SPX : Deleveraging done ? / UKR-RU ceasefire / U.S inflation stalling / U.S deficit YTD 1.15trn!

Markets : Senate Dems to back government funding bill (no choice really), in Germany, they all want to/have to make a point, none of the party will want to go down in history as the one that stopped 'the deal' (get real folks!), then it'll be about what they do with Russia/UKR, while Putin will try to lengthen the ceasefire talks, not clear what trump will do if he doesn't get a deal like yesterday, Trump has no patience, Putin can have all the patience in the world..Musk's empire (and leverage) clearly under pressure too. U.S inflation tame but progress stalling, sticky! seems Canada had a good meeting with Lutnick on trade
The first five months of FY 2025 produced a deficit of $1.15 TRILLION. That’s $319 Billion more than the deficit recorded in the same period last fiscal year >>> out of control !, hence Trump's urgency !!
Equity markets : the BIG deleveraging from large macro HF looks done, (WHEN THE NEWS COME OUT on CNBC..its usually done...)..continue to play against those supports #SPY 5550 area for longs (Citadel, Brevan, they were all it..)
China : #HSI etc all strongly higher again, further expectations of economic support and all these AI tools! #repricing continues
Risk ahead : Elon is panicking—because his empire is built on overleveraged hype. Trump is panicking—because Musk propping up his political machine is at risk. Their billionaire backers are panicking—because their entire ecosystem is on the verge of imploding
Treasury Secretary Bessent said the White House is focused on the ‘real economy’ and not concerned about ‘a little’ market volatility (ie Wall Street)
China unveils Zuchongzhi-3 quantum supercomputer claimed to be one quadrillion times faster than the world's most powerful supercomputer
EU aims for tech sovereignty with ambitious €5 trillion investment plan
Rheinmetall is preparing to purchase Volkswagen's automotive factory in Osnabrueck and turn it into an armored vehicle manufacturing plant
PBOC easing liquidity | There is speculation that the People’s Bank of China could move to ease liquidity in the Chinese banking system before the week-end
The US has been tightening sanctions on Russia by restricting payment’s for energy (BBG)