HSBC chief economist Paul Bloxham said Australian house prices pulled back in June but that is just the start. He cited major recent changes to taxation of investment properties and three Reserve Bank of Australia rate hikes as having rapidly weakene

1. Trump Says No Fighting Between the US and Iran Until Khamenei's Funeral —Trump stated that Iran is "begging for a deal," but indicated that both sides have decided to suspend negotiations for a week until the funeral of Iran's Supreme Leader Khamenei concludes. During the suspension, neither side will attack the other. "They're all there. One blow could wipe them all out, but we're not going to do that because then we'd have no one left to negotiate," Trump said. 2. Trump Says Netanyahu "Knows Who's in Charge" —According to Axios, Trump said on Saturday that Israeli Prime Minister Netanyahu has requested a meeting with him at the White House, possibly as early as next week after Trump concludes the NATO summit. "We get along very well. [Netanyahu] knows who's in charge," Trump said. Furthermore, a US official stated that several of Trump's core aides believe Netanyahu has misjudged on all issues. 3. "Trump Accounts" App Officially Launched—The US Treasury Department announced the official nationwide launch of "Trump Accounts" to commemorate the 250th anniversary of the founding of the United States. This is an innovative savings and investment platform designed to ensure that future generations of Americans have a stake in the American economy from day one. 4. Trump tweets: "Washington celebrations saw unprecedented crowds! Despite the heat, it wasn't as bad as expected. The crowds in Washington were still amazing! People's love for our country has never been stronger! Happy Independence Day. Our country is stronger than ever!!!" 5. Trump says Europe is becoming a third world country by accepting criminals. Trump: "Europe is learning a lesson—once it accepts criminals from the Third World, it becomes a Third World country itself. This transformation happens very quickly, often in the blink of an eye. I was elected at the perfect time!!!" 6. Proposed repeal of 702 federal regulations. The Trump administration is ramping up efforts to reduce the federal government's regulatory burden, announcing a regulatory reform plan to repeal 702 existing executive orders, setting a new record for the number of deregulation measures proposed in the White House's semi-annual regulatory agenda. This figure is roughly twice the size of any related reforms during Trump's first term. 7. Trump Emphasizes "American Exceptionalism" in Independence Day Speech —The United States celebrated its 250th anniversary of independence in Washington, D.C. Amid record-breaking heat and thunderstorms, Trump delivered a speech emphasizing "American exceptionalism." On Saturday evening, Trump stated, "For 250 years, the United States has been the hope, the promise, the light, and the glory of all nations. No other country in the world can compare to us." 8. Willing to Continue Mediating the Russia-Ukraine Conflict —Putin spoke with Trump, during which Putin briefed Trump on the realities of the battlefield. Trump reiterated his willingness to assist in ending the conflict as soon as possible and resolving the crisis peacefully. 9. Speaks with Zelensky—Zelensky stated that he spoke with President Trump on Independence Day. The two agreed to hold a face-to-face meeting during the NATO summit in Ankara to continue in-depth consultations on relevant issues. 10. Surprised by Iranians Crying for Khamenei—Trump: I was surprised by the Iranians crying at Khamenei's funeral because I thought people hated him. Maybe those were fake tears.

The China Earthquake Networks Center officially reported that a magnitude 3.3 earthquake occurred at 21:41 on July 5 in Gongliu County, Ili Prefecture, Xinjiang (43.58 degrees north latitude, 82.51 degrees east longitude), with a focal depth of 22 kilometers.