- Tuesday saw an increase in Asian stocks along with US share futures on rumours that the Trump administration may be planning to remove certain tariffs on Chinese consumer products. After reopening from a holiday, treasuries fell.
- Chinese tech stocks helped an Asian share index increase for a second day, while the S&P 500 and Nasdaq 100 contracts both increased by roughly 0.5% from Friday's closing. Due to the Independence Day holiday, US markets were closed.
- To combat soaring inflation, the US may announce the reduction of some China duties as early as this week. Authorities might also start looking into industry subsidies, which might result in increased responsibilities in vital fields like technology.
- US Treasury Secretary Yellen and China's Vice Premier Liu discussed supply chains and tariffs by video chat.
- The yen declined, commodity-linked currencies gained strength, and the dollar fluctuated. The 10-yr yield in Treasuries increased over 2.95%, extending a worldwide bond decline that started in Europe on Monday.
