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 $US2,863 a coin while rival ethereum is higher by 5.4% at $US257 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 $US5 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.
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