Israel Defense Forces said it detected projectiles launched from Lebanon toward multiple settlements in northern Israel; the IDF Home Front Command issued precautionary orders and authorities instructed residents to enter shelters or safe rooms when alarms sound.

Major banks and economists expect US May unadjusted headline CPI y/y to cluster at 4.2%. A subset of forecasters project 4.1% (ABN AMRO, Berenberg, DBS Group, Scotiabank, UniCredit); several firms forecast 4.3% (JPMorgan, Morgan Stanley, Citigroup, Goldman Sachs, HSBC, Barclays, Danske, BNP Paribas). For unadjusted core CPI y/y, forecasts split between 2.8% and 2.9% — Morgan Stanley, BofA, Citigroup, Goldman Sachs and Nomura at 2.8%, while UBS, TD Securities, Wells Fargo, ABN AMRO, BNP Paribas, BMO, Barclays, HSBC, Jefferies, ING, Sumitomo Mitsui, Scotiabank, Societe Generale, Standard Chartered, Stifel and UniCredit are at 2.9%.

U.S. Deputy Secretary of State Lando said the U.S. is moving to release energy reserves and boost LPG and LNG sales to ASEAN.