Rio Times Global Economy Briefing
The Big Three
A sharp relief rally. The Dow rose about 930 points and the Nasdaq gained 2.5% after President Trump cancelled threatened strikes on Iran and pointed to a deal agreed in principle.
Europe raised rates. The European Central Bank lifted its key rate to 2.40%, its first increase since 2023, as energy-driven inflation spread across the continent.
Wholesale prices ran hot. US producer prices rose 6.5% over the year, the fastest in nearly four years — a warning the relief rally chose to look past.
