Bond traders-maintained bets that the Federal Reserve will raise interest rates by the end of the year, even after a soft US core inflation reading eased pressure on Chairman Kevin Warsh to act sooner.

Interest-rate swaps showed traders were still pricing in a rate hike by December after the report on Wednesday, while Treasury yields were little changed. The rate on two-year notes, which are more sensitive to near-term changes in monetary policy, was 4.11%, down from around 4.13% before the figures. The US dollar slipped.

“The biggest takeaway is that it gives the Fed a tiny bit of breathing room,” said Dan Carter, senior portfolio manager at Fort Washington Investment Advisors. “Another hot month would have put a lot more pressure on them on rate hikes, but this is just soft enough to allow them to wait and see.” The core consumer price index, which excludes food and energy to show underlying inflation, increased 0.2% from April, compared to a 0.3% consensus forecast among economists polled by Bloomberg.

Ahead of the report, traders in the options market linked to the Fed-sensitive Secured Overnight Financing Rate had been piling into positions targeting multiple rate hikes in the coming months. Some had even embraced wagers for a move as soon as September following Friday’s strong US employment report.
Those moves capped a repricing in the bond market since late February, when the US-Israel attack on Iran sparked a surge in oil prices. That upended bets that the central bank under Warsh would be able to lower rates, as Trump has advocated.

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Gold prices in Thailand experienced extreme volatility on June 10, 2026, with 38 revisions. The day concluded with a sharp THB2,450 drop, prompting investor and consumer caution.

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Key Points

• Gold prices on Wednesday, June 10, 2026, experienced significant intraday volatility.
• The Gold Traders Association recorded 38 price adjustments before the market’s final close.
• Prices dropped sharply by THB2,450 from the previous day, leading to investor and consumer scrutiny.

Volatile Trading Day Culminates in Sharp Decline

Gold prices on Wednesday, June 10, 2026, experienced extreme volatility, marked by an unprecedented 38 successive price revisions announced by the Gold Traders Association. This dynamic trading environment persisted throughout the day, creating an atmosphere of uncertainty for market participants. The day’s trading concluded with a significant downward correction at the 5:11 PM market close, indicating a pronounced shift in market sentiment during the latter part of the trading session.

Substantial Price Drop Impacts Market

The sharp decline observed at the close of trading represented a considerable loss for gold holders, with the price falling by a total of THB2,450 compared to the preceding day’s closing value. This substantial price movement prompted widespread attention from both investors, who are closely assessing the implications for their portfolios, and consumers, who are monitoring the affordability of gold. The significant drop underscores the sensitivity of gold prices to various market forces and investor behavior.

Investor and Consumer Vigilance

Following the day’s pronounced price fluctuations and the significant drop, a heightened sense of vigilance is evident among both investors and consumers. The latest market data, specifically the 38th announcement of gold buying and selling prices, serves as a critical reference point for understanding the immediate impact of the day’s trading. This close monitoring is crucial for making informed decisions in the wake of such a volatile trading period and anticipating future price movements.

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Pacific Investment Management Co. is warning that the “credit loss cycle is upon us” as heavy spending on artificial intelligence could widen economic outcomes and hit lower-quality borrowers. Pimco’s Richard Clarida, Andrew Balls and Daniel Ivascyn said in the firm’s latest annual secular outlook report that “the default cycle is reasserting itself, and we expect significantly higher losses in lower-quality credit such as leveraged and private direct lending.”

Pimco, which manages $2.3 trillion in assets, said the AI buildout could widen the range of economic outcomes over the next five years while leaving weaker and more heavily leveraged borrowers more exposed. High-grade credit spreads — the extra yield investors demand over US Treasuries to hold highly rated corporate debt — remain near their lowest levels in three decades. Demand for riskier debt has also held up despite a recent global bond selloff, as higher yields draw buyers. Pimco said that backdrop clashes with “elevated secular uncertainty,” and “we interpret this as complacency rather than strength.”

The firm also pointed to “increased instances of maturity extensions and payment-in-kind structures that allow borrowers to repay debt with more debt.”

The General Services Administration (GSA) on Wednesday announced the sale of the Old Post Office Building located at 1100 Pennsylvania Avenue in Washington, D.C.

The building was previously the Trump International Hotel from 2016 to 2022 until the Trump family firm sold the leasing rights for $375 million. The hotel reopened later in 2022 as the Waldorf Astoria Washington D.C., under the management of Hilton.

GSA said that its sale of the building included terms that “permanently secured public access to the iconic clock tower while establishing strong protections for the building’s architectural heritage through a binding preservation covenant.”

The deal also includes a dedicated fine arts covenant that will retain the American public’s ownership of artwork within the facility, including Robert Irwin’s “48 Shadow Planes” and a historic Benjamin Franklin Statue.

TRUMP REVEALS NEW WHCA DINNER VENUE AFTER SHOOTING CHAOS DERAILED GALA

GSA’s sale is moving forward under the terms of the existing ground lease, which gives BDT MSD Partners, a merchant bank, the right of first offer. 

The Wall Street Journal reported that BDT & MSD Partners acquired the building and land for $80 million, according to people familiar with the matter. The report noted the bank is discussing selling the property for a total of $400 million.

Hilton currently has a long-term agreement in place with the hotel to operate it as the Waldorf Astoria, and that arrangement would continue with a new leaseholder, the Journal reported.

TRUMP ORGANIZATION CLOSES $375M SALE OF DC HOTEL THAT WILL BECOME A WALDORF ASTORIA

The Old Post Office Building was completed in 1899 and originally served as the headquarters for the U.S. Post Office Department and the post office for Washington, D.C.

It is listed in the National Register of Historic Places and its Romanesque Revival architecture makes it one of the most recognizable buildings on Pennsylvania Avenue, featuring a prominent clock tower and atrium. The facility is also located near the White House and other Washington, D.C. landmarks.

THE TRUMP ORGANIZATION EYES DEAL TO CONVERT DC WALDORF-ASTORIA BACK INTO TRUMP INTERNATIONAL HOTEL: REPORT

According to GSA’s announcement, before the property was redeveloped into a hotel, taxpayers were absorbing about $6 million a year in losses on the building. 

Since then, there has been over $250 million in private sector capital invested in the property and taxpayer revenues in the last decade, including the current sale, are expected to exceed $110 million.

GSA has listed dozens of other federally-owned properties for sale since early last year as the Trump administration looks to reduce federal spending on underutilized office space and real estate.

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