U.S. 6-week Treasury auction through June 16: 35.89% of awards at the stop-out yield, vs 26.63% previously.

Italy May harmonized CPI (final) y/y 3.2% vs 3.3% expected; April 3.3%.

The Reserve Bank of Australia left the cash rate target at 4.35% and said inflation remains high, warning it will take all necessary measures — including further increases in the cash rate target if required — to curb inflation. The Board noted recent Middle East developments have eased oil prices and reduced near-term inflation risk but cautioned that resolution is at an early stage and there are plausible scenarios where inflation exceeds May baseline forecasts while activity is weaker; global oil-supply issues could continue to pressure energy prices and inflation. The unanimous decision was largely priced; the swap market implies about a 30% chance of an August hike and roughly 16bps of tightening priced for the year.