Stocks declined and the dollar gained in a risk-averse start to the week, as President Donald Trump dialed up trade tensions by saying the US will start issuing tariff letters to countries as soon as Monday. MSCI’s gauge for Asian stocks fell 0.7% while Treasuries gained, with the yield on the 10-year dipping about 2 basis points to 4.33%. A gauge of the dollar flipped its earlier losses to strengthen 0.1% while the Chinese yuan weakened after Trump said those aligning with the BRICS group of nations will face an additional 10% levy. The US will send out tariff letters and also announce trade deals, from 12 pm eastern time on Monday, he said. Trade tensions are back in view as investors monitor progress on various countries’ negotiations with the US ahead of the July 9 deadline. Stocks had rebounded recently to record highs since their plunge in April, when Trump introduced his sweeping levies and then announced a 90-day pause for countries to negotiate with the US. Administration officials had earlier signaled Aug. 1 as the date for higher levies to kick in and hinted some countries may get more time to negotiate deals. Treasury Secretary Scott Bessent indicated some countries may be offered a three-week extension to negotiate. Trump said he would put an additional 10% tariff on any country aligning themselves with “the Anti-American policies of BRICS,” injecting further uncertainty as the US continues to negotiate levies with trading partners. BRICS is a grouping of nations that includes Brazil, China, South Africa and India. Over the weekend, the group’s leaders agreed to continue talks on a cross-border payment system for trade and investment — a project they’ve been discussing for a decade, though progress has been slow. Separately, China said it will impose some reciprocal curbs on medical-device procurement for companies based in the European Union, adding tensions between the two major trading partners just as Beijing seeks to shore up ties with the US. Meanwhile, oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook. The group led by Saudi Arabia decided on Saturday to increase supply by 548,000 barrels a day, putting OPEC+ on track to unwind its most recent output cuts a year earlier than planned.
Nikkei -0.54% Hang Seng -0.27% CSI -0.34% Shanghai +0.01% Shenzen -0.01%
Eur$ 1.1769 CNH 7.1724 CNY 7.1717 JPY 144.82 GBP 1.3627 CHF 0.7948 RUB 78.7523 TRY 39.9414 WTI$ 66.03 -1.45% Gold 3,310 -0.81% BTC 106,320 +0.52% ETH 2,577 +1.19%
S&P -0.43% Nasdaq -0.50% EuroStoxx +0.10% FTSE -0.16% Dax +0.20% SMI +0.02%
Macro :
- Jane Street Probe in India to Expand Further, SEBI Official Says
- OPEC+ Considers Adding More than 411,000 Barrels on Saturday
- China Calls for Cooperation W/ France in Nuclear Power, Aviation
- Dealmakers hit pause on M&A as caution rules the boardroom - FT
- Berlin explores €4bn subsidies for German heavy industry to boost growth - FT
- Investors Come Around to Trump’s Uncertainty, Are the effects of geopolitical and tariff uncertainty on the economy still to come, or were they overestimated - WSJ
- German Holdings Round-Up: SAP, Siemens, Rheinmetall
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus Inks $20 Billion Malaysia Jet Deals on Anwar Trade Trip
- 1299 HK : Kuwait Wealth Fund Said to Be Seller of $3.4 Billion AIA Stake
- AMRZ SW : Why It’s Time to Buy This Rocks and Cement Spinoff Stock You’ve Probably Never Heard Of - Barrons
- BKT SM : Spain’s Bankinter CEO Mulls Acquisitions for European Expansion
- BA/ LN : British-made Typhoon production grinds to a halt raising fears about UK defence skills - FT
- CAP FP : Capgemini To Buy IT Firm WNS For $3.3 Billion to Boost AI
- CTT PL : CTT Approves Postal Service Price Convention for 2026-2028
- CTT PL : CTT Approves Postal Service Price Convention for 2026-2028
- CVC NA : PE Firms In Talks to Buy Controlling Stake In Nuvama Wealth: ET
- ESLT IT : Swiss Arms Chief Mulls Ending Drone Contract With Israel’s Elbit
- FABG SS : Fabege 2Q Property MGMT Income SEK372M Vs. SEK331M Y/y
- GET FP : Eurostar passengers evacuate on to tracks after hours-long breakdown
- HTRO SS : Hexatronic Prelim 2Q Ebita SEK169M
- 2317 TT : Hon Hai : Nvidia Partner Hon Hai Meets Sales Estimates on Strong AI Demand
- LR FP : Legrand Buys Amperio Project and Quitérios; No Terms
- LLOY LN : Forcing pensions into British assets like ‘capital controls’, says Lloyds boss
- NG/ LN : Union claims grid companies are incentivised not to maintain plants - FT
- Octopus Energy : Octopus Energy Eyes Demerger of Tech Arm Kraken, Sky Says & FT
- ORCL US : Oracle Gives U.S. Government Discount on Cloud and Software - WSJ
- ORA FP : Orange Chairman Says French Operators Holding Talks Over SFR
- OVS IM : OVS Not Ruling Out More Acquisitions, CEO Says to Repubblica
- SALM NO : Salmar Prelim 2Q Harvest Beats Estimates
- TSLA US : Musk launches US political party to fight ‘one-party system’ - FT
- TSLA US : Tesla May See Pressure From Musk’s Political Move: Street Wrap
- UMG NA : Independent labels appeal to EU over Universal’s $775mn Downtown deal - FT
- VOW GY : Volkswagen HR Chief Leaves, Ex-Renk CEO Wiegand Joins Board
- WIHL SS : Wihlborgs 2Q Rental Income Meets Estimates
- WNS US : Capgemini To Buy IT Firm WNS For $3.3 Billion to Boost AI
- WG/ LN : Wood Group accounts flagged by watchdog as far back as 2017 - FT
- 1810 HK : Xiaomi Founder’s Bold EV Bet Is Paying Off Where Apple’s Failed