Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Hello and welcome to DC today, Wednesday, June 28th. Brian Saitel here with you, kind of a quiet day in market action. The Dow closed

down about 74 points on the day. It was basically down the entire day by about that much.

I think at one point it might have been down 150 or so, but not more. And just sort of traded sideways.

Interest rates on the day were slightly lower after yesterday's backup.

So we had 10-year close at about 371, which was down five basis points on the day.

So kind of a quiet summer day in trading.

The biggest news really was around a central bank summit in Portugal and in central Portugal, where there was sort of

most of the major central bankers around the world on stage discussing policy, discussing,

you know, their policy and where interest rates might go and inflation and all these sorts

of things. How the US central banker obviously kind of reiterated the same,

basically that, you know, more rate hikes were on the table. And not only that, but that, you know,

consecutive rate hikes could be on the table as well. So read into that, which you might.

The Fed futures right now is pricing in like a 75% chance for a rate increase in July,

which was up a little bit on the day following his comments.

But it's data dependent.

He was asked at one point if he thought the inflation rate would get back to 2%, which is the

target, you know, when he thought that would happen?

Would it be the end of next year,

end of this year, that type of thing? And he said, basically, not until 2025. So, yeah,

the comments were more hawkish than, I think, what had been predicted. LaGarde in the ECB, so

Central Bank of Europe, also said, you know, that there was kind of more

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