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CPI M/M Seen High But Slowing In May

OUTLOOK

US Data/Speaker Calendar (prior, estimate)
* Jun-10 0830 CPI May M/M (+0.8%, +0.5%)
* Jun-10 0830 CPI Ex-Food and Energy May M/M (+0.9%, +0.5%)
* Jun-10 0830 CPI May Y/Y (+4.2%, +4.7%)
* Jun-10 0830 CPI Ex-Food and Energy May Y/Y (+3.0%, +3.5%)
* Jun-10 0830 Initial Jobless Claims Jun-5 (385k, 370k)
* Jun-10 0830 Continuing Claims May-29 (3771k, 3650k)
* Jun-10 1030 NY Fed op purchase: Tsy 4.5Y-7Y, appr $6.025B
* Jun-10 1130 US Tsy $40B 4-wk/$40B 8-wk bill auctions
* Jun-10 1300 US Tsy $24B 30Y Bond re-opening auction
* Jun-10 1700 Household Change In Net Worth 1Q ($6925b)
* Jun-10 1900 Monthly Budget Statement May (-$225.6B, -250.0B)

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