News

The U.S. Department of Education is pausing its plan to garnish people’s Social Security benefits if they’ve defaulted on their student loans.

The Bank of Japan is being urged by market participants to either maintain or ease the pace of its bond purchase tapering beyond fiscal 2026, according to a summary of meetings the Bank held in late May with bond market players. The requests reflect growing concern over recent volatility in super-long Japanese government bond (JGB) yields and waning investor demand.

While the BOJ is currently on track to halve monthly bond purchases to ¥3 trillion by March 2026, many attendees at the meeting called for the pace to be sustained or only modestly reduced thereafter. Some suggested cutting purchases further to ¥1–2 trillion per month, while others proposed keeping the current level or even suspending reductions for super-long bonds due to poor liquidity.

The divergence in views highlights the delicate balancing act facing the BOJ, which will review its tapering strategy at the June 16–17 policy meeting. Some participants called for greater flexibility in the BOJ’s approach, especially in the super-long segment of the curve. However, others cautioned against overreacting to structural market shifts, noting that weak demand may limit the central bank’s ability to manage volatility.

Despite ending negative interest rates and initiating a gradual taper, the BOJ still holds nearly half of all outstanding JGBs, leaving it far behind global peers in winding down crisis-era stimulus.

Info via Reuters

This article was written by Eamonn Sheridan at www.forexlive.com.

The Trump administration is urging trade partners to submit their best offers by Wednesday, aiming to wrap up negotiations ahead of a looming July 8 deadline tied to its suspended “Liberation Day” tariffs.

A draft letter from the U.S. Trade Representative, seen by Reuters, outlines requests for detailed proposals on tariff and quota levels for U.S. industrial and agricultural goods, as well as plans to eliminate non-tariff barriers.

Countries are also being asked to make commitments on digital trade, economic security, and other country-specific issues. The U.S. plans to quickly assess the responses and propose a “landing zone” that could include reciprocal tariff rates.

The urgency reflects the administration’s desire to close out complex, multi-country negotiations launched on April 9, when President Trump paused his sweeping tariffs for 90 days following turmoil in financial markets. Despite repeated White House claims that deals were close, only one has been outlined, just a limited framework with the UK.

The letter appears directed at nations with ongoing talks, including the EU, Japan, Vietnam, and India.

This article was written by Eamonn Sheridan at www.forexlive.com.

China Chamber of Commerce to the EU:

• Expresses disappointment and serious concerns about EU’s move to limit Chinese enterprises’ participation in healthcare sector
• Urges EU to reconsider the necessity and long-term implications of the approved ‘restrictive measures’ in EU procurement market for medical devices
• Will continue to maintain open communication with all relevant EU stakeholders

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The EU and China are moving closer together in part to counteract US measures against the two. Its not all smooth sailing though.

This article was written by Eamonn Sheridan at www.forexlive.com.

CNBC’s Jim Cramer reviewed Monday’s market action, chalking up the day’s performance to expectations about the White House’s next move.

Zelenskyy says:

• Russia and Ukraine agree to exchange 1000 military servicemen each
• It would be an additional 200 each.
• Ukraine and Russia to exchange lists for the POW exchange this week

Another step in the right direction.

On a more negative step, Zelenskyy’s Chief of Staff says Russia is doing everything possible to continue the war and urges new sanctions now.

This article was written by Greg Michalowski at www.forexlive.com.

• So far we’ve had excellent inflation reports; Surprisingly little direct impact of tariffs.
• Don’t know if that will remain true in the next one – two months.
• Thinks underneath all the Tariff dirt in the air, rates can come down over 12 – 18 months
• Thinks if we can get past this bumpy period, dual mandate looks pretty good.

This article was written by Greg Michalowski at www.forexlive.com.

Mohamed Sabry Soliman is due in court to face state charges in the attack protestors in Boulder, Colorado, calling for the release of Israeli hostages.

The Senate will consider President Trump’s spending overhaul in the coming weeks.

Roark’s investment follows a boom for chicken-focused restaurants and a rising tolerance for spice among younger consumers.