MNI: REPEAT: Livestream MNI Connect VC with Fed's Daly On July 10

Irish HICP rose by 0.2pp to 2.0% Y/Y in April, its highest rate since February 2024 and the second consecutive acceleration. Core HICP was 2.5% in April (2.0% March). Transport inflation rising by 0.4pp to 2.1% Y/Y despite energy falling to -1.7% Y/Y (-0.4% March) tentatively points towards the Easter Effect also being in play in Ireland in the release - that has also been shining through in other national-level releases seen since yesterday.

• If that turns out to be true, there is a good chance that we see at least a partial reversal in Irish core HICP in particular next month.
• Elsewhere, food HICP has decelerated slightly - by 0.1pp to 3.1% Y/Y.

FX Exchange Option, looking for AUD Weakness.

• AUDUSD (9th May) 65.00c, sold at 0.09 in ~1.5k.

• Treasury futures pare gains slightly after lower than expected Apr PMI data, stocks draw some buying off lows.
• Jun'25 10Y currently +4.5 at 112-09.5 high (10Y yld at 4.1581%), back on resistance at 112-12 (61.8% retracement of the Apr 7 - 11 bear leg), next level at 113-04 (76.4% retracement of the Apr 7 - 11 bear leg).
• Cross asset: BBG US$ index holds modest gain at 1223.16 (+0.97); stocks weaker: S&P eminis -110.5 at 5473.25.