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Argentina superstar Lionel Messi's wife, Antonela, is showing support with their entire family at the 2026 World Cup.

The BetMGM bonus code NYPNEWSGET retrieves a welcome offer for the World Cup.

A federal judge ruled Monday that Acting Attorney General Todd Blanche and DC US Attorney Jeanine Pirro would not be removed from the case against White House Correspondents' Dinner shooting suspect Cole Allen.

Dillon Mitchell arrived at St. John’s with the reputation as a high-flying athlete and terrific defender. Nobody knew at the time he could also play point forward.

Tameka Hall, 40, was hit with a felony grand-theft charge after being caught on surveillance folding up the customer's winning lottery receipt and stuffing it into her uniform pocket before walking out of the DeLand superstore, according to court documents obtained by WKMG.

The Israel Defense Forces’ Home Front Command lifted on Monday morning all restrictions from the communities near the Lebanese border following a situational assessment.

One product "leaves your skin looking bomb," a satisfied fan said, while another called an item "a big bust."

"My whiteness, my masculinity, all those things limit my imagination about what’s possible," Talarico told Roberto Henderson-Espinoza during a March 2021 podcast appearance.

WASHINGTON — The Supreme Court on Monday reinstated a murder conviction in the 1979 disappearance of 6-year-old Etan Patz. The justices, by a 6-3 vote, granted an appeal from New York prosecutors who had urged them to undo a federal appeals court decision that overturned the verdict. The three liberal justices dissented. Prosecutors had been preparing to try the man,...

Chevron Lands 20-Year Deal To Power Microsoft's AI Expansion

Microsoft has signed a 20-year agreement with Chevron to power a massive new AI-focused data center campus in West Texas, underscoring the growing race among tech companies to secure reliable energy supplies, according to Bloomberg.

The project, known as Project Kilby, is expected to begin generating power in 2028 and eventually reach 2.67 gigawatts—enough electricity for more than 530,000 Texas homes.

Chevron is developing the project with Engine No. 1 and expects to make a final investment decision later this year. Despite the enormity of the deal and the inroads into powering AI directly, Chevron stock was little changed after the cash open:

Bloomberg writes that the site near Pecos, Texas, will use natural gas from the Permian Basin to fuel GE Vernova turbines and generate electricity directly for Microsoft's planned data center campus. Because the facility will produce its own power, it will not draw from the grid.

“Consumers are concerned about and are already feeling the effect of power-demand growth,” said Jeff Gustavson, Chevron’s president of New Energies. “We specifically designed this, in this part of the country, to avoid any of that.”

The agreement comes as Microsoft accelerates its AI infrastructure buildout to compete with Alphabet and Amazon. The company has said it plans to double its data center footprint over the next two years, driving demand for large-scale, dependable power sources.

Chevron argues the project also creates a productive use for abundant Permian natural gas that is often wasted because pipeline capacity is limited. “This is the most abundant gas basin in the country, maybe the world,” Gustavson said.

Chevron and Engine No. 1 have already secured orders for seven GE Vernova gas turbines. While Chevron has not disclosed the project's cost, people familiar with the matter previously estimated it at roughly $7 billion.

The deal reflects a broader trend across the U.S., where data center capacity is expected to double to 77 gigawatts by 2030. Texas alone has 33 gigawatts of planned data center power projects, the most of any state, highlighting how AI is reshaping energy demand and infrastructure investment.

At a higher level, the deal highlights a growing shift in how AI infrastructure is being financed and powered. Rather than relying solely on utilities and the existing grid, hyperscalers are increasingly partnering directly with energy producers to secure dedicated generation capacity. That model could accelerate data center development while reducing grid constraints, but it also raises questions about the long-term balance between AI-driven power demand, decarbonization goals, and energy affordability.

As we have constantly written about over the last 2 years, as AI becomes a larger share of electricity consumption, access to reliable power may emerge as a competitive advantage on par with access to chips and computing infrastructure.

Tyler Durden Mon, 06/22/2026 - 10:45

The "signs of life" may have persisted for more than 5,300 years.

The Hsüan-t’ung silver specimen pattern “short-whiskered dragon” dollar year 3 dates back to 1911 and was made at the Tientsin Mint in China.

MS NOW guest and podcast host Akilah Hughes warned on Sunday that America may not last another 250 years based on the current trajectory.

He just led Michigan to a national championship.

French fries are the snack of choice on "Love Island USA" Season 8.

French fries are the snack of choice on "Love Island USA" Season 8.

Diverging Markets And Converging Talks?

By Teeuwe Mevissen, senior macro strategist at Rabobank

Financial markets continue to navigate an increasingly complex macro landscape, defined by the interaction of geopolitical shocks, resurgent inflation pressures, and diverging central bank responses. The key theme remains the tension between resilient risk assets—particularly equities—and a more cautious signal emanating from fixed income markets. This divergence reflects a broader uncertainty about the persistence of inflation and the implications for monetary policy and economic growth.

Meanwhile Iranian and U.S. negotiators have concluded an initial round of high-level talks in Switzerland, with both sides reporting progress. They agreed on a roadmap aiming for a final peace deal within 60 days. Key outcomes include plans to establish a mechanism to de-escalate the conflict in Lebanon and to ensure safe shipping through the Strait of Hormuz. A joint statement confirmed that further technical negotiations will continue, with some delegations staying in Switzerland. A high-level committee will oversee the next phase of discussions. Although the talks were initially tense—partly due to a social media post by U.S. President Donald Trump threatening Iran—both sides ultimately described the discussions as constructive, noting advances on multiple fronts. But it remains to be seen to what extent Iran and the US are truly converging on the more thorny issues.  

Last week’s Federal Reserve meeting saw the dropping of the easing bias narrative. The Fed held the target range for the federal funds rate at 3.50–3.75%, citing solid economic activity and still-elevated inflation pressures. At the same time, updated projections suggest only a gradual decline in inflation towards the 2% target, with core PCE inflation expected to remain above target through 2026. Importantly, the Fed acknowledged that inflation remains influenced by supply-side shocks, particularly energy prices linked to the ongoing Middle East conflict. We expect two rate cuts in April and June next year. For more information you van find the post Fed comment from Philip Marey here.

In contrast, the European Central Bank has already shifted back into tightening mode, raising policy rates by 25 basis points earlier in June. The ECB explicitly cited the inflationary effects of the energy shock and revised its inflation projections upward, now expecting headline inflation to average 3.0% in 2026. At the same time, growth forecasts were revised down—highlighting the stagflationary trade-off facing policymakers.

The global macro backdrop continues to be dominated by developments in energy markets, which remain tightly linked to geopolitical tensions in the Middle East. The disruption to shipping routes in the Strait of Hormuz earlier this year triggered a sharp spike in oil prices and significant supply dislocations, with global inventories declining at an accelerated pace. Although recent negotiations between the US and Iran have raised hopes of a partial normalization in energy flows, the adjustment process is expected to be gradual. Even under a favourable scenario, it could take months for oil production and shipping to return to pre-conflict levels.

This matters because the energy shock is transmitting broadly across the economy. Higher fuel costs are feeding into transportation, food, and industrial prices, raising headline inflation and increasing the risk of second-round effects. At the same time still elevated prices are starting to weigh on demand, with global oil consumption now projected to decline in 2026. In essence, the global economy is facing a classic adverse supply shock—one that pushes inflation higher while dampening real growth.

Despite the challenging macro backdrop, equity markets have shown remarkable resilience. US equities in particular continue to trade close to record highs, supported by strong corporate earnings and a powerful structural narrative around artificial intelligence. Earnings growth has been robust, with companies demonstrating greater pricing power than expected and benefiting from continued investment in AI-related capital expenditure. However, this strength comes with important caveats. Valuations seem elevated, and the market appears to be pricing a relatively benign macro outcome despite clear downside risks. The combination of high inflation, elevated bond yields, and geopolitical uncertainty suggests that equity markets may be underestimating the potential for volatility.

Government bond yields have risen materially. Recently long-end yields in advanced economies reached levels not seen in nearly two decades. Today rates stay close to levels seen last Friday with the10-year euro swap only 1 bp lower but still slightly above 3%. This reflects a combination of factors: Rising inflation expectations due to energy prices, increased term premia amid geopolitical uncertainty and a reassessment of central bank reaction functions The bond market’s message is clear: inflation risks remain skewed to the upside, and policy rates are likely to stay restrictive for longer than previously anticipated. This creates a challenging environment for duration assets and increases the risk of tighter financial conditions feeding back into the real economy.

In currency markets, divergence in monetary policy paths is becoming increasingly relevant. With the ECB tightening and the Fed on hold, relative rate dynamics could provide some support for the euro in the near term. However, this is counterbalanced by weaker growth prospects in the Eurozone and a higher vulnerability to energy shocks.

More broadly, cross-asset dynamics continue to be shaped by the interplay between inflation and growth expectations. The current environment is characterized by: Equity markets pricing resilience, Bond markets pricing persistent inflation and commodities reflecting geopolitical risk. This divergence suggests that markets have yet to converge on a coherent macro narrative.

Looking ahead, one of the key question for markets remains whether the current equilibrium—strong equities alongside high yields—can be sustained. Much will depend on three factors:

1. Energy market developments: Any sustained easing of supply constraints could alleviate inflation pressures, while renewed disruptions would exacerbate them.
2. Inflation dynamics: Evidence of second-round effects, particularly in wages and services, would likely force central banks into a more hawkish stance.
3. Growth resilience: Signs of a sharper slowdown could trigger a reassessment across asset classes.

Finally, news just came in that Keir Starmer has resigned as prime minister and leader of the labour party. What this will mean for the future political landscape in the UK remains to be seen but it surely illustrates the current and ongoing political instability in the UK.

Tyler Durden Mon, 06/22/2026 - 10:25

Key Events This Week: Core PCE, Global PMIs, Micron Earnings And Fed Talk

The main data highlights this week are the global flash PMIs tomorrow, and the US core PCE on Thursday. Elsewhere, other data of interest include the Ifo survey in Germany (Wednesday), Tokyo CPI in Japan (Friday), and CPI reports in Canada (today) and Australia (Wednesday). Also focus will be on the UK where Keir Starmer announced his resignation earlier today and attention will turn on succession planning. 

After a hawkish FOMC last week with a clear shift in style from new Fed Chair Kevin Warsh, DB economists now have two 25bps hikes in their Fed forecast while Bank of America raised their forecast and now expect 3 hikes in 2026, reversing its prior no-change forecast on strong data and a hawkish Fed under Chair Warsh. DB warns that the US economy needed tighter policy but were waiting for the meeting to confirm the tightening view. The central scenario sees two rate increases this year, likely in September and December, taking the fed funds rate to around 4.1%, followed by a prolonged pause through 2027. Easing is then expected to resume in the first half of 2028, with around 50 basis points of cuts, potentially delivered in March and June, bringing policy back towards a neutral range of roughly 3.5–3.75%. 

In terms of the US week ahead, DB economists expect appearances by Williams and Goolsbee on Thursday to be particularly informative. Williams, who also serves as Vice Chair of the FOMC, is seen as one of those not currently predicting a hike this year, while Goolsbee is viewed as leaning towards around 50 basis points of tightening.

Earlier that day, attention will center on the data flow. Economists expect May personal income to rise by around 0.4% (from flat previously) and consumption to increase by 0.6% (from 0.5%). The core PCE deflator is projected to rise by around 0.37% month-on-month, up from 0.24%. On this basis, the year-on-year rate would move higher to approximately 3.44%, marking the strongest reading since October 2023 and reinforcing the narrative of persistent underlying inflation. The Fed will also release its bank stress test results on Wednesday and there is other second tier data you can see in the day-by-day calendar at the end as usual. 

Over in Europe, in addition to the PMIs, sentiment indicators in Germany will include the Ifo survey (Wednesday) and the July GfK consumer confidence print (Thursday). In France, there will be business confidence tomorrow and consumer confidence on Thursday. Finally, the ECB will release its May consumer expectations survey on Friday, with inflation expectations in focus. ECB speakers will include President Lagarde amongst others.

In Asia, inflation prints due include the Tokyo CPI for June on Friday in Japan and Australia’s May CPI due Wednesday. Other notable data features BoJ’s Summary of Opinions from its June meeting (Wednesday), Australia’s labour force survey (Thursday) and the 1-year and 5-year loan prime rates in China (Monday).

Finally, there will be a few notable earnings reports out next week, including FedEx, Cerebras and Carnival tomorrow as well as Micron and Jefferies on Wednesday. Micron is up around 830% over the last year and around 250% since the end of March with a market cap of nearly $1.3tn. So it’s becoming one to follow from the macro side.  

Courtesy of DB, here is a day-by-day calendar of events

Monday June 22

• Data: Eurozone June consumer confidence, Canada May CPI, China 1-yr and 5-yr loan prime rates
• Central banks: Fed's Waller speaks, ECB's Lagarde and Kocher speak

Tuesday June 23

• Data: US, UK, Japan, Eurozone, Germany and France June flash PMIs, US June Philadelphia Fed non-manufacturing activity, Richmond Fed manufacturing index, business conditions, France June business confidence, May retail sales, EU27 May new car registrations
• Central banks: ECB's Lane and Vujcic speak, BoE’s Taylor and Dhingra speak
• Earnings: FedEx, Cerebras, Carnival
• Auctions: US 2-yr Notes ($69bn)

Wednesday June 24

• Data: US May new home sales, Q1 current account balance, Japan May PPI services, Germany June Ifo survey, Australia May CPI
• Central banks: ECB's Nagel and Cipollone speak, BoJ's Himino speaks, BoJ summary of opinions (June MPM), BoE’s Breeden and Dhingra speak, BoC summary of deliberations
• Earnings: Micron, Jefferies
• Auctions: US 2-yr FRN (reopening, $28bn), 5-yr Notes ($70bn)
• Other: Fed releases bank stress test results

Thursday June 25

• Data: US May PCE, personal income and spending, durable goods orders, Chicago Fed national activity index, June Kansas City Fed manufacturing activity, initial jobless claims, Germany July GfK consumer confidence, France June consumer confidence, Italy April industrial sales, Australia May labour force survey
• Central banks: Fed's Williams and Goolsbee speak, ECB's Moulin, Lane and Cipollone speak, BoJ's Tamura speaks, ECB Economic Bulletin
• Auctions: US 7-yr Notes ($44bn)

Friday June 26

• Data: US May advance goods trade balance, retail inventories, wholesale inventories, June Kansas City Fed services activity, JapanJune Tokyo CPI, Italy June consumer confidence index, economic sentiment, manufacturing confidence, ECB May consumer expectations survey
• Central banks: Fed's Kashkari speaks, ECB's Nagel and Vujcic speak

Turning just to the US, Goldman writes that the key economic data release this week is the PCE inflation report on Thursday. There are several speaking engagements with Fed officials this week, including events with Governor Waller and Presidents Williams, Goolsbee, and Kashkari.

Monday, June 22 

• There are no major data releases scheduled. 
• 09:00 AM Fed Governor Waller speaks: Fed Governor Christopher Waller will deliver opening remarks at the fifth conference on the International Roles of the US Dollar in Washington, DC. Speech text is expected. On May 22, Waller said that he is “prepared to be patient in holding policy at its current restrictive setting as we watch how the conflict evolves and what impact there is on inflation and inflation expectations.” He also noted that “if inflation expectations become unanchored, [he] would not hesitate to support an increase in the target range for the federal funds rate, but at this point that action is premature.”

Tuesday, June 23 

• 09:45 AM S&P Global US manufacturing index, June preliminary (consensus 54.6, last 55.1): S&P Global US services index, June preliminary (consensus 51.0, last 50.7) 

Wednesday, June 24 

• 10:00 AM New home sales, May (GS +3.6%, consensus +3.2%, last -6.2%) 

Thursday, June 25 

• 08:30 AM Personal income, May (GS +0.5%, consensus +0.4%, last flat); Personal spending, May (GS +0.7%, consensus +0.5%, last +0.5%); Core PCE price index, May (GS +0.31%, consensus +0.3%, last +0.2%); Core PCE price index (YoY), May (GS +3.38%, consensus +3.4%, last +3.3%); PCE price index, May (GS +0.45%, consensus +0.5%, last +0.4%); PCE price index (YoY), May (GS +4.04%, consensus +4.1%, last +3.8%): We estimate that personal income and spending increased by 0.5% and 0.7%, respectively, in May. We estimate that the core PCE price index rose 0.31% in May, corresponding to a year-over-year rate of +3.38%. Additionally, we expect that the headline PCE price index increased 0.45% in May, or increased 4.04% from a year earlier. 
• 08:30 AM Initial jobless claims, week ended June 20 (GS 230k, consensus 225k, last 226k); Continuing jobless claims, week ended June 13 (consensus 1,805k, last 1,810k)
• 08:30 AM Durable goods orders, May preliminary (GS -3.0%, consensus -5.0%, last +8.0%); Durable goods orders ex-transportation, May preliminary (GS +0.1%, consensus +0.6%, last +1.1%); Core capital goods orders, May preliminary (GS +0.3%, consensus +0.6%, last -1.0%); Core capital goods shipments, May preliminary (GS +0.3%, consensus +0.5%, last +0.4%): We estimate that durable goods orders declined 3% in the preliminary May report (month-over-month, seasonally adjusted) based on our tracking of commercial aircraft orders. We forecast a 0.3% increase in core capital goods orders—reflecting the increase in the new orders components in manufacturing surveys in May—and a 0.3% increase in core capital goods shipments—reflecting the continued increase in core capital goods orders in recent months.
• 08:30 AM GDP, Q1 third release (GS +1.6%, consensus +1.6%, last +1.6%); Personal consumption, Q1 third release (GS +1.4%, consensus +1.4%, last +1.4%): We estimate no revision on net to Q1 GDP growth at +1.6% (quarter-over-quarter annualized). We expect unrevised consumer spending growth at +1.4%.
• 03:40 PM New York Fed President Williams (FOMC voter) speaks: New York Fed President John Williams will give keynote remarks at the Crane Money Fund Symposium in New York City, NY. Speech text and Q&A are expected. On June 3, Williams said, “Monetary policy is exactly in the right place.” He also noted that he does not see “any need to raise or lower interest rates right now.”
• 06:30 PM Chicago Fed President Goolsbee (FOMC non-voter) speaks: Chicago Fed President Austan Goolsbee will discuss the forces shaping monetary policy and what they mean for the American economy at the Chicago Council on Global Affairs. Q&A is expected. On May 18, Goolsbee raised concerns about inflation and said, “We were making progress [on inflation], then we stalled, and now [the inflation problem] is getting worse.” On the labor market, he said, “The labor market might not be good, but it has been stable.”

Friday, June 26 

• 08:30 AM Advanced goods trade balance, May (GS -$84.0bn, consensus -$85.0bn, last -$83.0bn); We estimate that the goods trade deficit widened slightly from $83.0bn in April to $84.0bn, reflecting a $16bn decline in gold exports that was largely offset by an increase in exports of energy goods.
• 10:00 AM University of Michigan consumer sentiment, June final (GS 49.5, consensus 50.0, last 48.9); University of Michigan 5-10-year inflation expectations, June final (GS 3.3%, last 3.4%)
• 11:30 AM Minneapolis Fed President Kashkari (FOMC voter) speaks; Minneapolis Fed President Neel Kashkari will participate in a panel at the Aspen Ideas Festival. On May 29, Kashkari said, “I think it is premature to conclude we need to be raising rates right away.” He also noted, “We need to keep watching the data and watching how the conflict in the Middle East unfolds before we want to make any adjustment.”

Source: DB, Goldman

Tyler Durden Mon, 06/22/2026 - 10:15

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President Donald Trump on June 19 got a look at his upgraded Boeing 747, a plane gifted by Qatar, at Joint Base Andrews in Maryland as the aircraft neared delivery to join the Air Force One fleet.