Market Commentary: Wednesday 11th June

Despite progress in US–China trade talks, a concrete deal has yet to be reached, and markets are currently stalled, awaiting further details.

Stock markets have returned to all-time highs, despite the April tariff-driven sell-off.

In the latest tariff news, a federal appeals court has allowed Trump to continue enforcing his global tariffs. The court is set to hold a hearing on Trump’s tariff authority on July 31.

CPI will be the main focus today (barring any unscheduled Trump “truths”), with its inflation reading seen as a key indicator for upcoming rate decisions. CPI is currently expected to accelerate, and markets are pricing in one rate cut this year.

On Friday, Trump said he would name a successor “very soon” to replace Jerome Powell, whose term as Fed Chair ends in May 2026. Treasury Secretary Scott Bessent is currently rumored to be the likely next nominee.

• Spot gold rose 0.4% to $3,338.55 an ounce

• Crude was little changed

• Bitcoin fell 0.4% to $109,521.29

• Ether rose 0.8% to $2,795.41

**For professional investors only** Any opinions, news, research, analyses, prices, or other information contained in this blog is provided as general market commentary and does not constitute (and should not be construed as containing) investment advice or an investment recommendation, or an offer of, or solicitation for, a transaction in any financial instrument. Some of this information may have been provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation or warranty, expressed or implied, is made or given by or on behalf of iSAM Securities or its directors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this blog, and no responsibility or liability is accepted for any such information. As a result, any person acting on any information does so entirely at their own risk. iSAM Securities will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.