The Bank of Japan didn’t deliver any fireworks ahead of the weekend but the yen weakness today shows there were some major worries they would shift gears. It’s been a volatile week of unpredictable and hard-to-explain moves. It’s slowed down today ahead of a US long weekend but it’s not over yet.
The main highlight is the preliminary UMich consumer sentiment report for June. This data point has been a terrible measure of future consumer spending this cycle and I hope that puts a dagger into it as an economic indicator but the inflation expectations component still has weight and is the spot to watch in the 10 am release.
The Fed is also out of the blackout with Waller speaking now and Barkin at 9 am ET.