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ICYMI - Japan’s GPIF raised its holdings of US Treasuries to the highest level in a decade
- Government Pension Investment Fund
US set to sell 30-year bonds at the top of the hour
- It's a 29-year, 10-month reopening
The US dollar is holding up well today despite the drop in bond yields
- Treasury yields down 5-8 bps across the curve
U.S. Treasury auctions off $39 billion of 10 year notes at a high yield of 4.362%
- WI level at the time of the auction 4.365%
Nissan halts production of three models for Canada at two US plants due to tariffs
- Via a report from Nikkei
Trump says releasing tariff details for 7 or more countries Wednesday morning
- With more to follow in the afternoon
WallStreetJournal:Latest Trump threats could lift tariff rate closer to 20%, Deutsche Bank
- Wall Street Journal conveying analysis from Deutsche Bank
PBoC moves to expand Offshore Bond access for Chinese Investors
- Along the lines of earlier reports
China eyes plan to ramp up offshore bond purchases via Southbound Connect
- China is considering doubling an investment channel local investors use to buy bonds overseas
Commerce Secretary Howard Lutnick confirmed the new tariffs will take effect on August 1
- Said that Trump is currently finalising the specific rates and agreements.
Trump says could send out 12 or 15 letter on tariffs on Monday
- His Commerce Secretary Lutnick says tariffs go in effect on August 1
US' Bessent warns of tariff hike if no trade deals reached by August 1
- US Treasury Secretary Bessent cooking up a TACO
Reminder - not all US markets are closed for the holiday (Globex open limited hours)
- There will be some US futures trading on July 4
Blackrock says global investors reassessing U. strength, diversifying away from US assets
- Blackrock fixed income views - gradual diversification away from the US
US sells 7-year notes 4.022% vs 4.024% WI
- Results of the 7-year note sale
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