June 2025 Middle Market Monitor

Mirus is pleased to share our thoughts on recent market activity in our June 2025 Middle Market Monitor. May 2025 brought a slightly cooler-than-expected U.S. inflation number—up 2.4% on an annual basis—signaling that U.S. tariffs have yet to trickle down to prices on everyday items. The unemployment rate hovered at 4.2% for the third month in a row, and while the Conference Board’s Expectations Index surged 17.4 points to 72.8, it is still below the threshold (80) typically signaling an upcoming recession. U.S public markets responded positively to news of tariff and trade negotiations and finished the month in the green.