Daily Note | June 6, 2024 | Rate Cuts Have Begun, Just Not Here

The S&P hit a fresh record yesterday while it seems to flat-lined today ahead of tomorrow's jobs report. The markets jumped 1.2% yesterday and hit an intraday high of 5,354. The Nasdaq also hit a record. Nvidia was a large part of the reason for those records as it rose 5% to top $3 trillion in market cap.

We also had the Bank of Canada initiate the G7 c…