Japan 2-year government bond yield rose 4.5 bps to 3.710%, the highest since May twenty one.

Energy: 1. Hungarian oil and gas company MOL has received formal permission from the US Treasury Department to continue negotiations to acquire Serbian oil company NIS. The permission is valid until July 31. 2. US EIA strategic petroleum reserves for the week ending June 26 were at their lowest level since the week ending May 20, 1983. 3. US House Speaker Johnson and other Republican leaders sent a letter to Trump urging him to proceed with the planned expiration of the Jones Act waiver in mid-August. 4. Sources indicate that OPEC+ is likely to raise its August oil production quota by 188,000 barrels per day at its meeting on Sunday. 5. Russia is importing gasoline from India to address shortages; at least 60,000 tons have already been shipped. 6. Connecting to Nvidia chips, a nuclear power company has achieved its first advanced reactor power generation in the US. 7. The British Automobile Association (RAC) reports that UK diesel prices have experienced their largest monthly drop on record. 8. UBS: Brent crude oil prices are expected to average $84 per barrel this year, a $9 per barrel reduction from the earlier forecast; the 2027 oil price forecast has been lowered from $85 per barrel to $75 per barrel. 9. US President Trump: As I promised, oil prices are falling rapidly, and gasoline prices are falling, but not fast enough. On July 3, Liberty Fuel Network will lower gasoline prices at 25 Liberty Fuel gas stations in the Greater Philadelphia area. This retailer is leading the way, and other businesses should follow suit. Gasoline prices will soon return to the record lows before the Iran action. Precious Metals and Mining: 1. According to SMM data, national silver ingot production in June was 1,562 tons, a 6.5% decrease month-on-month; cumulative production in the first half of the year was 9,773 tons, a 6.9% increase year-on-year. The decline in production was mainly due to copper smelter maintenance and some manufacturers' shutdowns, which are expected to recover somewhat in July and August. 2. Xiamen Tungsten: Its subsidiary, Luoyang Yulu, has essentially suspended production due to the suspension of tailings supply. 3. South32: After selling its aluminum business, the company plans to focus on its copper business. 4. Driven by Trump's tariffs, an aluminum smelter in Missouri, USA, will resume production by the end of the year after a two-year shutdown. 5. Sources: The London Metal Exchange is considering relaxing warehousing rules to attract metal inflows to Hong Kong. 6. BHP Billiton: Plans to invest $1.5 billion to restart its Cerro Colorado copper mine in Chile. 7. Emirates Global Aluminium: Its bauxite refinery in Altawira is expected to produce its first bauxite in early Q3. Agriculture: 1. The US Department of Agriculture will invest $500 million to accelerate the construction of fertilizer plants in the US. 2. Drought in France may damage sugar beet crops; no rain is expected in the short term to alleviate the disaster. 3. EU institutions: Global sea surface temperatures broke historical records for the same period in June. Iran Situation: 1. Thailand confirmed that most of its ships have safely left the Strait of Hormuz. 2. US President Trump: Negotiations with Iran are progressing well. 3. Iran's denuclearization is progressing smoothly. 4. Iranian sources say Iran insists on retaining control of the Strait of Hormuz. 5. US Vice President Vance: Commercial shipping has been free to navigate for the past three days.

Many A-share AI application stocks opened higher, with Yidian Tianxia rising over 8%, Tianyu Digital Technology rising over 6%, and Gravity Media and BlueFocus following suit.