Investors ended the week by trading cautiously amid ongoing trade uncertainty, after Trump accused China of breaching a
trade deal and said he expected to speak to Xi. US Treasury yields fell slightly, with some Fed officials maintaining their w ait
and see approach despite data released on Friday showed US consumer spending and PCE inflation slowed down in April.
In the eurozone, both Italian and German inflation slowed slightly in May. ECB's Panetta said that inflation is almost fully
under control, and acknowledged that the ECB has less room for further cuts, but should maintain a flexible approach.
Sovereign bond yields fell slightly, with peripheral risk premia narrowing.
Equity indices were mixed, with most European ones rising, the S&P 500 closing flat and aggregate emerging market indices
falling. In the FX market, the dollar appreciated slightly against the euro, but was mixed overall. In commodities, oil price s f ell
slightly as traders awaited OPEC+'s decision to increase output by 411,000 barrels per day in July, which it finally did.