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Global EconomyIMPORTANT

UK S&P Global Services PMI Final (May) 49.3 vs. Exp. 47.9 (Prev. 52.7)

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Hospitality and transportation sectors typically commented on squeezed discretionary spending and pressure from sharply rising input costs, while professional services firms reported a setback from rising risk aversion among clients.  Business investment spending on technology services remained a bright spot for parts of the service economy.

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Gulf official tells CNN “50:50” chance US and Iran could reach deal by Friday, CNN reports; Iranian delegation does not include IRGC, which would need to sign off on details of provisional agreement

Geopolitics

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U.S. Economy

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