Markets Await Key Data

• It was a subdued start to the week, with US bond markets closed overnight for Memorial Day and little directional flow in major markets.
• Sentiment improved after Donald Trump delayed his proposed 50% tariffs on EU goods, extending the deadline to July 9 following talks with European Commission President von der Leyen.
• Futures point to a modest decline in AUD yields at the open, mirroring softer global sentiment.
• No major domestic data is scheduled for today, though weekly consumer confidence will be watched ahead of tomorrow’s April CPI print — an important data print for the RBA’s July decision.