Fed/US Rates: Kevin Warsh’s first FOMC as chair kept the policy rate at 3.5%–3.75% but signaled higher-for-longer risk, with a shorter statement and task forces to overhaul Fed communications—pushing bond yields and the dollar higher. US Labor: Washington’s unemployment held at 5.2% in May while job growth rebounded; nationwide, jobless claims stayed elevated but eased, pointing to a cooling hiring pace rather than a collapse. Middle East/Oil: The US lifted its Hormuz naval blockade as the US-Iran deal reopened tanker traffic; oil slid further, though OPEC pushed back on IEA oversupply warnings and said demand growth remains robust. UK Rates/Labour: The Bank of England held at 3.75% with a hawkish tilt, while UK vacancies fell to a five-year low. Corporate/Autos: BMW cut its 2026 car profit outlook, blaming China EV competition and Middle East fallout. Tech/AI & Markets: Accenture shares plunged on guidance and AI-driven consulting fears; Amazon leaned into AI chip demand with Trainium sales largely sold out. Housing/Credit: Mortgage rates dipped to 6.47% (30-year) but are expected to stay volatile as Fed expectations for hikes linger. Energy/Utilities: Entergy sought to pass through costs of a gas plant tied to data-center demand, drawing PSC skepticism. Food/Dairy: USDA raised milk production forecasts for 2026–27 while lowering some price outlooks. Markets/Fintech: Wealthsimple and Kalshi launched a Canada-focused prediction app limited to economics, markets and climate contracts.