Macro Briefing: 1 June 2021

* Will this week’s jobs report for May change the Fed’s stance on monetary policy?
* The perfect storm for a shortage in everything around the world
* China’s manufacturing sector grew at slightly slower pace in May
* Eurozone manufacturing activity reached new highs in May
* US crude futures rise to 2-1/2 year high
* Key measure of US inflation increased faster than expected in April
* US consumer spending rose 0.5% in April, extending March’s surge
* Probability of expected US PCE inflation above 2.5% rose to 84% in May: