- US equity-index futures and European bonds fell as investors worried about the twin threats of dwindling economic growth and stubborn inflation.
- Following the underlying indices' 11th decline in 13 weeks, contracts on the S&P 500 and the Nasdaq 100 both fell by 0.3%. As dip-buyers emerged, European stocks increased for the first time in four days. After news that the US may lower its tariffs on China, the dollar declined at the start of the US Independence Day holiday. As investors watched domestic political tensions, Italian bonds fell.
- Global stocks and bonds are seeing their worst selloff in at least three decades as investors become increasingly concerned about the possibility of a US- or possibly global-wide recession. The Federal Reserve has little room to slow down monetary tightening because of sticky inflation. Markets are faced with a trading difficulty not seen since the late 1970s as a result of this toxic combination.
- Biden may announce a decision to cut Chinese tariffs this week - WSJ.
- Kremlin, asked about Japanese proposal to cap Russian oil price at half its current price, says we need to wait and see.
- Deutsche Bank CEO: We would like to see the ECB raise interest rates more quickly than previously announced.
