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Defying debt warnings, Republicans push forward on Trump tax agenda
Trump's party rejects forecast that bill will add $2.4 trillion to national debtElon Musk wades into debate on side of deficit hawks, sparking feud with TrumpRepublicans argue tax cuts will boost growth, despite deficit concernsBy David Morgan WASHINGTON, June 9 (Reuters) - U.S. President Don...Reuters
Mon, Jun 9
California fuel imports hit 4-year high amid refinery outages
Outages at Chevron, PBF, Valero refineries caused crunch State's reliance on fuel imports may grow amid planned refinery closuresImports mainly from Asia, the Bahamas increaseOpening of unusual trade routes could dampen extreme price spikesBy Shariq Khan and Nicole Jao NEW YORK, June 9 (Reute...Reuters
Mon, Jun 9
China: Lower energy prices and weak demand kept up deflationary pressure in May – UOB Group
China’s Consumer Price Index (CPI) deflation continued into the fourth straight month in May. Headline CPI fell by -0.1% y/y (Bloomberg est: -0.2%; Apr: -0.1%) due to declining domestic food prices and weak energy prices.Fxstreet
Mon, Jun 9
China pledges stronger support for workers' income, childbirth
BEIJING, June 9 (Reuters) - China will provide social insurance subsidies to eligible college graduates and individuals with employment difficulties, and raise minimum wage standards, according to new government guidelines released by state-run Xinhua on Monday. The government will also support and ...Reuters
Mon, Jun 9
Taiwan May exports hit record on AI demand and ahead of US tariffs
Exports +38.6% y/y to record high vs +25.0% forecast in Reuters pollExports to U.S. +87.4% y/y to all-time high (prior month +29.5%)Exports to China +16.6% y/y (prior month +22.3%)Taiwan sees uncertainty in geopolitics, Trump tariff policyJune exports seen up 15-25% y/yBy Faith Hung and Emily ChanTA...Reuters
Mon, Jun 9
WRAPUP 5-China's May exports slow, deflation deepens as tariffs bite
China's May export growth slows as tariffs take tollExports to US drop the most since early 2020Factory-gate deflation worst in almost two yearsChina, US set for further trade talks on MondayBy Yukun Zhang, Qiaoyi Li, Ellen Zhang and Ryan Woo BEIJING, June 9 (Reuters) - China's export gro...Reuters
Mon, Jun 9
Citigroup drops July rate cut bets for US, trims forecast to 75 bps
June 9 (Reuters) - Citigroup has pushed back its U.S. rate cut forecast to September from July and now expects three cuts this year instead of four, after a stronger-than-expected May jobs report in an otherwise cooling labor market.The Wall Street brokerage anticipates 75 basis points (bps) of cuts...Reuters
Mon, Jun 9
CORRECTED-WRAPUP 3-China's May exports slow, deflation deepens as tariffs bite
China's May export growth slows as tariffs take tollExports to U.S. drop the most since early 2020Factory-gate deflation worst in almost two yearsChina, U.S. set for further trade talks on MondayBy Yukun Zhang, Qiaoyi Li, Ellen Zhang and Ryan Woo BEIJING, June 9 (Reuters) - China's export...Reuters
Mon, Jun 9
JGB yields track US peers higher after resilient labour data
By Kevin BucklandTOKYO, June 9 (Reuters) - Japanese government bond yields rose on Monday, buoyed by an advance for U.S. Treasury yields after resilient labour market data on Friday saw traders pare back bets for a near-term Federal Reserve interest rate cut.The 10-year JGB yield JP10YTN=JBTC rose 1...Reuters
Mon, Jun 9
Japan’s Ishiba: Economy is shifting to a phase where interest rates rise as a trend
Japanese Prime Minister Shigeru Ishiba said on Monday that Japan must be aware that rising interest rates would push up the government’s debt-financing costs and affect its spending plans, per Reuters.Fxstreet
Mon, Jun 9
China's exports to Russia fall at quicker pace in May
BEIJING, June 9 (Reuters) - China's yuan-denominated exports to Russia shrank at a faster pace in May than April, but the decline in imports slowed, Chinese customs data showed on Monday.Outbound shipments to Russia fell 9.6% last month from a year earlier, following a 1.6% decline in April.Impo...Reuters
Mon, Jun 9
China’s May CPI Flat at -0.1%, PPI Deflation Accelerates as Auto Price Wars Intensify Factory Pressures
TradingKey - Weighed down by domestic manufacturers’ price wars, uncertainty from the U.S.-China tariff conflict, and weak domestic consumption, China’s May Consumer Price Index (CPI) and Producer Price Index (PPI) both continued to decline, with the PPI now in deflation for a 32nd consecutive month
TradingKey
Mon, Jun 9
Japan's Q1 GDP Confirmed to Have Contracted, Focus Turns to Japan-U.S. Talks for Prospects of BOJ Rate Hikes
TradingKey - Benefiting from improved consumption, the revised contraction for Japan's Q1 GDP in fiscal 2025 was less severe than initially estimated. Nevertheless, Japan's economy still shrank, adding uncertainty to the Bank of Japan's (BOJ) prospects for rate hikes. Ongoing trade negotiations...
TradingKey
Mon, Jun 9
China's May exports miss expectations, imports widen declines
BEIJING, June 9 (Reuters) - China's exports expanded 4.8% year-on-year in value terms in May, and imports dropped 3.4%, customs data showed on Monday, as trade tensions remain high between Beijing and Washington.Economists polled by Reuters had forecast a 5.0% expansion in exports and a 0.9% dro...Reuters
Mon, Jun 9
China's factory-gate deflation worst in 22 months as economic headwinds mount
China May PPI -3.3% y/y, worst in 22 monthsCore inflation +0.6% y/y, but analyst warn of fragility Deflationary pressures likely to last for a while longer, economist says BEIJING, June 9 (Reuters) - China's producer deflation deepened to its worst level in almost two years in May while consu...Reuters
Mon, Jun 9
