2026-06-20
Train crash kills driver, Senate advances college sports bill, SCOTUS rules 9-0 on guns, Fed signals rate hikes possible.
Hello. Saturday brought casualties in the UK, clarity at the Supreme Court, and movement on college sports rules. Markets rallied on Fed signals that cuts may not arrive until fall. Meanwhile, the Trump-Meloni spat over a G7 photo keeps running.
Markets rallied on Fed's rate-hike signal. Clarity beats cuts in the current regime.
Weekend Update
Protect College Sports Act clears Commerce Committee despite opposition from SEC and Big Ten. Full Senate vote pending.
9-0 Second Amendment decision with three concurring opinions. Unanimous rulings are rarer than a coherent budget.
Federal Reserve no longer expected to cut rates in 2026. Gold target revised downward accordingly.
Mark Cabana, co-head global rates research at BofA, notes labor market strength. Rate-cut expectations pushed to October at earliest.
Former Fed Vice Chair Lael Brainard notes new Fed Chair Kevin Warsh's task forces may signal directional change. Hike talk is back.
AG Kris Mayes dismissing criminal charges against Meadows, Giuliani, and others. Claims insufficient evidence for current filing, promises retooled case.
Fed left rates unchanged but signaled hikes are possible. Equities bounced on the clarity.
Democratic-controlled PA Supreme Court rebuked the district attorney. Appointed state Republican AG as his watchdog.
"Worth paying attention to. Don't doomscroll."
"Either he's at Mar-a-Lago or the press is."
SCOTUS went 9-0, Senate moved 19-9, Fed signaled hikes back on table. Consensus where it counts.
Back at 12:00 PM ET with the weekend update brief.