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PM Starmer announced it would be published on Tuesday, and it's being framed as one of his final acts before he stands down as PM. The plan was originally due last year and had been held back amid wrangling within Government over the amount of money required to finance the military. It's landing ahead of the July NATO
**Notes/Observations** - Month-end data flow was broadly constructive for the eurozone but added to the ECB's policy dilemma. French preliminary June CPI surprised to the downside at 1.8% y/y (vs 2.0%e), bringing headline inflation back to target for the first time in three months, while French consumer spending (+0.5%
UK PM Starmer reiterates defense investment plan will be announced before NATO summit
US market experiences rotation away from tech as weakness in mega-cap tech widens, with semiconductors declining 7% and NASDAQ opening down 3%.