Macro Briefing: 16 May 2024

* US stocks rally to record high after encouraging inflation data
* Americans unexpectedly paused spending in April vs. March
* US homebuilder sentiment in May weakens for first time in six months
* NY Manufacturing Index indicates slightly faster contraction in May
* US Core Consumer Inflation falls to 3-year low in April:

US 10-year Treasury yield fell sharply on Wednesday after upbeat inflation news, settling at six-week low. The inflation data also fueled renewed expectations for rate cuts by the Federal Reserve later this year.

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