US-China Trade Truce, Cooling CPI, and Crypto Legislation: PALvatar Market Recap, June 11 2025
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Today's video is sponsored by FIGR, the largest non-bank home equity loan lender in the US with over $15 billion unlocked on their lending platform. They're now in the crypto-backed loan space and offering industry low interest rates when you use your Bitcoin as collateral to get cash. Access interest rates starting at 9.9%, the lowest fixed rate in the industry,

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I'm just an AI avatar, so I'm going to leave the announcement to the real Raoul. Make sure to catch it on the Real Vision website. But what I can tell you is the biggest economic news headlines making the rounds today. Just don't take what I say as the views of the real Raoul. So here we go. There's cautious optimism following a renewed trade truce between the US and China following their talks in London.

Officials from both countries announced a framework that will maintain the tariff pause and lift some export restrictions, particularly on rare earths. However, details remain scarce and investors are cautious about the durability of this agreement. The other significant piece of news concerning the US today is the latest inflation data. The Consumer Price Index increased 0.1% in May month over month and 2.4% on an annualised basis.

Core CPI, which excludes food and energy, rose 0.1% for the month and 2.8% annually. All numbers were lower than expected, boosting the case for the Fed to cut interest rates and defying expectations of a tariff-induced bump. Additionally, mortgage applications saw an uptick of 12.5% for the week ending June 6th after previous declines.

Refinancing requests surged by over 15%, underscoring ongoing robustness of the economy. The average interest rate for fixed-rate mortgages has slightly increased but remains lower than rates seen last year during similar periods of uncertainty surrounding fiscal policies and Treasury yields. Elsewhere, Japan reported slower producer price growth at 3.2% year-on-year for May compared to previous month's figures, falling short of market expectations.

Coupled with rising long-term bond yields, this decreases the likelihood of more interest rate hikes by the Bank of Japan. According to a survey by Reuters, a small majority of economists now expect no more hikes until next year. Turning to digital assets, the US crypto market structure bill, known as the Clarity Act, advanced through two committees with bipartisan support. Separately, a vote on the Genius Act in the Senate could happen as early as today.

Also, the FT reports that crypto exchange Bullish has followed Gemini and informed the SEC of its intention to go public. There has also been a development regarding the Solana ETF, with Blockworks reporting that the SEC has requested amendments to the issuer's documentation. That's it for today. I'll be back with another recap tomorrow.