Oz inflation higher / FED's Bowman / End of June flows ongoing / Biden vs Trump debate tomorrow evening

FT-France could trigger the next euro crisis. Runaway budget deficits and confrontation with Brussels and Berlin is a formula for trouble -- France : "If a country can just ignore the rules and be helped by the central bank, you'll get a lot of doubts about the future value of the euro and the future cohesion of the euro," said Holger Schmieding, an economist at Berenberg to Reuters
Fed’s Bowman says rate cut is not appropriate yet given inflation risks, willing to raise rates if progress on inflation stalls >>> For the first time, the average economist’s forecast (compiled by Bloomberg) shows less than two full Fed rate cuts by the end of the year (close call, basically 2cuts the name of the game for now)
FED paper : Higher inflation can lead to greater efficiency >> Will J Powell make this case on CNBC? unlikely
FedEx shares jump after hours as massive cost-cutting measures kick in
Australia inflation jumps to 6-mth high in May, ramps up rate hike risks, AUD up
Chinese Yuan falls to lowest level against the U.S. Dollar in more than 7 months >>> @crawlingpeg - the higher #USDJPY goes the higher #USDCNH will go/follow
Denmark to charge farmers €100 a cow in first carbon tax on agriculture

The Fed - Inflation, Price Dispersion, and Welfare: The Role of Consumer Search (federalreserve.gov ) >>>> Higher inflation can lead to greater efficiency. It all has to do with the price dispersion that inflation generates, which might motivate some consumers to search for the lowest prices, increasing competition among sellers >>> will Powell endorse this moment ion the TeeVee ? unlikely..

The duopoly not doing great!

Madness