The Bank of Japan didn’t put out any fireworks before the weekend, but the yen’s weakness today shows that there was a lot of concern about a reassignment. It was a volatile week of unpredictable and difficult to explain movements. It slowed down today ahead of the US long weekend, but it’s not over yet.

The main highlight is UMich’s preliminary consumer sentiment report for June. This data point has been a terrible measure of future consumer spending this cycle and I hope it gets a dagger in as an economic indicator, but the inflation expectations component still carries weight and is the place to watch in the 10am report.

The Fed is also out of the blackout, with Waller speaking now and Barkin at 9 a.m. ET.