Morning News Friday June 1st 2007
General News: - At the Fed, Mr. Kroszner, said that inflation risks were mainly to the upside. - Financial Times runs a story about hedge funds versus the banks and politicians over the subprime markets. - USA Today reported that high gas prices and a weak housing market will hurt auto sales. - Money Supply: M2 rose $18 billion, M1 rose $600 million. - Trimtabs reports that US mutual funds received inflows of $1.95 billion last week. ETFs had an inflow of $2.1 billion. Bond funds had an inflow of $2 billion despite the rise in rates. This reflects an…