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WTI Consolidates Below $72.00 as Traders Eye Geopolitical Developments
West Texas Intermediate crude oil steadied during the Asian session on Friday, pausing its recent decline as traders weighed mixed signals from the US and geopolitical tensions.
Japan Finance Minister: Won't Comment on Specific Bond Yields, Monetary Tools BOJ's Prerogative
Japan's Finance Minister Katayama stated he will not comment on specific bond yield levels, acknowledged that the ruling party is adjusting wording in the economic blueprint, and emphasized that specific monetary tools remain the BOJ's prerogative.
Japan Producer Prices Jump 7.1% YoY in June, Fastest Since Early 2023
Japan's producer prices rose 7.1% year-over-year in June, the fastest pace since early 2023, reinforcing expectations for further Bank of Japan rate hikes amid persistent cost-push inflation driven by energy and pass-through.
US Official Reaffirms Commitment to Iran Resolution Despite Trump's Claims
A US official has stated that the US remains committed to a memorandum of understanding with Iran, and technical discussions continue. This comes after President Trump claimed the framework deal was 'over' following Iranian strikes in the Strait of Hormuz.
Gold Recovers Above $4,100 as Traders Assess US-Iran Conflict
Gold price edges higher to around $4,120 in early Asian session as traders weigh Middle East tensions.
Volkswagen Unveils Restructuring Plan; Works Council Rejects Plant Closures
Volkswagen announced a major restructuring plan to address weaker global demand and rising competition, including streamlining its model range by up to 50% and reducing production capacity to 9 million vehicles. The works council opposed plant closures and will only support voluntary job cuts.
Israel Warns It Will Match Turkish Military Bases in Syria
Israeli Energy Minister Cohen stated that Israel must prevent Turkey from establishing a military presence in Syria, warning that if Turkey sets up bases, Israel will do the same.
US Oil Product Exports Hit Record 8.7M Bpd
Last week, total US oil product exports surged to a record 8.7 million barrels per day, led by propane, diesel, gasoline, and jet fuel. Most diesel exports go to South America, while ~14% head to Europe.
US-Iran Military Strikes Escalate, Threatening Middle East Ceasefire
The US and Iran exchanged a new round of military strikes, raising fears the fragile ceasefire could collapse. The US said it struck 90 targets inside Iran to weaken Tehran's ability to threaten shipping, while Iran retaliated with missile and drone attacks.
New PCE Inflation Methodology, Similar Results
The Bureau of Economic Analysis will update the PCE price index methodology on September 30, affecting data from 2021. Early indications suggest the changes will not significantly alter the overall inflation picture.
Silver Two-Speed Market: New York Refills, Shanghai Pays Up
Silver vaults in New York are refilling—a bearish signal—but the supply tightness has relocated to Shanghai, where buyers now pay an 11% premium over the global price.
Morgan Stanley Direct Lending Fund Issues $350M Senior Notes at 6.10%
Morgan Stanley Direct Lending Fund has issued $350 million in 6.10% senior notes due July 15, 2031, per an SEC filing. The notes are redeemable before June 15, 2031 at par plus a make-whole premium.
US Consumer Credit Falls $182M in May, First Drop Since November 2024
US consumer credit unexpectedly fell $182 million in May, the first monthly decline since November 2024, driven by a sharp drop in revolving credit (credit cards) while non-revolving credit rose modestly.
Nordea: Eurozone Energy Shock Keeps ECB Under Pressure
Nordea's Jan von Gerich warns that Eurozone inflation risks remain tilted to the upside due to a persistent energy shock linked to Middle East tensions, maintaining pressure on the ECB.
Fed Task Force Co-Led by External Experts Including Marc Andreessen and Former Central Bank Heads
The Federal Reserve is forming task forces co-led by external experts, including former central bank heads, leading economists, Marc Andreessen, and Xbox CEO Sarah Bond Sharma, with Fed staff support.
Volkswagen Board Unveils 12-Point Transformation Plan
Volkswagen announced that its board has presented a 12-point transformation plan designed to address changing global market conditions, intensifying competition, and to prioritize strategic investments and returns.
Volkswagen announces major restructuring, plans to cut model range and production capacity
Volkswagen unveiled a sweeping restructuring plan that includes reducing its model lineup by up to 50%, cutting product complexity by 75%, and capping annual global production at 9 million vehicles.
Volkswagen Works Council Ultimatum Rejects Plant Closures, Demands Details by July 10
Volkswagen's works council has issued an ultimatum to the CEO, rejecting plant closures and supporting only voluntary job cuts, while demanding details on possible layoffs and the proposed closure of five German plants by July 10.
Lagarde Rules Out French Election Bid, Open to Spain's Joint Borrowing Proposal
ECB President Christine Lagarde has ruled out running for the French presidency and expressed openness to discussing Spain's proposal for joint eurozone borrowing. She also confirmed that the digital euro will not replace physical cash.
Big Tech Record $182B Bond Issuance in 2026 Driven by AI Arms Race
Amazon, Alphabet, Nvidia, Meta, Oracle, and SpaceX have issued a combined $182 billion in investment-grade bonds so far in 2026, a 1,300% increase from the same period last year. The six firms now account for 15% of all US corporate bond issuance year-to-date.
WTI Crude Slips Below $72 as 200-Day SMA Rejection Keeps Bears in Charge
West Texas Intermediate crude oil fell on Thursday, erasing the previous day's gains as traders reassess supply risks from US-Iran tensions. The price hovered around $71.75, down 3.77% on the day, after a rejection at the 200-day simple moving average.
Gold Rebounds Above $4,100 as Falling Oil Weighs on US Dollar
Gold (XAU/USD) rose over 1.3% during the North American session on Thursday, climbing back above $4,100 as a retreat in oil prices pressured the US dollar amid easing Middle East tensions.
Elon Musk Retracts on Anthropic, Calls It Clear AI Leader
Elon Musk admitted he was wrong about Anthropic, describing it as the clear leader in AI with no competitor matching Mythos/Fable. He expects Mythos 2 soon and pledged not to harm Anthropic, citing Tesla's open-sourcing philosophy.
Odds of Inflation Above 4.5% in 2026 Fall to 19% Low
The probability of inflation exceeding 4.5% in 2026 has dropped to a new low of 19%, down from 85% just seven weeks ago, signaling cooling inflation expectations.