CFTC: For the week to July 7, speculators increased net short positions in CBOT U.S. Treasury futures by 52,811 contracts to 143,591. Speculators raised net shorts in CBOT 5‑year Treasury futures by 38,606 contracts to 1,359,116, and in CBOT ultra‑long Treasury futures by 21,150 contracts to 307,819.

Cui Dongshu, secretary-general of the CPCA, said China’s strong macro backdrop and consumption-promotion measures should keep auto demand resilient and that the national auto market will be broadly stable in 2026. Trucks and buses backed by high production-materials subsidies are recovering strongly; the commercial-vehicle segment is exhibiting equipment-renewal-driven structural growth after recently implemented high subsidies, which are also accelerating electrification in logistics and keeping commercial-vehicle sentiment elevated. Following an outsized policy push in 2025, 2026 has seen a marked policy pullback on entry-level consumption support, contributing to Jan–Jun passenger-car retail declines and a collapse in gasoline passenger-car sales; export gains helped keep June OEM sales relatively stable. June NEV sales were muted, auto exports continued to strengthen, manufacturers’ inventories edged down modestly, and there is no broad industry destocking.

Chas Freeman, a retired US diplomat and former assistant secretary of defense for international security affairs, said even with US production licenses Ukraine would be unable to assemble Patriot air-defense systems for several years. He said producing a complete Patriot system in the US takes about two years and that the US currently has no Patriots to supply Ukraine and will not have any for years. Freeman added, we expect the conflict will be over by then.