I don't know but when I read this, I don't see how it could be interpreted otherwise - Microsoft IS planning to launch new search technology in july folks.
From the Yahoo news article:
Just over a year ago, Microsoft's executives sat down at its Redmond, Washington, headquarters and decided to build their own search technology that would challenge Google's ability to sift through the Web and return results relevant enough to make it the Web's top search provider.
Redetzki said MSN was making steady progress and that July's launch will reflect results driven by a revamped search engine with better algorithms, the underlying logic involved in sifting through information.
"We're much farther along in relevancy," Redetzki said.