for hostilities" and instructing US citizens to locate the nearest shelter immediately, after the US has given Iran a new end-of-week deadline of "a deal or a military strike," per Channel 12.
Multiple US air force assets are currently airborne in the region with six C-17 Globemaster aircraft leaving the Middle East toward Europe.
The IRGC says its forces have been placed on full combat alert with units now instructed to "stand ready for immediate execution of orders."
INTEL: Frozen Iranian funds deal nears final stages as mediators discuss a special fund for part of the assets, with Trump refusing any release before a signed agreement