Markets bounced around a lot last week, but focus was mostly on the SpaceX IPO, the largest IPO ever which successfully priced on Thursday evening. The war between the US and Iran continues, oil and gold were lower, and bonds improved.

"....That being said, let’s motor on to what really matters in the coming days – May CPI in the U.S. (released yesterday), upcoming central bank meetings, the SpaceX IPO which is on the launch pad (no pun intended), and U.S. social security."

Stocks were better again last week, led by European stocks. US stocks were also better in spite of a difficult start to the week, with non-tech shares leading gains. The DJIA closed at a record high. Bonds stabilised although policy-sensitive yields at the short end of the curve actually moved higher. NVDA earnings and the pending SpaceX IPO dominated the news flow.