At the night session open, China’s front-month futures were mostly lower: SC crude oil, short-fiber and LPG fell over 2%; low-sulfur fuel oil (LU), bottle-grade PET chips, plastics, fuel oil and styrene (EB) dropped over 1%. Shanghai nickel rose more than 1%.

Wall Street strategists say a popular US Treasury basis trade has dropped to its smallest scale in more than two years, reflecting fewer exploitable mispricings and reduced liquidity provision from hedge funds. The levered strategy, which arbitrages small futures–cash price gaps, has cooled as those spreads compressed, weakening an important source of Treasury demand. Morgan Stanley and Citigroup strategists say the trade is not disappearing but that momentum has waned as relative-value opportunities narrow; Citigroup’s head of US rates strategy Jason Williams said lower market dislocations and volatility have trimmed basis positions and could imply stronger-than-expected Treasury demand. Morgan Stanley estimates nominal notional of leveraged participation in Treasury basis trades fell from $1.26 trillion at the start of the year to about $900 billion.

日本首相高市早苗：在会议上与美国总统特朗普达成一致，进一步加强经济安全合作。