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WELLS FARGO'S SCHARF: CREDIT QUALITY REMAINS STRONG.

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GERMAN CPI MAY 2023 PRELIM REPORT https://www.destatis.de/DE/Presse/Pressemitteilungen/2023/05/PD23_210_611.html

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GERMAN CPI (MOM) (MAY) ACTUAL: -0.1% VS 0.4% PREVIOUS; EST 0.2%

GERMAN CPI (YOY) (MAY) ACTUAL: 6.1% VS 7.2% PREVIOUS; EST 6.5%

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GERMAN CPI MAY 2023 PRELIM REPORT https://www.destatis.de/DE/Themen/Wirtschaft/Preise/Verbraucherpreisindex/_inhalt.html

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GERMAN CPI YOY PRELIM ACTUAL 6.1% (FORECAST 6.5%, PREVIOUS 7.2%) $MACRO

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⚠️ BREAKING: GERMAN HICP YOY PRELIM ACTUAL 6.3% (FORECAST 6.7%, PREVIOUS 7.6%) $MACRO

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GERMAN CPI MOM PRELIM ACTUAL -0.1% (FORECAST 0.2%, PREVIOUS 0.4%) $MACRO

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GERMAN HICP MOM PRELIM ACTUAL -0.2% (FORECAST 0.2%, PREVIOUS 0.6%) $MACRO

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SECURED OVERNIGHT FINANCING RATE 5.06% MAY 30TH VS 5.06% MAY 26TH.

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POLL: BANK OF ENGLAND ARE TO LIFT BANK RATE BY 25 BPS TO 4.75% ON JUNE 22ND, SAY 48 OF 50 ECONOMISTS (4.50% IN MAY 5TH POLL).

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POLL: BOE BANK RATE TO PEAK AT 5.00% IN Q3 (4.50% IN Q2 IN MAY 5 POLL).

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POLL: THE BANK OF ENGLAND BANK RATE TO PEAK AT 5.00% IN Q3 (4.50% IN Q2 IN MAY 5TH POLL).

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MORNING JUICE - US SESSION https://www.financialjuice.com/News/7441974/Morning-Juice---US-Session.aspx

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CHINA'S MILITARY: U.S. RECONNAISSANCE PLANE DELIBERATELY INTRUDED INTO TRAINING AREA ON MAY 26, ACTIONS HAVE SERIOUSLY UNDERMINED REGIONAL PEACE AND STABILITY

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GERMANY’S CHANCELLOR SCHOLZ, IN ONGOING TALKS ON FINAL BASEL III PACKAGE: WE ARE COMMITTED TO PROPORTIONALITY AND TAILOR-MADE SOLUTIONS.

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GERMANY’S CHANCELLOR SCHOLZ, IN PREPARED REMARKS: UNLIKE 2008, BANKS HAVE BEEN PART OF THE SOLUTION IN RECENT YEARS.

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GERMANY’S CHANCELLOR SCHOLZ: GERMANY HAS WELL-FUNCTIONING SYSTEMS FOR SMALLER BANKS THAT SHOULD NOT BE TOSSED OUT FOR NO REASON.

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GERMANY’S CHANCELLOR SCHOLZ: RESTRUCTURING SUGGESTED BY EU COMMISSION'S BANK REFORMS ARE TOO FAR-REACHING IN SOME CASES.

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GERMAN CHANCELLOR SCHOLZ, IN PREPARED REMARKS: UNLIKE 2008, BANKS HAVE BEEN PART OF THE SOLUTION IN RECENT YEARS

SCHOLZ: IN ONGOING TALKS ON FINAL BASEL III PACKAGE, WE ARE COMMITTED TO PROPORTIONALITY, TAILOR-MADE SOLUTIONS

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CHINA: A US WARPLANE INTERFERED WITH MILITARY TRAINING ON MAY 26TH.