Market news
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Japan Portfolio Flows: Foreign Investors Sell Bonds, Buy Stocks
Japan's weekly portfolio flow data for the week of June 20 shows foreigners net sold ¥1,057.3B in Japanese bonds, a larger outflow than the prior week, while they net bought ¥479.4B in Japanese stocks, reversing prior selling. Japanese investors increased overseas stock purchases and reduced bond buying.
US Wealth Divide Widens: Top 20% Account for Record 58% of Personal Spending
The top 20% of US earners now make up 58% of all personal spending, the highest on record, while the bottom 80% account for just 42%, the lowest. The gap has grown sharply since the pandemic.
Foreign Holdings of US Stocks Hit Record $23.2 Trillion
Foreign investors piled into US equities in April, with holdings surging $2 trillion to a record $23.2 trillion, now owning 30.5% of the $76 trillion US stock market.
Trump Calls Hormuz Transit Fees 'Unacceptable', Repeats Call for Lower Rates
Trump stated that imposing fees on transit through the Strait of Hormuz is 'unacceptable,' reiterated his demand for lower interest rates, and noted progress in talks with Mark Rutte.
Trump Dismisses Senate Iran War Powers Vote as ‘Meaningless’, Says Talks ‘Doing Great’
President Trump called the Senate's Iran war powers vote 'meaningless' and expressed confidence in U.S.-Iran negotiations, saying they are 'doing great.'
Trump Requests $500M for Penn Station Renovation, $1B for GM Retiree Benefits
President Trump has asked Congress for $500 million to renovate New York's Penn Station and $1 billion to enhance retirement funds for workers who lost benefits during GM's insolvency.
Wall Street Stabilizes as Oil Falls, Micron Surges on AI Demand
U.S. stocks ended mixed but mostly flat, with the S&P 500 little changed near 7,350. Micron jumped in after-hours trading on a strong sales forecast, while crude oil tumbled below $74 on progress in U.S.-Iran peace talks.
Fed: All 32 Large US Banks Pass Stress Test, Absorb Over $700B in Hypothetical Losses
The Federal Reserve announced that all 32 large U.S. banks passed its latest stress test, showing they can withstand a severe recession with over $700 billion in hypothetical losses while remaining above minimum capital requirements. The Fed also reaffirmed plans to keep capital levels broadly stable as it revamps its stress-testing framework.
Intel-Backed AI Chip Startup Sambanova Seeks Up to $1B in Funding, Valuation Could Reach $10B
Sambanova, an AI chip startup backed by Intel, is reportedly looking to raise between $800 million and $1 billion in a funding round that could value the company at around $10 billion, five times its previous valuation. General Atlantic is in talks to lead the round, which may close next week.
US Treasury Yields Slide on Strait of Hormuz Reopening, Easing Inflation Fears
US Treasury yields fell across the curve after the Strait of Hormuz reopened, reducing inflationary pressures and driving oil prices lower.
Anthropic Accuses Alibaba of Unauthorized Access to AI Models
Anthropic has accused Alibaba of unauthorized access to its AI models, detailing allegations in letters to US senators and the White House amid rising US-China tensions over AI.
WTI Crude Falls to Lowest Since March as Hormuz Shipping Normalizes
West Texas Intermediate crude oil slid more than 3% to its lowest level since March as stranded cargoes in the Strait of Hormuz gradually return to the market after a US-led interim peace agreement.
Gold and WTI Crude Slide Through Key Support Levels
Commodities are under pressure as gold and WTI oil break below important technical levels, according to Chris Beauchamp, Chief Market Analyst at IG.
IDF and Lebanese Army Clash Over Withdrawal Scope, Axios Reports
Representatives of the Israeli Defense Forces and the Lebanese Army presented contradictory and rigid positions regarding the extent and starting areas of the Israeli withdrawal, according to an Axios reporter.
Silver Hits New Yearly Low on Fed Rate Hike Fears, PCE Caution
Silver (XAG/USD) extended its correction to a fresh yearly low near $58.75, dropping 4.62% on the day as expectations of further Federal Reserve rate hikes and caution ahead of PCE data weighed on the precious metal.
VIX Call-Put Ratio Hits Highest Since July 2025 as Investors Seek Downside Protection
Open interest in VIX call options relative to puts has climbed to ~3.1, the highest since July 2025 and the second-highest since February 2025. Meanwhile, the spread between VIX and S&P 500 20-day realized volatility has narrowed to near zero, making volatility protection historically cheap.
ABN AMRO Sees Market-Friendly Burnham Path After Starmer Exit
ABN AMRO economists assess the market implications of UK Prime Minister Starmer's resignation, with Andy Burnham seen as likely successor. They describe the path as market-friendly.
WTI Crude Drops Below $70, Approaching Pre-War Levels Amid Easing Gulf Supply Concerns
West Texas Intermediate crude oil extended its sharp decline, trading around $69.70, down 4.40% on the day and hitting its lowest level since March as fears over Gulf supply disruptions subsided.
US New Home Sales Miss Forecast in May, Drop to 580,000
May new home sales in the US fell to 580,000 units, missing the 640,000 forecast and declining from April's 622,000, signaling cooling housing demand.
Moody's: Iran Conflict Costs US Families $100 Billion
Moody's estimates the US-Iran conflict has cost American households $100 billion through higher government spending and energy expenses, with ripple effects on inflation and economic strain.
US Stock Indices Open Mixed: S&P 500 and Nasdaq Edge Higher, Dow Dips
At market open, the S&P 500 rose 0.09% to 7,372.40, the Nasdaq gained 0.04% to 25,597.90, while the Dow Jones fell 0.06% to 51,636.15.
WTI under bearish pressure as CTA liquidation nears end: TD
TD Securities analysts flag persistent selling pressure on WTI crude despite signs that CTA liquidation is almost complete, while elevated flows through the Strait of Hormuz weigh on market sentiment.
US-Iran Talks Set 60-Day Window for Oil Price Direction
The next 60 days of US-Iran negotiations will determine oil price trajectory, with markets pricing out worst-case Middle East scenarios but remaining cautious.
CENTCOM Reaffirms Commitment to Defeating ISIS Remnants
U.S. Central Command stated that it and its partners remain dedicated to eliminating remaining ISIS elements to ensure their enduring defeat, while continuing to protect the U.S. homeland and allies.