US 4-week moving average of initial jobless claims for week ended June 20: 224,250; prior revised from 223,250 to 223,500.

U.S. Secretary of State Rubio said after talks with Gulf Cooperation Council ministers that Gulf states oppose a toll system in the Strait of Hormuz and that Oman explicitly rejects charging passage fees; establishing such a system is not feasible. He said it is unclear whether Qatari-held Iranian funds have been moved and the GCC meeting did not discuss a $300 billion reconstruction fund. Rubio added that if negotiations with Iran fail, Trump has multiple options. The U.S. is closely monitoring Israel-Lebanon incidents and seeks to help broker intent commitments toward a peaceful future for Lebanon.

PBOC today conducted 370.5 bln yuan of 7-day reverse repos; bids 370.5 bln yuan, allotment 370.5 bln yuan at a 1.40% rate, unchanged.