Iran negotiations hit early snag / PALL in focus / CHF weaker, EURCHF breaking above 200dma

• Iran talks shaky .. : Vance pulled out of scheduled Switzerland negotiations, with the Swiss foreign ministry confirming the talks would not proceed, while Israeli strikes on southern Lebanon continued overnight.

• Markets : JPY back on intervention watch, FED's hawkishness pushes USD higher as you would expect, USDCHF breaking UP.. #EURCHF #GBPCHF with it and #JPYCHF (SNB can intervene more, technically looking good med-term perspective, JPYCHF PPP is far far away like 30% at a minimum as per most investment banks, SNB balance-sheet is 200bn smaller than in 2022 so room to intervene if they want to - PLEASE ASK, if you need more details on this!!), crude back up a bit towards $80 on Iran talks 'struggling', PALL back to attractive 'buy' levels after sell-off from Q1!,

• Ukraine left the G7 with Trump backing oil sanctions on Russia instead of leaning on Kyiv. Europe helps Trump stabilize his Iran deal and clear mines from the Strait of Hormuz. This is transactional diplomacy

• UK's Burnham says Labour has final chance to change after Makerfield by-election win for UK markets ! .. only one way Welfare spending needs to be brought under control

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Iran US Israel war Live Updates: Trump Optimistic on Ceasefire On All Fronts Even As IDF Continues Striking Lebanon | Times Now

U.S.-Iran accord hits early snag after Swiss talks fail to proceed as planned

Lebanon state media says 16 killed by Israeli strikes

Trump offers Ukraine olive branch at G7 — with a price tag – POLITICO

G7 leaders arrived in France expecting a fight over Iran, Ukraine and the next NATO summit. They left more upbeat after Trump signaled readiness to increase pressure on Putin and keep working with allies

Gulf airlines get back to business as flights near pre-war levels | Reuters

Macro Alpha on X: "🚨 The ultimate export-driven free-trade engine of the world is officially capitulating. Berlin floating an EU version of Section 301 tariffs against China is the death knell for the post-2000 supply chain consensus. They are bleeding out from a €100bn bilateral trade deficit https://t.co/0TFmQ1sxFg" / X

This is a violent, structural regime change in global MACRO. Tariffs mean permanently higher friction costs, structurally higher INFLATION floors, and a massive repricing of European margin structures.

SPCX’s next big raise — SpaceX reportedly readies $20B bond offering to refinance debt

Musk's financial engineering, but hey why not do it when you can !

EU set to remove barriers to banks' cross-border capital flows, FT reports

Japan core inflation holds steady in May, matching expectations despite energy price concerns

Andy Burnham says his Makerfield by-election win could be turning point

Burnham brings in top economists before possible leadership run | Andy Burnham | The Guardian

Robert Peston on X: "In May’s local elections, Labour’s implied vote share was 24.3% and Reform’s was more than 50%. Last night Labour’s Andy Burnham received about 55% of the vote, a full 20 percentage points more than Reform’s Robert Kenyon. So Burnham returned what looked like a safe Reform" / X

Palladium Price Live: Analysis & Price Trends | GOLDINVEST