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On June 10, it was reported that in May, the rate of increase in consumer prices in the United States reached its fastest level in three years. The conflict in the Middle East has driven up gasoline and other energy prices, providing further justification for the Federal Reserve to maintain interest rates unchanged until 2027. Data released on Wednesday showed that for the 12-month period ending in May, the Consumer Price Index (CPI) rose by 4.2% year-on-year, marking the largest increase since April 2023. Compared to the previous month, prices increased by 0.5%, following a 0.6% rise in April. The CPI has seen significant increases for three consecutive months, highlighting the growing pressure on households, as there are signs that more consumers are tapping into their savings to cover expenses. Additionally, the inflation rate has exceeded wage growth for the second consecutive month, which could adversely affect overall economic growth. Meanwhile, the sharp rise in the cost of living poses a significant political burden for President Trump and his party, as they seek to maintain control of Congress in the upcoming midterm elections in November.

BlockBeats News, June 10th, according to Bitget market data, after the CPI was announced, the US stock index futures narrowed their losses, with the Nasdaq futures currently down 0.9%, previously falling by over 1.5%. Spot gold rose by about $20 in the short term, trading at $4166.85 per ounce.

BlockBeats News, June 10th, Barclays Global Stock Tactical Strategy Director Alex Altmann stated in a podcast that he has shifted his view on the U.S. stock market to short-term tactical caution. Alex Altmann insisted on a bullish view against the trend in September last year and called for holding positions even when the Iran conflict broke out in March this year, both of which were eventually validated. However, what triggered his current shift was the accumulation of multiple signals in the past two weeks: the significant rise in financing costs has pushed up real yields, compressing stock valuation multiples; retail investors' enthusiasm levels are sometimes even higher than in 2021, when they were in a deep negative real interest rate environment, whereas now it is a positive real interest rate environment; there is almost no short interest on the institutional side. Alex Altmann pointed out: when enthusiasm reaches such a level, the forward-looking return curve of the S&P 500 no longer looks attractive. Altmann has particular concerns about leveraged ETFs, as these products, through daily rebalancing, may drive disproportionate stock trading volume through underlying channels, creating a self-reinforcing spiral of ups and downs, a phenomenon that has been playing out continuously in the past few weeks. The resurgence of momentum trading makes crowded positions highly vulnerable to sharp pullbacks triggered by minor position adjustments or narrative shifts. Altmann expects the S&P 500 to experience a cumulative pullback of about 6% to 7%, with the recent decline considered to have completed over half of the process. If a re-entry into a bullish position is desired, he hopes to see further stock price declines to squeeze out the euphoria, for large IPOs to be well absorbed by the market, and for real yields to fall. If the new Fed chairman can verbally suppress real yields and provide reassurance, it will also be a tailwind for the market.