Escalation: Iran, Russia, China To Hold Naval Drill In Flashpoint Strait Of Hormuz

Key Events This Week: CPI, PPI, Retail Sales, Warsh Testifies, China Data, And Earnings Galore As well as two epic World Cup semi-finals before that, and the start of the Open golf it’s a packed week ahead in markets, writes DB's Jim Reid. The headline events are tomorrow’s US CPI and Wednesday’s US PPI, alongside Fed Chair Warsh’s first Humphrey–Hawkins testimony before the House Financial Services Committee (tomorrow) and the Senate Banking Committee (Wednesday). Elsewhere, key data includes China’s Q2 GDP and their monthly data dump (Wednesday) and the UK’s May...

Taiwan Arms Deal Put On Ice Amid China Pressure, But Pentagon Cites Iran War Stockpile Concerns Did the Pentagon just back down amid pressure from China? It appears so. As we reported Thursday, China has been actively holding up a proposed visit by Elbridge Colby, the Pentagon's under-secretary of defense for policy. The move is a transparent effort to pressure President Trump over a looming $14 billion weapons package for Taiwan. Sources familiar with the talks told the Financial Times that Beijing signaled it "cannot approve a visit until Trump decides how he will proceed with the...

Micron Breaks Ground On $9 Billion Hiroshima Memory Chip Plant US memory giant Micron Technology on Saturday broke ground on the expansion of its factory in Japan's Hiroshima Prefecture, a ¥1.5 trillion ($9.3 billion) undertaking to produce advanced memory chips, Bloomberg reported.  The Boise, Idaho-based company is building the facility in Hiroshima Prefecture to make chips such as high-bandwidth memory crucial for AI processors like Nvidia’s, with shipments to start around the summer of 2028. The Ministry of Economy, Trade and Industry has allocated up to ¥500 billion to help cover...