The upside surprise on United States (US) inflation and jobs market prints in 2024 anchored the trend of higher US treasury (UST) yields, with the 10-Year UST climbing to this year’s high at 4.7% in late-April before settling at about 4.4%. The Market expectations for a Federal Reserve’s (Fed) pivot to materialize this year remain unchanged, though the timeline is being pushed back to the fourth quarter of 2024. European Central Bank (ECB) confirmed a widely anticipated 25 basis points (bps) reduction in interest rates. It takes the central bank’s key rate to 3.75%, down from a record 4% where it has been since September 2023. The Dow Jones Industrial Average (DJIA) Index rose +1.1% and the broader S&P 500 Index surged +3.5%. The Euro Stoxx Index down -1.3% while the FTSE 100 Index declined -1.3%. In Asia Pacific region, The easing measures on the property sector announced in May have modestly revived sentiment. Major measures include the lowering of down payment and financial aid from the People’s Bank of China (PBOC) to support local governments in purchasing unsold but completed projects of up to RMB500 billion. However, Hang Seng Index and CSI 300 Index were down 1.6% and 3.4% respectively in the month of June after the strong rally in April and May. While in Malaysia, There is a correction in the larger cap names in the month of June, largely as investors take profit ahead of expected global pullback and quarter/half-end.