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Record $110B Foreign Outflow from South Korean Stocks
Foreign investors have sold a record $110 billion in South Korean equities year-to-date, more than double the previous full-year record. June alone saw $31 billion in outflows, the largest monthly figure on record.
Fed Chair Warsh Testifies as June CPI Posts Steepest Monthly Drop Since April
Federal Reserve Chair Warsh faced mandatory congressional testimony on Tuesday, as data showed June's CPI fell 0.4% month-on-month — the sharpest decline since April.
Iran: Mine Clearance in Northern Hormuz Strait, Old Route Still Mined
Iran's Deputy Foreign Minister Gharibabadi announced that IRGC naval forces have conducted mine clearance in the northern Strait of Hormuz under an agreement, but the old route remains mined.
US Pushing Iraq-Syria Oil Pipeline to Bypass Strait of Hormuz
The US is advancing talks to build an oil pipeline from Iraq to Syria's coast, aiming to bypass the strategic Strait of Hormuz and reduce Iran's influence over global energy supplies.
Gold Surges as US Inflation Below Estimates, Dollar Weakens
Gold price surged about 1.50% on Tuesday after US consumer inflation data came in below estimates, easing pressure on the Federal Reserve to tighten further. XAU/USD trades at $4,050.
UOB Raises Singapore 2026 GDP Forecast to 4.8% on AI-Led Manufacturing
UOB economist Jester Koh lifted Singapore’s 2026 GDP growth forecast to 4.8% from 4.0%, citing strong first-half performance and AI-driven gains in manufacturing and electronics.
Fed's Goolsbee: June CPI 'Surprisingly Benign', Cautions on Single Month
Chicago Fed President Austan Goolsbee called the June CPI inflation data 'surprisingly benign' but warned against overreacting to one month's report.
Digital Economy Valued at Over $20 Trillion, US Business Formation Hits Record
The digital economy now accounts for ~18% of global GDP, with US business formation reaching a record 3.1 million applications in H1 2026, up 17% year-over-year.
ECB Selects Deutsche Bank, Revolut, Stripe, 33 Others for Digital Euro Pilot
The European Central Bank has chosen 35 companies including Deutsche Bank, Revolut, and Stripe to participate in a closed pilot of the digital euro. Testing is scheduled to begin in the second half of 2027 and last for 12 months.
IBM Stock Plunges 26% in Biggest Daily Drop Since 1968
IBM shares suffered a record 26% decline, erasing $70 billion in market capitalization in a single day—the largest daily drop for the stock since 1968.
US CPI Falls 0.4% in June, Largest Drop Since 2020
June CPI dropped 0.4% month-over-month, the steepest decline since April 2020, bringing the annual rate down to 3.5%. Core CPI was flat on the month and slowed to 2.6% year-over-year.
Dow Jones Flat Despite June CPI Undershooting Forecasts
The June Consumer Price Index fell more than expected, but the Dow Jones Industrial Average failed to rally, sitting out the disinflation move.
Trump: Strait of Hormuz Open to All Ships Except Iran; Full Blockade on Iranian Ports
President Trump announced that the Strait of Hormuz remains open to all shipping except vessels heading to or from Iran, and said the US will impose a full blockade on Iranian ports.
DeepSeek Prepares for IPO, Eyes $71B Valuation
DeepSeek is reportedly in talks with advisors for an IPO in China and is seeking a $71 billion valuation in a fresh funding round, while expanding into agentic AI.
Quantinuum and Rolls-Royce Launch Quantum Computing Project for Gas Turbine Design
Quantinuum and Rolls-Royce have started a multi-year collaboration to explore the use of quantum computers in gas turbine design, alongside Riverlane and the EPCC supercomputing center.
Trump Announces Full Blockade of Strait of Hormuz, New Gulf Trade Deals
President Trump declares a complete blockade of the strategic Strait of Hormuz and replaces a 20% US reimbursement fee with trade and investment agreements from Gulf countries.
European Natural Gas Prices Rise on Middle East Supply Risks – ING
European natural gas benchmarks are climbing as Middle East developments threaten LNG flows from the Persian Gulf, according to ING analysts Warren Patterson and Ewa Manthey.
China's June Trade Surplus Hits $125.62bn on AI Export Boom – SocGen
Societe Generale economists report China's June trade surplus reached $125.62 billion, fueled by 27% year-on-year export growth and 36% import growth, with AI-related high-tech shipments surging and muted FX impact.
Inflation Cools Broadly in June Across US and Europe
Inflation pressures eased in June on both sides of the Atlantic, with the moderation extending beyond lower energy prices to broader price categories.
TD Securities Warns of Short Squeeze Risk in Crude Oil
TD Securities analyst Bart Melek flags that money managers are heavily short crude due to misread market conditions, including excessive pessimism on China demand and misguided oil supply expectations, making positions vulnerable to a squeeze.
June US CPI Misses Expectations, Easing Fed Rate Hike Pressure
US headline CPI fell 0.4% month-over-month in June, with the annual rate dropping to 3.5% from 4.2%, reducing expectations for further Federal Reserve rate hikes.
US Treasury Posts $120 Billion Deficit in June, Deteriorating from Surplus
The US Treasury recorded a $120 billion deficit in June, a sharp reversal from a $27 billion surplus a year earlier, as tariff refunds surged following a Supreme Court ruling and outlays rose sharply.
US Indices Mixed at Open: Dow Falls, Nasdaq and S&P Edge Higher
The Dow Jones Industrial Average slipped 0.23% at the open, while the Nasdaq rose 0.49% and the S&P 500 gained 0.13%, reflecting a mixed start for US equities.
ING Economists See Upside Risks to Hungary's GDP Growth
ING economists Peter Virovacz and Frantisek Taborsky have turned more optimistic on Hungary's growth outlook, citing positive high-frequency data and stronger consumption. They maintain a 1.5% GDP growth forecast for 2026 but see clear upside risks.