Jerry Lin
The Latest
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China's Manufacturing PMI Contracts for Third Month as Export Woes, Deflation Persist
China's factory activity contracted for the third consecutive month in June, with the official manufacturing purchasing managers' index rising slightly to 49.7 from 49.5 in May, according to the National Bureau of Statistics. While the figure met analysts' expectations, it remained below the 50-point threshold separating expansion from contraction, signaling continued strain on the world's second-largest economy. 
China's factory activity contracted for the third consecutive month in June, with the official manufacturing purchasing managers' index rising slightly to 49.7 from 49.5 in May, according to the National Bureau of Statistics. While the figure met analysts' expectations, it remained below the 50-point threshold separating expansion from contraction, signaling continued strain on the world's second-largest economy. -
Fed Proposes $223 Billion Capital Cut for Big Banks Amid Internal Dissent
The Federal Reserve on Wednesday advanced a proposal to ease capital requirements for the nation's largest banks, marking a significant regulatory shift that has sparked division among policymakers and reignited concerns over systemic financial risk. The move would lower the enhanced supplementary leverage ratio (eSLR), a post-crisis safeguard meant to ensure banks hold adequate capital to absorb losses. 
The Federal Reserve on Wednesday advanced a proposal to ease capital requirements for the nation's largest banks, marking a significant regulatory shift that has sparked division among policymakers and reignited concerns over systemic financial risk. The move would lower the enhanced supplementary leverage ratio (eSLR), a post-crisis safeguard meant to ensure banks hold adequate capital to absorb losses. -
Oil Prices Rebound 2% as U.S. Demand Surges, Middle East Tensions Simmer
Oil prices climbed nearly 2% Wednesday, rebounding from a steep early-week decline as U.S. inventory data pointed to robust fuel demand and markets weighed the stability of a tenuous ceasefire between Israel and Iran. Brent crude futures rose $1.22, or 1.8%, to $68.36 a barrel, while U.S. West Texas Intermediate gained $1.25, or 1.9%, to $65.62. 
Oil prices climbed nearly 2% Wednesday, rebounding from a steep early-week decline as U.S. inventory data pointed to robust fuel demand and markets weighed the stability of a tenuous ceasefire between Israel and Iran. Brent crude futures rose $1.22, or 1.8%, to $68.36 a barrel, while U.S. West Texas Intermediate gained $1.25, or 1.9%, to $65.62. -
U.S. Consumer Confidence Slumps in June as Tariff Anxiety and Job Market Concerns Deepen
U.S. consumer confidence dropped sharply in June, reversing much of May's gains and renewing concerns about the resilience of the American economy amid ongoing trade tensions, job market uncertainty, and fears of a potential recession. The Conference Board reported Tuesday that its consumer confidence index fell 5.4 points to 93.0, down from 98.4 in May. 
U.S. consumer confidence dropped sharply in June, reversing much of May's gains and renewing concerns about the resilience of the American economy amid ongoing trade tensions, job market uncertainty, and fears of a potential recession. The Conference Board reported Tuesday that its consumer confidence index fell 5.4 points to 93.0, down from 98.4 in May. -
Oil Prices Plunge 8% After Iran Targets U.S. Base But Avoids Disrupting Oil Flow
Oil prices plunged 8% Monday after Iran retaliated against U.S. airstrikes with a missile attack on a U.S. base in Qatar that left global energy flows untouched. Markets interpreted the move as symbolic and restrained, easing fears of disruption to oil exports through the vital Strait of Hormuz and lifting U.S. stocks. 
Oil prices plunged 8% Monday after Iran retaliated against U.S. airstrikes with a missile attack on a U.S. base in Qatar that left global energy flows untouched. Markets interpreted the move as symbolic and restrained, easing fears of disruption to oil exports through the vital Strait of Hormuz and lifting U.S. stocks. -
Oil Prices Fall Sharply as Trump Delays Decision on Iran Strike
Oil prices fell more than 3% Friday as President Donald Trump opted to delay a decision on direct U.S. involvement in the escalating Israel-Iran conflict, citing a potential window for diplomatic talks over Iran's nuclear program. Oil prices fell more than 3% Friday as President Donald Trump opted to delay a decision on direct U.S. involvement in the escalating Israel-Iran conflict, citing a potential window for diplomatic talks over Iran's nuclear program. -
Iran Rejects U.S. Talks, Demands Israel Halt Strikes Before Ceasefire Discussions
Iran hardened its stance against the United States on Friday, rejecting multiple U.S. overtures for negotiations and insisting that any ceasefire discussions can only begin once Israel halts its military operations. The statements, issued separately by President Masoud Pezeshkian and Foreign Minister Abbas Araghchi, signal a sharp escalation in Tehran's diplomatic posture amid ongoing conflict. 
Iran hardened its stance against the United States on Friday, rejecting multiple U.S. overtures for negotiations and insisting that any ceasefire discussions can only begin once Israel halts its military operations. The statements, issued separately by President Masoud Pezeshkian and Foreign Minister Abbas Araghchi, signal a sharp escalation in Tehran's diplomatic posture amid ongoing conflict. -
Fed to Hold Rates as Inflation Jitters Mount Amid Trump Tariffs, Mideast Turmoil
The Federal Reserve is widely expected to hold interest rates steady on Wednesday, resisting pressure from President Donald Trump to cut borrowing costs, as escalating tensions in the Middle East and uncertainty over U.S. tariffs cloud the economic outlook. Policymakers continue to weigh competing signals from a slowing domestic economy and mounting inflation risks. The Federal Reserve is widely expected to hold interest rates steady on Wednesday, resisting pressure from President Donald Trump to cut borrowing costs, as escalating tensions in the Middle East and uncertainty over U.S. tariffs cloud the economic outlook. Policymakers continue to weigh competing signals from a slowing domestic economy and mounting inflation risks. -
Japan’s Exports to U.S. Plunge Nearly 25% Amid Trump Tariffs, Trade Deficit Hits ¥637.6 Billion
Japan posted a trade deficit of ¥637.6 billion ($4.4 billion) in May as exports slumped 1.7% year-over-year, weighed down by a dramatic 24.7% decline in automobile shipments to the United States following new tariffs imposed by President Donald Trump. The drop in exports marked the sharpest monthly contraction since September 2024, and came alongside a 7.7% fall in imports, driven by weakening domestic demand, Japan's Finance Ministry reported Wednesday. 
Japan posted a trade deficit of ¥637.6 billion ($4.4 billion) in May as exports slumped 1.7% year-over-year, weighed down by a dramatic 24.7% decline in automobile shipments to the United States following new tariffs imposed by President Donald Trump. The drop in exports marked the sharpest monthly contraction since September 2024, and came alongside a 7.7% fall in imports, driven by weakening domestic demand, Japan's Finance Ministry reported Wednesday. -
UK Inflation Holds at 3.4% in May, Keeping Bank of England on Course for Rate Hold
UK inflation eased slightly in May but remained stubbornly above the Bank of England's 2% target, bolstering expectations that policymakers will hold interest rates steady at 4.25% during Thursday's monetary policy meeting. The Office for National Statistics reported Wednesday that the consumer price index rose 3.4% in the 12 months to May, marginally down from April's upwardly revised figure. 
UK inflation eased slightly in May but remained stubbornly above the Bank of England's 2% target, bolstering expectations that policymakers will hold interest rates steady at 4.25% during Thursday's monetary policy meeting. The Office for National Statistics reported Wednesday that the consumer price index rose 3.4% in the 12 months to May, marginally down from April's upwardly revised figure.
