Macro Briefing: 9 June 2023

* Trump indicted in in classified documents probe by federal investigation
* Fed expected to pause rate hikes next week via survey of economists
* Resilient US economy raises uncertainty for Fed policy path
* Labor slowdowns at West Coast ports causing new supply chain disruption
* Middle-income buyers face a severe housing shortage
* China faces deflation risk: 1-year producer prices fall at steepest pace in 7 years
* US jobless claims rise to highest since October 2021:

Bear market for US stocks ends, some analysts advise. “Bottom line, the economy has been very resilient,” says Anthony Saglimbene, chief markets strategist at Ameriprise Financial. “So much negativity was built into the market,” he says. “While it’s too early to know this for sure, stocks look like they’re doing what they normally do when all the negativity has been discounted into the stock market: They start moving higher in anticipation of better days ahead.”