The Heat is On - Kuby's Commentary 06.07.2021

"The heat is on, it's on (Wall and Main) street, the heat is on, on, on". The economy has been rebounding sharply, and with that rebound, there has been a surge in inflationary pressures and related concerns over interest rate increases. As such, the market treaded water waiting for Friday's May jobs report for a heat check on employment and the implications for Fed policy. Treasury Secretary Janet Yellen was busy over the weekend, first championing an agreement with G7 nations on a global minimum tax. Fresh off her return from the G7 meeting in London, Secretary Yellen went on Bloomberg News with a message that Biden should push ahead with his infrastructure plans valued at $4T, even if that pushes inflation into 2022. On the economic calendar, all eyes will be on the CPI report, which will be a crucial data set for the Federal Reserve in front of the upcoming policy meeting. All of that and more in this week's Kuby's Commentary.