- Reuters/Mark Blinch
Here is what you need to know.
The World Bank says the global economy is improving, but risks remain. The World Bank held its 2017 global growth forecast at 2.7%, saying, “A recovery in industrial activity has coincided with a pick-up in global trade, after two years of marked weakness.”
UK polls keep tightening. A poll released by Survation late Monday showed Theresa May’s Conservative Party held a one point lead over Jeremy Corbyn’s Labour Party. However, betting odds still reflect a 92% chance the Conservatives maintain their majority.
Australia keeps policy on hold. Australia’s central bank held its key interest rate at 1.50% while maintaining a neutral bias for its interest rate outlook.
The 10-year is at its lowest level since the days following Trump’s election win. The US 10-year yield is down 3 basis points at 2.15%, a level last seen since November 10.
Bitcoin and ethereum hit record highs. Bitcoin trades up 7.4% at $2,863 a coin while rival ethereum is higher by 5.4% at $257 a coin, both all-time highs.
Goldman Sachs turned down a request from Venezuela. “In early May, Goldman Sachs turned down a request from Caracas to convert $5 billion in sovereign bonds into marketable securities partly because it would mean dealing directly with a Venezuelan state bank,” Reuters says, citing people familiar with the talks.
Apple’s Worldwide Developer Conference is in the books. At the conference, the tech giant unveiled a Siri-enabled speaker called HomePod, and updates to a bunch of its products.
Some Tesla owners could see their insurance spike 30%. US insurance providers have seen a high number of claim frequencies from Model S and Model X owners, and that could lead to them raising premiums by up to 30%, Automotive News says, citing AAA.
Stock markets around the world trade mixed. Hong Kong’s Hang Seng (+0.5%) led the gains in Asia and Germany’s DAX (-0.5%) trails in Europe. The S&P 500 is set to open down 0.2% near 2,430.
US economic data is light. JOLTS Job Openings will be released at 10 a.m. ET.