U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Thailand Inflation Remains Negative for 10th Straight Month in January 
The U.S. 10-year Treasuries jumped during European trading hours Monday, tracking fears of an ongoing trade war, spiked by the imposition of trade tariffs by President Donald Trump over China, EU and other trading partners as well. The additional tariffs followed levies announced by both nations last week. Beijing again reacted to Trump's statement, pledging to retaliate with counter measures.
The yield on the benchmark 10-year Treasuries slumped nearly 2-1/2 basis points to 2.87 percent, the super-long 30-year bond yields slumped 1-1/2 basis points to 3.02 percent and the yield on the short-term 2-year traded nearly 2 basis points lower at 2.53 percent by 11:25GMT.
In the US, the coming week brings a wide range of new economic data, kicking off with the May new home sales report today, followed tomorrow by the June Conference Board consumer survey. On Wednesday, the advance durable goods orders, trade and inventory reports for May will cast light on how the economy is travelling in Q2, while the pending home sales report for May will also be released.
The ‘final’ estimate of Q1 GDP growth is due on Thursday and likely to confirm growth close to the previous estimate of 2.2 percent q/q annualised. More interest will centre on Friday’s personal income and spending data for May. A strong lift in retail sales suggests that personal spending should post a decent advance.
The combination of a moderate core CPI reading and a soft healthcare PPI reading suggests that the core PCE deflator will rise only modestly, but base effects mean that annual inflation may still edge up from last month’s 1.8 percent y/y. The Chicago PMI and final University of Michigan survey results for June round out the week’s diary. In the bond market the US Treasury will auction 2-year notes on Tuesday, 2-year FRNs and 5-year notes on Wednesday and 7-year notes on Thursday.
Meanwhile, the S&P 500 Futures slipped 0.58 percent to 2,743.50 by 11:30GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -67.56 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
