🌏 Market Snapshot:

• Japan’s Nikkei up 0.47% — core inflation accelerates to 3.5% YoY

• Singapore inflation beats expectations, fueling price pressure concerns

• European markets mixed:→ Stoxx 600: -0.03%→ FTSE 100: +0.09%→ DAX: +0.17%→ CAC 40: -0.42%

• Wall Street futures slightly down:→ Dow Jones: -0.12%→ S&P 500: -0.09%→ Nasdaq: -0.07%

• U.S. bond market closes early at 3 PM (ET) due to Memorial Day

• Focus on 5th round of U.S.-Iran nuclear talks in Rome

European Economic Data Beats Expectations

Europe delivers upside surprises this morning:

• Germany’s GDP grew 0.4% in Q1, its strongest performance since 2022

• UK retail sales rose 1.2% in April, driven by higher food purchases