Rio Times Global Economy Briefing
The Big Three
Chips drove records. Micron jumped about 19% and topped a $1 trillion valuation on a UBS upgrade, lifting the S&P 500 to 7,519.12 and the Nasdaq to 26,656.18 — both fresh closing highs.
The bond market flinched. The 2-year note auction tailed to 4.071% from 3.812% prior, a sharp jump confirming traders no longer expect Fed cuts this year.
Japan inflation ran hot. BoJ Core CPI hit 2.8% against a 1.7% consensus, hardening the case for further normalisation as Governor Ueda prepared to speak.
