Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
The UK gilts jumped Monday as investors wait to watch the country’s consumer price inflation (CPI) for the month of May, scheduled to be released on June 13. Also, the employment report for the month of April, due on June 14 will provide further direction to the debt market.
The yield on the benchmark 10-year gilts, plunged 3 basis points to 0.97 percent, the super-long 30-year bond yields slipped nearly 1 basis point to 1.67 percent and the yield on the short-term 2-year traded nearly 2 basis points lower at 0.07 percent by 10:00 GMT.
In a major political surprise, the result of the general election called by PM Theresa May has resulted in a hung parliament, with no single party securing a majority of seats. With 649 of 650 seats declared at the time of writing, the Conservatives remain the largest party with 318 seats, but that is down 1 in the 2015 election and short of the nominal 326 needed for a majority.
A hung parliament points to protracted negotiations, creating major political uncertainty, not only in terms of who will end up leading the next government, but also its composition and longevity. Downing Street this morning said that Mrs May has no intention of resigning and reports suggest she will seek permission from the Queen today at 12:30 pm to form a government with the support of the DUP.
Lastly, the new parliament is scheduled to be summoned on June 13 for MPs to be sworn in and a new speaker elected. The state opening of Parliament and the Queen’s speech is scheduled for June (this can be delayed in exceptional circumstances). Hence, a new government would be expected to have been formed by then. A vote in the Commons on the Queen’s speech is expected the following week, which would effectively be a vote of confidence in the new government.
Meanwhile, the FTSE 100 traded 0.16 percent or 12.08 points lower at 7,515.00 by 10:30 GMT, while at 10:00GMT, the FxWirePro's Hourly Pound Strength Index remained slightly bearish at -77.01 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
