Market news
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Emerging-Market Carry Trade Surges 18% YTD, Best Start Since 2005
An emerging-market carry strategy funded in euros has returned +18% year-to-date, marking its strongest start to a year since 2005, while a G10 carry basket gained 8% amid low currency volatility and surging risk appetite.
Trump Calls Off Planned Strikes on Iran as Hormuz Talks Resume
President Trump reportedly halted planned military strikes on Iran, hours after Oman-mediated negotiations to reopen the Strait of Hormuz restarted.
S&P 500 Significantly Outperforms Housing Over 50 Years
Since 1975, the S&P 500 delivered an average annual total return of 12.2%, more than double the 5.1% gain in US home prices.
China Gold Imports Hit 173 Tonnes in June, Highest Since March 2024
China imported 173 tonnes of gold in June, the largest monthly volume since March 2024, driven by dip buying and inventory rebuilding. Total first-half imports nearly doubled to 820 tonnes, the second-highest on record.
China’s savings rate tops global peers at 43% of GDP
China’s gross national savings rate stands at around 43% of GDP, more than double the US rate and well above Japan and the Eurozone, reflecting a deep pool of domestic capital.
Weekend Markets: Equities Mostly Flat, Oil Drops 3%
Global stock indices inched higher in weekend trading, while US crude oil slid nearly 3% and precious metals posted small gains.
Investment-Grade Bond Funds See Biggest Outflows Since 2020 Pandemic
US investment-grade corporate bond funds suffered $7.1 billion in weekly outflows, the most since the pandemic, as inflation fears and AI spending worries rattled markets.
Qatar Urges US and Iran to Implement Agreement
Qatar’s prime minister stressed the need for Washington and Tehran to comply with their memorandum of understanding.
Iran Official: Tehran Can ‘Easily Make London Unsafe’
An Iranian official warned that operatives in London are ready to act, enabling Tehran to destabilize the UK capital without using missiles.
Iran Warns Britain Its Backing of US Military Ops Makes It a Target
An Iranian official has warned that Britain’s support for U.S. military operations against Iran puts it at risk, according to a newspaper report.
Operation Targets Iran's IRGC Unit 700, Sanctioned by UK in 2024
A newspaper report details a Western operation focused on Unit 700, a logistics and smuggling arm of Iran’s Quds Force that Britain sanctioned last year.
Iran Smuggles Operatives into UK via Migrant Routes: Telegraph
Iran is reportedly exploiting established people-smuggling networks to infiltrate covert operatives into Britain, according to a Telegraph report citing officials and analysts.
Iran Lawmaker Says State TV Told to Broaden Political Views
A senior Iranian lawmaker said state television has been instructed to reflect a wider range of political opinions within the law and to avoid controversy, after criticism over its recent coverage.
Greek-operated air defenses intercept missiles targeting Saudi oil refineries
A Greek-manned air defense system in Saudi Arabia shot down two ballistic missiles fired from Yemen toward oil refineries in Yanbu on Saturday, according to Greek security sources.
Houthi Missiles Hit Saudi Aramco’s Jazan Refinery, First Such Attack in 4 Years
Yemen's Houthis attacked Saudi Aramco's Jazan oil refinery with ballistic missiles, causing visible smoke damage. The incident is the first strike on a Saudi refinery in four years, threatening supply stability.
South Africa Ambassador to US Seeks Revocation of 2025 Executive Order
South Africa's new ambassador to the United States says his top priority will be persuading President Trump to revoke a 2025 executive order that has underpinned Washington's hostile stance toward Pretoria.
US jobless claims hit 50-year low at 187,000
US initial jobless claims fell to an estimated 187,000 last week, the lowest level since September 1969.
Iran Rejects US Cease-Fire Proposal Amid 13th Night of Strikes
Iran turned down a US cease-fire offer delivered by Iraq's prime minister, while the US military carried out its 13th straight night of airstrikes.
Iran Accuses US of Undermining Goodwill in Gulf Shipping Route Row
Iranian Foreign Minister Abbas Araghchi stated that Tehran sees no goodwill from Washington, criticizing US promotion of an alternative shipping route in the Persian Gulf instead of the one designated by Iran.
Modi Thanks Youth as Protests Grow, Sidesteps Call to Sack Education Minister
Indian Prime Minister Narendra Modi praised the youth in a video message but gave no sign he would meet the central demand of widening student protests to dismiss the education minister.
UK PM Burnham's Early Policies Seen as Insufficient to Turn Labour's Fortunes
New UK Prime Minister Andy Burnham's launch of popular measures has not shifted the negative outlook for his Labour government, with more needed to reverse its political decline.
State Funding Dominates China’s Venture Capital, Accounting for 74% of Total
Public capital from state enterprises and government-managed funds made up nearly three-quarters of money raised by China’s venture capital and private equity firms.
Kuwait Inks $16B Pipeline Deal with Blackstone, Brookfield, KKR Amid Iran Attacks
Kuwait has struck a $16 billion infrastructure partnership with Blackstone, Brookfield, and KKR involving its oil-export pipelines, even as it comes under daily Iranian attacks.
Trump Administration Accused of Politically Targeting Clean Energy Grants
Court filings allege that the Trump administration canceled over $7.5 billion in federal clean energy grants for projects in states that voted for Kamala Harris, citing political identity rather than program performance. The Department of Energy disputes the interpretation, attributing political considerations to announcement timing only.