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U.S - China 'frame work' agreed >>> 90 deals in 90 days, still none done Markets : U.S - China gree framework to ease tensions (China had the upper hand on rare earth..), Trump going full authoritarian before our eyes L.A. curfew (few seem to bother with the news though, it's spreading in other cities overnight...) , Bessent emerges as possible replacement for Powell, looting iPhones has become tricky!, Trump's handshake tactic didn't work with Merz!, Saxo's Hardy's macro view below, precious metal roaring #PLAT #PALL #XAG ..., equity near highs still, last 'soft' U.S CPI before tariffs impact this afternoon (probably, risk it ticks up already) CNBC’s The China Connection newsletter: AI hits an already weak jobs market Trump tariffs to remain in place pending appeal, court rules Pentagon planted UFO myths to conceal secret weapons programs, report reveals World Bank cut its global growth forecast for 2025 by 0.4% to 2.3% Iran lawmakers accuse US and Israel of planning nuclear talks trap The U.K., Canada, Australia, NZ, & Norway sanctioned two far-right Israeli government ministers and... Netanyahu to U.S. Defense Secretary Hegseth: “Muslims see the U.S. as the Great Satan, and Israel as the Little Satan. Our war is your war, and our victory is your victory.” #Iran The EU again proposed lowering the Russian oil price cap from $60 to $45, banning the use of the Nord Stream pipelines, and cutting another 22 Russian banks from the SWIFT Macron says he’ll ban social media for under-15s in France. French government also wants to ban websites selling knives to children Hardy’s Macro View: Rule #4 for the Trump 2.0 market era. | Saxo Summary:  In this final installment of our four-part series, we examine Rule #4 for navigating the Trump 2.0 era: we are entering an inflationary age. Unlike previous inflation episodes, this one is structural, rooted not just in policy choices but in the deeper rewiring of the global economy. Iran lawmakers accuse US and Israel of planning nuclear talks trap U.K., Canada, Australia and others sanction 2 far-right Israeli ministers for 'inciting extremist violence' Macron says he’ll ban social media for under-15s in France – POLITICO Gavin Newsom on X: "California will keep fighting on behalf of all our people including in the courts. If some of us can be snatched off the streets without a warrant, based only on suspicion or skin color, then none of us are safe. Authoritarian regimes begin by targeting people who are least https://t.co/7qXkrLopkc " / X US, China Officials Agree on Plan to Ramp Down Trade Tensions The US and China have agreed to a preliminary deal on implementing the consensus reached in Geneva, with negotiators from both sides saying they "absolutely expect" issues around rare Earth minerals and magnets to be resolved. While  full details of their accord are not available, the US and Chinese delegations will now take the proposal back to their respective leaders, said China’s chief trade negotiator Li Chenggang, after two days of discussions that spanned nearly 20 hours in a Georgian-era mansion near Buckingham Palace.  NEXTA on X: "🤝Merz wasn’t just waiting — he was preparing for this meeting! Outplayed and destroyed Trump’s dominant handshake. https://t.co/jIz6SbhTzX " / X Solid hand shake Merz has ! Exclusive: Hyundai Motor has a rare earths stockpile that can last about a year, source says | Reuters Fed to keep rates on hold at least until September as inflation risks linger | Reuters Bessent emerges as possible contender to succeed Fed's Powell, Bloomberg reports | Reuters Trump tariffs to remain in place pending appeal, court rules CNBC's The China Connection newsletter: AI hits an already weak jobs market Trump says Iran has become 'much more aggressive' in nuclear negotiations | Fox News Ed Miliband to boost Britain’s nuclear power as blackout fears rise Pentagon planted UFO myths to conceal secret weapons programs, report reveals Los Angeles curfew comes into force as Trump says he'll 'liberate' city amid anti-immigration protests and looting Playbook PM: Why Republicans’ megabill deadline could slip - POLITICO Brian Krassenstein on X: "New York, Los Angeles, Austin, Denver and Atlanta. Is this what you voted for MAGA? The country certainly wasn’t this divided under Biden. Seems like a problem at the top. https://t.co/fDC95WW1L5 " / X Brendan Gutenschwager on X: "Alarms blaring on multiple iPhones that were taken from the Apple store in downtown LA Displays on the devices read “Please return to Apple Tower Theatre This device has been disabled and is being tracked. Local authorities will be alerted.” https://t.co/rhMiaRXA9z " / X Looting i-Phones became quite tricky!!

WSJ- Export controls..... a major concern for industries worldwide—are moving to the top of the agenda of Monday trade talks between the U.S. and China Markets : Donald Trump says he supports DHS Head Tom Homan arresting Gavin Newsom (surely not..), 700 marines sent to L.A., #PLAT prices highest in 4years, VIX did it, all about vol supression/thread below #VIX A 63% collapse in the VIX over 9 weeks signals a regime dominated by volatility suppression mechanics: systematic vol selling, gamma pinning, and options-driven dealer flow. But history shows this level of compression often precedes a disorderly unwind, not because of what traders see, but because of what they’ve stopped hedging. The real risk isn’t elevated volatility it’s the illusion of stability in a leveraged, fragility-prone system. When volatility sells off this hard, it’s not a celebration it’s a coiled spring. Trump says China ‘Not Easy’ as Trade Talks to resume today, India follows China & the U.S. back towards coal as energy demand surges far beyond what renewables can provide US oil rigs are increasingly going offline as crude prices fall. The Baker Hughes US crude oil rig count has dropped to the lowest since 2021 Auto companies 'in full panic' over rare-earths bottleneck US Health Secretary RFK Jr. has removed all members of the CDC panel advising the US on vaccines. China built its own ASML, Lam, and KLA in five years. No hype. No Western parts. The loop is almost closed. China’s exports to the U.S. are down 35% year-on-year in May. China’s exports to the rest of the world are up 4.8%. Trade surplus? A clean $100 billion Orban thinks Russia too weak to attack NATO Brian Krassenstein on X: "BREAKING: Gavin Newsom to Trump and Tom Homan: “Arrest me. Let’s just get it over with, tough guy. I don’t give a damn… Tom, arrest me. Let’s go.” Los Angeles was fine until Trump massively brought ice agents into the city in order to distract from his Elon feud. https://t.co/XJvEB26DAU " / X Export Controls to Take Center Stage at U.S.-China Trade Talks - WSJ Trump Says China ‘Not Easy’ as Trade Talks to Resume Tuesday Trade talks between the US and China will continue into a second day in London, aiming to ease tensions over technology and rare earth elements shipments. Representatives for both nations had ended their first day of negotiations in London after more than six hours at Lancaster House. ·The US is willing to remove restrictions on some tech exports in exchange for China easing limits on rare earth shipments, with the Trump administration prepared to lift recent measures targeting chip design software, jet engine parts, and more. Complacency all around. What provides next spark? | Saxo Summary:  Not much direction in this market as volatility continues to ebb and the market can’t work up much excitement for macro data or trade headlines. Focus this week on US treasury auctions and especially the May US CPI data tomorrow. EndGame Macro on X: "A 63% collapse in the VIX over 9 weeks signals a regime dominated by volatility suppression mechanics: systematic vol selling, gamma pinning, and options-driven dealer flow. But history shows this level of compression often precedes a disorderly unwind, not because of what" / X NEXTA on X: "🇭🇺Orban has been replaced! Putin's friend thinks Russians are too weak to attack NATO — Do you see the risk of a general war in Europe? — No. — Why? — Because the Russians are too weak for that. They can't even defeat Ukraine, so they are not capable of truly attacking NATO. https://t.co/2nVMPoerYb " / X The stealth Senate dealmaker who could deliver Trump’s tax cuts - POLITICO Los Angeles latest: 700 marines to be deployed - as thousands of troops 'given no food or water' | US News | Sky News Britain to invest 14.2 billion pounds in Sizewell C nuclear project | Reuters High Street struggles as shoppers slam the brakes on spending: Retail sales see weakest growth this year | This is Money Switzerland hits UBS with $26 billion added capital requirement; shares rise Platinum price surges to highest in four years as market tightens - MINING.COM WWDC25 updates: Apple brings OpenAI into Image Playground app The world’s strongest currency is also super-competitive  - SWI swissinfo.ch China's SMEE files patent for an EUV chipmaking tool — tool aims to break the shackles of ASML export restrictions | Tom's Hardware Auto companies 'in full panic' over rare-earths bottleneck | Reuters India's $80 billion coal-power boom is running short of water | Reuters Ukraine humiliates Putin again as covert drone operation destroys 100+ | World | News | Express.co.uk Ukraine: Russia launches hundreds of drones at Ukraine overnight | News UK Video News | Sky News France reiterates its military equipment isn’t used in Gaza as dock workers block shipment to Israel – POLITICO

Markets : May NFP report points to gradual moderation in labor market, Q1 GDP in Japan contracted 0.2% (less than 0.7% prev announced), carnage-shocking stuff in L.A. (large amount of ICE agents suddenly turn up there..., just as Musk talked Epstein files..coincidental distraction..?..) >>> U.S CPI, PPI, jobless clains and inflation exp coming up, UK spending, China /U.S trade talks ongoing, FED looks unlikely to cut next week, market may price something if CPI is soft(er) China approves some rare-earth export application Trump official who shut down counter-Russia agency has links to Kremlin Darren Beattie, who alarmed the State Department with his pro-Moscow views, is married to a woman whose uncle has ties to Vladimir Putin A cargo ship carrying around 3,000 vehicles, including 800 electric vehicles , caught fire June 3 off the coast of Alaska!!! , causing its crew to be evacuated – its operator Zodiac Maritime confirmed in a statement to USA TODAY GOLD, Silver, PLAT ! and PALL we love still, but the real long term dar hoerse is #copper '' We need to mine as much copper in the next 25 years as we have mined in the last 1000 years'' Goldman: … clients have engaged in buying stocks to increase their net exposure, but would highlight gross exposure remains at some of the highest levels of all time. The risk of a right tail rally against an overly short index portfolio is palpable , and you can see this reflected in the SPX vol surface, the closer we get to retaking the ATHs, the more bid call skew has become  … the closer we get to spx ATHs the harder it is to ignore this rally The market value of Treasury Bonds as a % of the market value of Stocks has fallen to its lowest level since the 1960s Old article, but still.. - Historian finds German decree banishing Trump's grandfather. Royal decree ordered Friedrich Trump to leave Bavaria and never come back after he failed to do military service, that's why Merz brought him the birth certificate at the WH.. Wall St Week Ahead US stocks edge toward records with inflation data, policy progress in focus | Reuters MS - We expect the US Treasury curve to steepen much further than it has so far. At the same time, we don't think 30-year Treasury bond yields drive the curve steeper by rising as they have year to date. Instead, we expect investors to face lower yields across the Treasury curve, led by shorter maturities. Still, just as lower yields have proved elusive over the past two years, stubbornly high levels may continue to frustrate investors over the next six months. Our economists believe tariff-related inflation will prevent the Fed from lowering rates this year – a dynamic which may keep Treasury yields in their two-year range for longer. China consumer deflation deepens as demand stays weak despite stimulus China approves some rare earth export applications: commerce ministry - Chinadaily.com.cn Brazil plans panda bond as Lula looks to bolster ties with China Brazil is hoping to sell its first sovereign debt in the Chinese market as soon as this year Japan's Q1 GDP contraction narrows on consumption improvement - Nikkei Asia Arne aus den Ruthen on X: "Mexico’s president-elect just said: “If necessary, we’ll mobilize. We don’t want taxes on remittances from our fellow countrymen. From the U.S. to Mexico.” A head of state openly calling for protests in the U.S. This is unprecedented. https://t.co/JqFETt5NKr " / X Hummm Gavin Newsom on X: "Trump’s border czar is threatening to arrest me for speaking out. Come and get me, tough guy. I don't give a damn. It won’t stop me from standing up for California. https://t.co/DvVQljAgir " / X Los Angeles live: British photographer has emergency surgery after being hit by non-lethal bullet amid LA unrest | US News | Sky News Ship carrying 3,000 cars abandoned after fire. EVs suspected as source That's really good for the ocean and environment, no-one will speak sbout this though Google DeepMind’s CEO Thinks AI Will Make Humans Less Selfish | WIRED If you buy that artificial intelligence is a once-in-a-species disruption, then what Demis Hassabis thinks should be of vital interest to you. Hassabis leads the AI charge for Google, arguably the best-equipped of the companies spending many billions of dollars to bring about that upheaval. He’s among those powerful leaders gunning to build artificial general intelligence, the technology that will supposedly have machines do everything humans do, but better... hummmm, going too far too fast IMHO, I don't particularly like regulations, but there are almost none...what could possibly go wrong.. Trump official who shut down counter-Russia agency has links to Kremlin Historian finds German decree banishing Trump's grandfather | Donald Trump | The Guardian

D-Day 81years. Respect Markets : Trump gone full TACO on everything... Reasonably good meeting with Merz ( Right in front of the German chancellor Trump claims credit for ending Nord Stream 2, and suggests part of the calculus was to replace Russia as Germany's gas supplier) , and a proper fall out with Musk ( #TSLA shares down sharply - Trump will very most likely cut subsidies..it was ALWAYS about the money!.) , Trump/Xi agreed to get talking again, >>> even 'interest on reserves' being discussed (Cruz below Thread), Lagarde had a huge speech >>> positioning on the Rule of Law and being predictable (just what's lacking in the US and China..), rate cut cycle looks nearly over, they should tighten up privacy law and get Techs going! >> supportive EURO >>> Equity a little volatile day-to-day (often happens on top-bottom of ranges), let's see how goes after NFP today >>> precious metals 'what else' , Huge break up through long term resistance for #PLAT #XPTUSD and #XAGUSD Trump/Xi : nothing been agreed, but they will meet, high official level, they  agree to start new round of talks ASAP China states goal of leaders should be to expel misunderstandings Trump calls Chinese leader ‘brilliant’ ECB basically now in pause Trump agreed with Elizabeth Warren on eliminating Debt Ceiling as August deadline approaches >>> so we've gone from being sensible and cut spending by $2trn #DOGE (lucky if 150bn of cuts happen..) to now let's spend and MMT this all the way...good grief >>> the truth is there will be NO govt spending cuts in a soaring budget deficit, until some sort of 'crisis' in either UST's or USD, which will leave Senate no choice but to have to do something... Zelensky's drone operation 'supported by CIA, MI6' — Jeffrey Sachs 'Surely the US knew, if it didn't, then the incompetence level of our intelligence is staggering beyond belief' Japan's Nikkei is reporting that competing views among Trump's advisers have delayed efforts by Washington to strike a deal with Tokyo. One source says that at one point, Lutnick, Greer and Bessent put the talks with the Japanese delegation on hold and began debating "right in front of them" >>> 90 deals in 90 days - good times.. Musk vs Trump: the political firestorm that’s torching Tesla’s stock | Saxo Tesla stock falls 15% in a week as big investors look to bail BANNON: President Trump should act immediately. If Elon’s threatening to pull a major program from SpaceX, Trump should sign an executive order tonight under the Defense Production Act. SpaceX should be seized by the U.S. government before midnight. (1) Arnaud Bertrand on X: "Absolutely unreal. Right in front of the German chancellor Trump claims credit for ending Nord Stream 2, and suggests part of the calculus was to replace Russia as Germany's gas supplier: https://t.co/rHjH0MmVw1 "I'm the one who ended Nord Stream 2, going to a place called" / X ECB cuts rates by 25 basis points as inflation cools, trade tensions loom That's a kind of move that would hurt banks... ! Aaron Rupar on X: "CNBC: You think that's gonna go through -- telling the Federal Reserve that can't pay interest to banks anymore? TED CRUZ: For nearly 100 years, until the financial crisis, the Fed paid no interest on reserves CNBC: It was put in place to ensure the stability of the financial https://t.co/ujirfd6oVq " / X Debt-Service Effects Derived From H.R. 1, the One Big Beautiful Bill Act | Congressional Budget Office Trump Agrees With Elizabeth Warren On Eliminating Debt Ceiling As August Deadline Approaches Bessent, Lutnick and Greer keep Japan guessing in US tariff talks - Nikkei Asia Britain at a crossroads: Finance, industry and the global adjustment – POLITICO Trump speaks with China's Xi Jinping as trade war intensifies Republicans against Trump on X: "Steve Bannon says Elon Musk and Treasury Secretary Scott Bessent had a ‘physical confrontation.’: “Scott Bessent called him out and said, ‘You promised us a trillion dollars in cuts, and now you’re at like $100 billion. Nobody can find any savings. What are you doing?’ And https://t.co/yUltiqDCJx " / X (1) Adam Schwarz on X: "German Chancellor Merz sets the record straight after Trump tries to draw moral equivalence between Russia and Ukrainian actions: "Ukraine is only targeting military targets. Not civilians, not private [property], not energy infrastructure. This is the difference." https://t.co/xKx0rjsVvd " / X (1) Jay in Kyiv on X: "After implying that Merz is not happy the Nazi's were defeated, Trump sits like an idiot as Merz tells him its time to stop kissing Putin's ass. https://t.co/NguilepRNC " / X WW2 Veterans gather in Normandy to remember D-Day landings | UK | News | Express.co.uk

Markets : USD weakened on weaker ADP (37K, the lowest in more than 2 years), spirited UST rally across the curve with 30s back to 4.87%, had a bit of short squeeze feel to it with discontinuous NFP price action coming up tomorrow (a weak one will push market to price something for the June Fed meeting in 2 weeks..). Trump's bill to add $2.4trn to deficit (CBO), and now Musk escalates attack, urges Americans to 'kill' Trump's tax cut bill, Key Senate Republicans strategized with Trump today on how to cut spending deeper, EUROPE has to be totally united, more than ever before/Thread below >>> ECB will cut (all priced in), weak NFP will lead to June cut talks, USD stays weak(er), precious metals should confirm break up #PLAT #PALL #XAG and gold of course also Gold miners #GDXJ broke up last week looks like silvers miners finally doing it this week #SILV etc EU is discussing a "triple threat" from Trump regarding Ukraine, NATO and trade - FT Michel Barnier slams ‘authoritarian drift’ in Brussels under Ursula von der Leyen Fox: Some of the biggest names on Wall Street are getting anxious . Billionaire Bill Ackman says if tariffs stay in place, we face an economic nuclear winter. Banker Jamie Dimon says tariffs will slow economic growth. Fed Chair Powell has said tariffs will bring higher inflation Google backs AI-boosted nuclear fusion reactor HELOC withdrawals surge to highest level in 17y in first quarter (..2008)- ICE Mortgage The Global Gold Divergence: East Accumulates, West Distracted/Thread #XAUUSD Central banks been buying nearly 4x more gold than what has been publicly disclosed, according to Bloomberg. A new gold rush is unfolding in real time.... It’s been many years since you’ve seen overseas markets dramatically outperform the US. Dollar fell a lot after tech stocks blew up in 2000 >>>> Goldman: the Chinese yuan may now be commencing a multi-year strengthening path against the USD (...they all slowly joining in...) >>> #USD is near very key long-term support, showing signs of breaking down, let's see after ECB today and NFP tom #MSFT is laying off more workers as AI continues to trim workforces.. Canada just hit back at U.S on trade - tariffs — and pretty hard EU is discussing a "triple threat" from Trump regarding Ukraine, NATO and trade - FT | УНН ADP report shows meager growth, Trump lashes out at the Fed Trump tax bill would add $2.4 trillion to the deficit over a decade: CBO Four reasons Musk attacked Trump's "big beautiful bill" Musk escalates attack, urges Americans to 'kill' Trump's tax cut bill | World News - Business Standard Michel Barnier slams ‘authoritarian drift’ in Brussels under Ursula von der Leyen – POLITICO EndGame Macro on X: "The Global Gold Divergence: East Accumulates, West Distracted A historic dislocation has emerged across the global gold market. Despite gold prices surging past $3,360 per ounce, both net speculative futures positions and total gold ETF holdings remain deeply subdued. This https://t.co/MLP1FJFNeN " / X Are Businesses Absorbing the Tariffs or Passing Them On to Their Customers? - Liberty Street Economics Global Markets Investor on X: "🚨US services sector is getting hit: The ISM Services PMI index tumbled to 49.9 points, marking the first contraction since June 2024. New orders fell to 46.4, the second-lowest since the 2020 Crisis. Outside of 2020, this is the second-lowest level since the Financial Crisis. https://t.co/w9iIwAHMa4 " / X Microsoft Is Laying Off More Workers as AI Continues to Trim Workforces What will this mean in other fields, corporations, governments... Google bets big on TAE’s cost-effective nuclear fusion reactor ‘Elon Was Butthurt’: Axios Reports on Real Reason Musk Attacked Trump’s Bill Amazon announces $10 billion investment for AI in North Carolina PGM market set for a comeback? - MINING.COM You bet ! In Japan, anger over ‘unacceptable’ steel tariffs despite Nippon deal - The Washington Post Cargo Ship Vanished In Smoke With 3,000 Cars And EVs Still Trapped Below Deck | Carscoops Roman Sheremeta 🇺🇸🇺🇦 on X: "“The Kremlin — Snared by the Spider’s Web” Ukraine’s bold and unprecedented drone attack on Russia’s strategic bomber fleet has done far more than material damage. Its effects will be felt for years. 1/n https://t.co/yDbbn2V4BI " / X It is not merely a Ukrainian success; it is a warning to all those that believe distance or size can guarantee safety. (1) P a u l ◉ on X: "🚨BREAKING: Canada Just Hit Back—Hard Ontario Premier Doug Ford just dropped a $30 billion hammer on Trump’s economy. In direct response to Trump’s asinine decision to double U.S. tariffs on Canadian steel and aluminum, Ford announced Ontario will onshore all U.S. imports, https://t.co/V1ebzsc6W4 " / X Anton Gerashchenko on X: "The great battle for Europe is underway. The United States, China, and Russia are all interested in Europe. But they are not interested in a united, strong Europe. They want a decentralized, deindustrialized, and weakened Europe. That way, it becomes easier to wage economic wars https://t.co/m90CJgp7ep " / X The great battle for Europe is underway. The United States, China, and Russia are all interested in Europe. But they are not interested in a united, strong Europe. They want a decentralized, deindustrialized, and weakened Europe. That way, it becomes easier to wage economic wars with individual European countries. And for Russia, it becomes easier to seize territories and install pro-Russian governments.

Markets : META revives nuclear power (confirmation...for #URA ), China orders 100's of Airbus, JPN birth rate all time lows, Dutch govt falls, Trump 'TACO' again on steel (partly), what a mess, a big Thread on BTC below, Tax cuts for German corporates/FT >> lower vol, summer markets, messy daily headlines but going nowhere fast (rates), Eq markets higher (lower VIX etc), bad news dismissed, back to stretched valuations, USD not exactly rallying, UST's long-end near 5% no new drama, for now anyway, precious metals up, Trump talking about tariffs on copper too ( #PALL, #silver #XP !....)... They will get to it...eventually in some form... Section 899, titled “Enforcement of Remedies Against Unfair Foreign Taxes,” gives the White House the power to levy a new tax of up to 20% on foreigners with US investments'' ...long-term 'US premium' in equities, UST's and USD impacts US Treasury Secretary Bessent accuses China of holding back products that are essential to the US industrial supply chain >>> well, a trade tension/war is on if I'm not mistaken, should have perhaps thought about it before... The US has never defaulted on its debt — except the four times it did/Hill article, old but still worth reading.. The divergence between US treasury yields and the dollar index: A crisis of confidence U.S. growth forecast cut sharply by OECD as Trump tariffs sour global outlook KKR pulls out of Thames Water deal, on fear of political interference Goldman Sachs CEO says that AI can draft 95% of an IPO prospectus in minutes >> another source of big revenues gone for investment banks.. BlackRock Chairman and CEO Larry Fink writes in the FT that the old economic model is coming apart. So what comes next? see his latest below The US has never defaulted on its debt — except the four times it did If the United States government did default now, it would be the fifth time, not the first. There have been four explicit defaults on its debt before Trump tariffs live updates: Trump calls China's Xi "Extremely hard to make a deal with" Friedrich Merz plans €46bn corporate tax breaks to revive German economy Elon Musk calls Trump’s ‘big, beautiful’ tax bill a ‘disgusting abomination’ | Donald Trump | The Guardian Must trying to gain some sympathy from people again...#TSLA suffered too much.. too late, damage done? #DOGE Musk calls Trump Big Beautiful Bill disgusting abomination BlackRock on X: "BlackRock Chairman and CEO Larry Fink writes in the @FT that the old economic model is coming apart. So what comes next? Read his latest op-ed about the emerging second draft of globalization, built not just to generate prosperity, but to aim it towards the people and places left https://t.co/qJu20i2MMg " / X Otavio (Tavi) Costa on X: "The US dollar is on track for its worst performance in three decades, and I believe this move carries profound implications. This likely marks the beginning of a long-term downward trend for the dollar, with far-reaching implications across global markets in my view. It’s no https://t.co/L9coJvEuHM " / X Goldman Sachs CEO says that AI can draft 95% of an IPO prospectus in minutes | Fortune Meta’s going to revive an old nuclear power plant Japan births in 2024 fell below 700,000 for first time U.S. growth forecast cut further by OECD as Trump tariffs sour outlook The divergence between US treasury yields and the dollar index: A crisis of confidence - The Economic Times KKR pulls out of Thames Water deal - Water Magazine 2 Chinese nationals charged with smuggling 'potential agroterrorism' fungus into US: DOJ - ABC News Dutch government falls as Wilders far-right party exits coalition South Korea's opposition leader Lee Jae-myung wins presidential election Jacob King on X: "Bitcoin’s whole story is a staged illusion, scripted by insiders to convince you governments and institutions are “all in” — and that this market is booming on real demand. This is the LARGEST bubble in human history, set to go down as the largest financial scandal ever. Ask" / X

Markets : Bessent may have to choose (UST's or USD), IMHO you can't have it both ways, weaker U.S ISM manufacturing , WS fears foreign tax in budget bill , US pushes countries for best offers by Wednesday as tariff deadline looms, #Gold #XAG #XPT #PALL all nicely up, #SILJ #GDX beginning to look like a decent break UP in tall this , copper should follow, decent JGB auction, but Chinese data was softer overnight Powell said: "The end of the Bretton Woods era in the 1970s, fundamentally changed the conduct of monetary policy." The signals are all over the place. Why bring this up now? Treasury secretary Scott Bessent insists US will ‘never default’ on its debt >>> ....Not nominally.. if the debt is safe, the currency is unsafe #USD Canada Ditches U.S. Defense for $1.25 Trillion EU Pact China's rare earth restrictions: More collateral damage from US export controls. EU and U.S to meet on Wednesday on trade, Eu strongly regrest U.S decision to raise steel tariffs, EU prepared to impose countermeasures is talks fail - the stage is set.. Pantheon / Have bunds considered that Germany spending 5% on defence is €250B per year, at 2024 GDP. Assuming a 10Y implementation of the infrastructure fund, that's €300B a year, just on those two. That implies, holding other components equal, a 6x rise in annual net bund issuance BBG / A gloomy outlook for US assets. DoubleLine joined Pimco and TCW in shunning 30-year Treasuries, shifting to shorter maturities amid worries about US debt >>> finally coming through with what's been pretty obvious for a while #UST supply...it's the bonds or the currency, Bessent and Trump actually 'welcome' a weaker USD Malaysian PM Anwar delivered a quiet but firm rebuttal to US pressure "I just got back from China last week," Dimon said. "They're not scared, folks. This notion that they're going to come bow to America, I wouldn't count on that." There’s a total of $698 billion worth of homes for sale in the U.S., up 20.3% from a year ago and the highest dollar amount ever China's rare earth restrictions: More collateral damage from US export controls China's May factory activity unexpectedly shrinks as tariffs dent sentiment China says U.S. undermined Geneva trade deal after Trump accusations ISM Manufacturing PMI shows US. production weakening in May Wall Street fears foreign tax in budget bill may reduce allure of US assets BOJ's Ueda signals readiness to raise rates if growth re-accelerates | Reuters (1) Gold Telegraph ⚡ on X: "Federal Reserve Jerome Powell said: "The end of the Bretton Woods era in the 1970s, fundamentally changed the conduct of monetary policy." The signals are all over the place. Why bring this up now? 🤔 https://t.co/bly9BTvTb6 " / X Trump doesn't like TACO. USD breaking down? | Saxo Market Call Canada Ditches U.S. Defense for $1.25 Trillion EU Pact Copper price must double to meet future mining needs — study - MINING.COM Trump advisers say tariffs 'not going away' amid legal fight 'UK must do all it can to minimise negative Brexit effects', says Bank of England Governor German border police's expulsion of asylum seekers unlawful, court rules | Reuters Dutch far-right leader Wilders threatens to quit government coalition | Reuters 𝘊𝘰𝘳𝘳𝘪𝘯𝘦 on X: "At Shangri-La, 🇲🇾 Malaysian PM Anwar delivered a quiet but firm rebuttal to US pressure: “Our approach is one of active non-alignment… not to set one power against another, but to maximize our own strategic space.” Translation: ASEAN doesn’t buy Hegseth’s Cold War script. https://t.co/5JgsvOHpPv " / X Mount Etna erupts leaving tourists fleeing for their lives | The Standard Valterra Platinum: Shares rise on London debut after Anglo American demerger Barchart on X: "BREAKING 🚨: U.S. Housing Market Home Sellers are now sitting on $700 Billion worth of inventory, the largest amount ever recorded 👀 https://t.co/CSW9jrLjK0 " / X

Markets : UKR/RU drones attacks deep into Russia, Bessent unhappy with China (rare earth), DOGE brought nothing (probably a NET COST), BoJ warning on JGB (JPY), NVDA's earnings need some 'clarification' (must follow story!), chaos in France as their club wins the CL, go figure >>>> equity markets rallied about 1pct into month-end close, looks like giving that up on open this week, SPX500 trading just under 5900, big picture, valuations are high, too high given macro picture and geopolitics (lighten up on risk, hedge some exposure and wait for opportunities) Even if the Supreme Court rules against the Trump administration on tariffs, the US effective average tariff rate would still settle in the 15-18% range, by JP Morgan estimates.  Tariffs are a central pillar to Trump’s economic agenda and the administration will likely turn to other available options to impose tariffs Trump : "We're not looking to make sneakers and t shirts. We want to make military equipment.” - Trump Does anyone want to tell Donald that the U.S. produces more military equipment annually than the rest of the world combined? Bessent : China is "withholding some of the products that they agreed to release during our agreement." >>> basically...admitting that the US cant impose further tariffs to China without the U.S suffering economically... NVDA’s revenue from Sing reached a record high of $9 billion last quarter — that's 20% of total revenue , and doesn't include an additional $5.5 billion in sales to China and HK. This is a total of $15 bn, a 3rd of all revenue last Q, is tied to China... >>>> NVIDIA Warns It May Struggle to Compete in China’s AI Market if Restrictions Persist, Raising Risk of a Business Foreclosure Marco Rubio officially announced that anyone who criticizes Israel will NOT be granted a visa to enter the United States The Bank of Japan has boosted its provisions for JGB losses - braced for higher rates #USDJPY should head south again, together with geopolitics, equity should be weaker #DOGE Trump is now reportedly asking if DOGE is all just “bullshit” after it was revealed that it is on track to cost taxpayers more money than it supposedly saved. “Was it all bullshit?” Trump asked aides Musk’s interview went great: Reporter: What is your thought on the ban of foreign students, you were one of those kids, right? Musk: “I think we want to stick to talking about spaceships.” Reporter: I was told that any topic is good. Musk: “Well no.” Morgan Stanley sees the Dollar falling ~10% on slowing US growth and amid continued uncertainty over Dollar's safe-haven status >>> there will be an increasing amount of investment bank coming up with similar calls..The U.S. Dollar is currently 15% overvalued, according to Goldman Sachs Ukraine drones 'emerged from trucks' before strikes on bombers during major attack in Russia - BBC News Ukraine stages audacious attack on airfields deep in Russian territory The Bank of Japan has boosted its provisions for JGB losses - braced for higher rates — TradingView News (1) Spencer Hakimian on X: "“The deficit is already lower than last year and will continue to decline over the next four years.” - Scott Bessent Straight up lies. Shameless. https://t.co/YreaCXL6dO " / X Why Scott Bessent wants to make it easier for banks to own Treasurys (1) The Kobeissi Letter on X: "US Treasury Secretary Bessent just now: China is "withholding some of the products that they agreed to release during our agreement." He confirms these products are rare earth minerals and says "maybe it's a glitch in the system, maybe it's intentional." Is China violating the https://t.co/kyzf0Tk4s6 " / X Elon Musk on DOGE and why he doesn't want to "take responsibility for everything the administration's doing" - CBS News NVIDIA Warns It May Struggle to Compete in China's AI Market if Restrictions Persist, Raising Risk of a Business Foreclosure Allies cancel orders of F-35s, the fighter jets that will cost $2 trillion Nick Clegg says asking artists for use permission would ‘kill’ the AI industry | The Verge Already taken, big Ai firms too big now already, law is lightyears behind, businesses develop in months rather than decades in the 21st century, the law changes still based on 19th century style.. Melting Permafrost in Siberia is Threatening Russia’s Energy Industry — International Relations Review Perma not so perma anymore.. PSG win Champions League: Two dead and hundreds of arrests across France following final | Football News | Sky Sports Man attacks Colorado crowd with firebombs, 8 people injured Nationalist Nawrocki wins Polish presidential election – POLITICO Sources: Mediators pressing Hamas to withdraw their objections to Witkoff deal | Israel National News Fruit and veg from EU set to get cheaper as UK axes border checks in Brexit reset

Most of Donald Trump’s global tariffs were deemed illegal by the US Court of International Trade, that could throw the president’s global trade policy into disarray. The White House will appeal the ruling, which laid out a 10-day deadline for the levies to be stopped, it will now be followed by an appeal process (who knows with Trump who de facto owns the supreme court..) and President Trump's budget bill is about to meet the realities of the Senate, where the rules of reconciliation could help Democrats force changes to the bill >>> there are 3-4hours till Donald wakes up and will start to tweet....stay tuned Dario Amodei  — CEO of Anthropic, one of the world's most powerful creators of artificial intelligence — has a blunt, scary warning for the U.S. government and all of us: AI could wipe out half of all entry-level white-collar jobs — and spike unemployment to 10-20% in the next one to five years , Amodei told us in an interview from his San Francisco office Markets : NVDA beat (what else, although the stock price is near highs again, althought GROSS margins down from 71% to 61%..if you want some negative), '' There is no justification for this type of equity multiple given restrictive monetary policy, trade war and macro uncertainty'' (JPM), If Putin doesn’t watch out, Trump might be forced to go ALL CAPS on him sooner or later, yesterday Trump ordered U.S chip software suppliers to stop selling to China (doesn't make any economic or strategic sense really), Trump clamping down on foreign students too (its really about China) >>> UST30y 5+ again, equity not far off highs, seems a little too bullish but hey, USD rebounded too on FOMC minutes (on hold..) and tariffs ruling (as FX clauses in future trade deal less likely #JGB's are the 'captain' now in bond world (UST's 2-3years ago) : Japan’s verbal YCC (Yield Curve Control), IMHO, is not a signal of strength or stability that should reassure ' bond investors' in Japan and globally, this action is more of a signal of systemic strain BlackRock issues a rare warning about the quantum computing threat to Bitcoin in their latest iShares Bitcoin Trust filing >>> you cannot ''quantum'' Physical GOLD #XAUUSD Saylor says on chain proof-of-reserves a ‘bad idea’ due to security risks >>> reminder: he was found guilty of accounting fraud in 2001 Ramaphosa’s treatment at the White House cemented that the U.S. is writing itself out of the African continent’s future Lavrov: Ukraine-Russia direst talks will resume thanks to support from the US, Saudi Arabia, and Turkey. The first round after resumption took place on May 16 in Istanbul Walter Isaacson predicts inevitable merger of xAI and Tesla Germany to fund long-range weapons in Ukraine, says Merz There are many, but this could be one of the best headline yesterday : “I went to Saudi Arabia, Qatar, and UAE, and we brought back $5.1 trillion. So I made that money in about two hours.” - Trump Good news guys. Vague CapEx commitments now count as after tax free cash flow The best part of the news cycle this week is the introduction of TACO - that’s going to stick around and annoy him >>> “The open air grifting feels like it has now reached bubble status. The collective invulnerability is palpable with participants at all levels believing it is unstoppable. No one believes the crowd’s moral compass will swing back. Put simply, it feels like something big is about to happen.” Behind the Curtain: Top AI CEO foresees white-collar bloodbath US trade court blocks Trump's sweeping tariffs in blow to trade policies Trump tells US chip designers to stop selling to China, FT reports AND Arnaud Bertrand on X: "This is yet another move that doesn't make any sense whatsoever from an economic or strategic perspective. As per the FT article, the EDA firms that will now be banned from selling to China - Synopsys, Cadence Design Systems and Siemens EDA - have an 80% market share there and" / X FX Daily: Dollar gets a lift from tariff ruling and FOMC insight | articles | ING Think Germany to fund long-range weapons in Ukraine, says Merz White House plans — at last — to send some DOGE cuts to Hill - POLITICO Elon Musk says he's "disappointed" by Trump's "big, beautiful bill" The Global AI Talent Tracker 2.0 - MacroPolo RIP American AI industry. According to a recent study by the Paulson Institute, 38% of the top-tier AI talent working in the US are Chinese, more than Americans themselves. Nvidia posts Q1 earnings beat on strong AI chip demand despite China curbs EndGame Macro on X: "🇯🇵 Japan’s Verbal Yield Curve Control: A Signal of Systemic Strain, Not Stability — What Just Happened: Japan’s 30-year government bond yield has fallen back below 3% after peaking above it for the first time in over a decade. But this drop wasn’t driven by actual central bank https://t.co/niTjzQfbel " / X Cointelegraph on X: "⚡️ INSIGHT: BlackRock issues a rare warning about the quantum computing threat to Bitcoin in their latest iShares Bitcoin Trust filing. The world's largest asset manager warns quantum tech could 'undermine the viability' of Bitcoin's cryptographic systems. https://t.co/gv32UvrAzD " / X Saylor warns onchain proof-of-reserves poses security risks Trump administration moves to cut all remaining federal contracts with Harvard | Reuters Trump administration halts scheduling of new student visa appointments | Reuters How Trump Is Helping China, Iran in Africa Elon Musk disses Trump's 'big, beautiful bill' for growing national debt

Markets : as is, the Big beautiful bill isn't going to fly in Senate, too much spending, debt increase! and weak overnight 40y JGB auctions, yields back up , too much to say about Trump really..., Trump warns Putin 'he is playing with fire', sanctions coming this week ? worth lightening up on risk, we keep an eye on one of our sanction plays (#PALL), RBNZ cut 25bps, Harvard in the news again >>> Yields back up, if sustained, USD and Eq 'at risk' heading into June, month-end bond demand likely, rebalancing relative to equity selling probably (JPM and few others saying), overall SPX500 5900+ gets into rich valuations/weak risk-reward for longs with what's ahead in geopolitics, UKR-RU sanctions probability etc. NVDA after the bell the focus for many today.. #XAUUSD Bitcoin is not Quantum-proof — Google researcher says >>> GOLD is 100% quantum proof though !... Governor DeSantis Signs Legislation to Recognize Gold and Silver as Legal Tender in Florida New Zealand cuts rates 25 bps, flags slightly deeper easing cycle as global risks mount Trump could impose new Russian sanction in coming days, Trump reportedly also told Israel’s Netanyahu to avoid steps that undermine Iran nuclear talks; as OPEC+ is about to unleash a flood of new oil supply Germany would consider suspending EU funding to Slovakia if the country continues to diverge from the bloc’s shared direction, according to Merz. BIS urges governments to curb ‘relentless’ rise in debt Bill Ackman: "One thing I believe is that the private equity, venture capital and real estate portfolios are mismarked, up to 40%, nothing 'really' new, but crickey... /Thread HK Chief Exec John Lee invited students from Harvard to continue their studies in Hong Kong, as the United States moved to restrict the university's foreign student enrolment A staggering $7.24 Trillion is now sitting in Money Market Funds, a new all-time high >>> why are investors piling into money markets ? / Thread below, IMHO the 'distrust in long-term debt' 's major league stuff, but liquidity and optionality is key “I was disappointed to see the spending bill, frankly. It actually increases the deficit, not decreases it. It undermines all the work that DOGE has been doing”... Musk... FT- AI boom adds €150bn to value of four of Europe’s oldest industrial groups - electrical equipment makers including ABB and Legrand are surging thanks to a pivot to data centre infrastructure Spencer Hakimian on X: "Ron Johnson, Rand Paul, and now Rick Scott are all a NO on the Big Beautiful Bill. This bill isn’t going to pass without some major changes. Going to be a giant miss. Especially with debt ceiling approaching. https://t.co/bAVzrgvIbn " / X Japan 40-Year Bond Sale Demand Is Weakest Since July -  an outcome that risks fueling further volatility in global debt markets. The average bid-to-cover ratio, a measure of demand, for the bonds was 2.21 for the sale of the finance ministry’s ¥500 billion ($3.5 billion) issue maturing in March 2065. That was higher than 2.92 at the last auction in March BIS urges governments to curb 'relentless' rise in debt - SRN News too little too late ? New Zealand cuts rates 25 bps, flags slightly deeper easing cycle as global risks mount | Reuters Poorest 75 nations face ‘tidal wave’ of debt repayments to China in 2025, study warns | China | The Guardian >>>> and here is why - must read. . William Huo on X: "They called it a “tidal wave of debt.” What they meant was: China flipped the script, and Washington’s terrified. https://t.co/sHXDkHnNNK " / X Quantum Threat to Bitcoin? Google Flags Encryption Risk Governor DeSantis Signs Legislation to Recognize Gold and Silver as Legal Tender in Florida / X 'The most calls I've ever had' - Why Japanese bonds have suffered surging yields - ‘India isn’t catching up, it’s overtaking’: Strategist argues against India’s low per capita GDP logic against Japan - BusinessToday Boring_Business on X: "Bill Ackman: "One thing I believe is that the private equity, venture capital and real estate portfolios are mismarked" Ackman on Harvard and Yale endowment's exposure to private equity and VC. One of the best clips I have seen From his recent interview at University of Austin https://t.co/MZN2CpITDN " / X Full interview here Bill Ackman on the Decline of Harvard Universities in Asia Court Harvard Transfers Amid Trump Crackdown | TIME Harvard students march after Trump seeks to cut remaining contracts | Philstar.com China pledges support for overseas students after Trump's Harvard curb | Reuters EndGame Macro on X: "(1/2) The $7.24 Trillion Signal: What Record Money Market Flows Are Really Telling Us — Something historic is happening beneath the surface of the financial system. The U.S. money market funds now hold a staggering $7.24 trillion the highest level ever recorded. On the surface, https://t.co/3RAp6nRUmI " / X Citi adjusts short-term gold price forecast back to $3,500 - MINING.COM Explainer | Why central banks are playing a big role in pushing up gold prices | South China Morning Post

Markets : JGB yields in long-end drop 10bps (see below-'considering less long-bond issuing) , NVDA earnings after the bell on Wed and FOMC minutes on Thursday, OPEC+ meeting, TKY CPI and U.S PCE Friday, overall markets need to breathe, relatively well established ranges in rates, equity and FX, awaiting for Bessent & Trump to hear if they go full on with their big beautiful bill (in which case usd, bonds, eq likely to struggle on 'higher debt worries' , for NOW, #JPY #JGB news lifts USD in short-term (short-covering), and finally something that should get a lot of attention on both sides : Germany, France, UK, and US lift ALL range limits on Ukraine’s attacks inside Russia — German Chancellor Merz Hamas agrees to a Gaza ceasefire, sources say; US and Israel reject offer Germany’s Merz says US Tech perks could be target in Trade War - he said that the bloc would need to protect its interests and pointed to the US surplus in services trade with the EU. “At the moment, we strongly protect US tech companies — also on taxes,” Merz said Monday in Berlin at the WDR Europaforum conference. “That can be changed, but I don’t want to escalate this conflict. I want to solve it together.” Extraordinary speech on China by Indonesian president Prabowo/Thread Bessent : The Trump Administration is going big on digital assets >>> YES, of course they do, they need to engineer a $2trn or so of extra demand for treasuries via stable coins...which in many ways means that they are anything but stable... Top Japan Insurers See $60 Billion in Unrealized Bond Losses Fed quietly bought $43,6bn in UST's in alleged ‘Stealth QE’ operation after China abruptly dumps billions in bonds EU plans sweeping stress test of non-banks - Move likely to raise concerns among hedge funds and private credit groups of greater regulatory scrutiny Japan’s MOF Is Said to Sound Out Market on Bond Sale Amounts - Japanese super-long bond yields dropped after the finance ministry sent a questionnaire to market participants regarding appropriate issuance amounts for government bonds. The move aims to regain stability in the market after a sale of 20-year debt last week got the weakest demand in more than a decade. The 20-year yield dropped 13.5 basis points to 2.37%, and thirty- and 40-year rates also declined after reaching their highest levels since inception last week #JGB China’s airlines raise alarm as travellers ditch planes for bullet trains >> give folks great train service, and they switch off planes..who could have possible guessed that... EU might target US tech firms in trade war Ukraine-Russia War: Germany’s Friedrich Merz gives Ukraine green light to strike deep inside Russia Europe warned about enhanced missile range for Ukraine - RTHK Democratic Wins Media on X: "BREAKING: General Mark Milley delivered one of the finest speeches in American history. “We don't take an oath to a wannabe dictator. We take an oath to the Constitution, and we're willing to die to protect it.” This is a must watch. https://t.co/2QdzQzse5W " / X Japanese Life Insurers Tackle Massive Unrealized Bond Losses Amid Rising Interest Rates - News and Statistics - IndexBox Hamas agrees to a Gaza ceasefire, sources say; US and Israel reject offer Fed Quietly Buys $43,600,000,000 in US Treasuries in Alleged 'Stealth QE' Operation After China Abruptly Dumps Billions in Bonds - The Daily Hodl Tesla EU sales slump 52% in April: trade group | Fox 11 Tri Cities Fox 41 Yakima and BYD stocks plunge following deep price cuts as EV sales surpass Tesla in Europe China’s airlines raise alarm as travellers ditch planes for bullet trains | South China Morning Post Treasury Secretary Scott Bessent on X: "The Trump Administration is going big on digital assets. Why? Because the previous administration nearly destroyed the industry with its anti-innovation agenda and regulation-by-enforcement approach. No more. Digital asset companies deserve regulatory clarity—and that’s https://t.co/kqYxwWggEm " / X Arnaud Bertrand on X: "There is no overstating how extraordinary this speech on China by Indonesian president Prabowo is. Especially if you know Indonesia's history during the Cold War, and Prabowo's personal history as a US-trained military officer, one of Suharto's most feared generals and his https://t.co/kzedpVA48D " / X Ole S Hansen on X: "#Gold trades lower for a second day with technical selling along a descending trendline, and 0.618 fibo resistance at USD 3,355 weighing on prices. In addition, reduced haven demand is also at play after Trump softened his aggressive trade stance with the EU. https://t.co/pGQPtrsvdP " / X

Markets : classic Donald, markets moved lower on Friday, as Trump “suggested” general tariff of 50% on the EU and said he would like to see 25% tariffs on all IPhones not made in the US, and then agrees extending EU tariffs deadline to 9th July over the weekend...another fold...what a clown show, what a complete 'insider trading dream' for them... >>> Ron Johnson reportedly has enough votes to block Trump’s “big beautiful bill” including Mitch McConnell & Lindsey Graham. (apparently ), Eq rally again over weekend, will give another opportunity to resell/re-hedge 5900-50+ area SPX500 , CHF, JPY, Gold might correct a little softer again, but precious metal trend remains higher, XPT on its way up finally!.., BTC also making new highs, Trump also tweeted "something has happened" to Putin and that "he has gone absolutely crazy.", what happened to him stopping the war in 2-3days... In 45 days, Japan's 30Y Government Bond Yield rose a MASSIVE +100 basis points, to a record 3.20% >>> UJSDP Y “China holds the cards… and America’s bluff is failing.” -Nobel laureate Joseph Stiglitz / Thread - interview below, well worth a listen imho Trump says he had good chat wit Iran over weekend..and Iran sharply criticizes Trump.. Brent crude has fallen from the January high of $82/bbl to $64 , and GS expects oil prices to continue to trend lower throughout 2025 and 2026.  Goldman Sachs notes that contrary to the hopes of some, lower oil price’s impact on US inflation will be very small Russia launches war's largest air attack on Ukraine, kills at least 12 people Market Quick Take - 26 May 2025 | Saxo 5 Issues That Might Decide Fate Of Trump’s ‘Big, Beautiful’ Bill In Senate – IJR 𝘊𝘰𝘳𝘳𝘪𝘯𝘦 on X: "“China holds the cards… and America’s bluff is failing.” -Nobel laureate Joseph Stiglitz When China began catching up, America hadn’t lost yet- but its long-stagnant system had already begun to crack. What America fears is not losing to China. It fears discovering that it’s no https://t.co/aJ6uqGJEe1 " / X Ole S Hansen on X: "#Uranium- and nuclear-themed ETFs spiked sharply Friday after news emerged that the domestic nuclear industry is set to be overhauled with executive orders from Trump. The Global X Uranium ETF ($URA), a key benchmark for uranium stocks, jumped 11%, driven by gains in top uranium https://t.co/KiyKRYobXQ " / X Iran sharply criticises US President Donald Trump's alleged bid to rename Persian Gulf - Daily Excelsior Trump delays 50% tariffs on EU to July 9 Trump: "I'm not happy with what Putin is doing. He's killing a lot of people and I don't know what the hell happened to Putin. I've known him a long time ... we're in the middle of talking and he's shooting rockets into Kyiv and other cities. I don't like it at all. I'm surprised." London-New York in 45 mins: New hypersonic jet could fly 7x speed of sound Big if true! The Kobeissi Letter on X: "What is happening in Japan? In 45 days, Japan's 30Y Government Bond Yield rose a MASSIVE +100 basis points, to a record 3.20%. Over $500 BILLION worth of "safe" 40Y Japanese Government Bonds have lost 20%+ in 6 weeks. Is Japan's bond market imploding? (a thread) https://t.co/iGdki2Dwz0 " / X BYD beats Tesla in European EV sales despite higher tariffs: Report Nvidia to launch cheaper Blackwell AI chip for China Reuters says Michael Pettis on X: "1/7 FT: "China is accelerating efforts to build a series of giant banks and brokerages as it pushes to consolidate the financial sector and make it better able to weather economic shocks." https://t.co/X8jvixazhn via @ft" / X Iran Holds Out for Nuclear Enrichment - WSJ Russia launches war's largest air attack on Ukraine, kills at least 12 people | Reuters Tens of thousands turn out for rival rallies for Polish presidency candidates Jerome Powell says not to take universities for granted | Fortune