Shanghai Gold Exchange gold T+D down 1.22% at CNY981.95/gram on May 27 (Wed); silver T+D down 2.49% at CNY18,202/kg

MORGAN STANLEY: rising global bond yields push developed-market equity-bond correlation near historical highs; historically when U.S. Treasury yields exceed ~4-5% and European government bond yields exceed ~3-3.5% higher yields start to weigh on stock valuations; strong earnings may let risk assets tolerate higher rates, but bond volatility is a medium-term risk and a larger driver of equity valuations over 6-12 months.

Australia Apr SA CPI YoY 4.2% vs 4.6% Prior