
US CPI released, stocks slump; regulators crack down on cutthroat low-price wars at the top five e-commerce platforms | Daily News Recap
0611 | Dolphin Research Focus: 🐬 Macro/Industry 1) US May CPI +4.2% YoY, up from Apr's 3.8%; core CPI edged up to 2.9% YoY, with energy the main driver. The print was in line with expectations, prompting markets to push back the first cut and trim the number of cuts priced for this year; UST yields moved higher and the USD strengthened.
Near term, this pressures growth stocks in HK/US and may intensify foreign selling of HK equities; the Jun FOMC meeting is set to keep rates high. The inflation rebound confirms the overseas easing window is delayed, and flows should continue to favor high-dividend defensives...





