The number of Fed rate cuts continue to be revised downwards:
* June 18 (red) now 8% (92% no move) * July 30 (green) now 35% (65% no move) No cut is priced until September 17. And even that cut (blue) is disappearing. It was more than 100% ~10 days ago and is now 66% (34% no move) and continuing to fall. Source: Jim Bianco @biancoresearch
BREAKING: Treasury Secretary Scott Bessent says he will be meeting with Chinese officials in Switzerland to begin trade talks with China.
Bessent went on Fox News to break the news. "So, we will meet on Saturday and Sunday..."
The White House is considering an executive action to speed up the development of nuclear reactors…
$OKLO is soaring on the news, went from flat on the day to up 6% 👀 ➡️ Oklo Inc. is a Santa Clara, California-based advanced nuclear technology company founded in 2013. The company focuses on designing and deploying compact fast reactors, specifically the Aurora powerhouse, to provide clean, reliable, and affordable energy. These reactors, ranging from 15 to 75 MWe, use high-assay low-enriched hashtag#uranium (HALEU) and recycled nuclear waste as fuel, offering inherent safety features like self-stabilizing and self-controlling mechanisms. Oklo aims to sell power directly to customers, including data centers, industrial sites, and defense facilities, through power purchase agreements. Source: Stocktwitt, Grok
US power demand
@zerohedge
Ships sailing from China to US hits 2 week high.
But Long Beach was supposed to be a ghost port... @zerohedge
U.S. rejects Japan's exemption from "reciprocal" tariffs - Kyodo
▶️ The United States has refused Japan's full exemption from not only a 10 percent "reciprocal" tariff but a country-specific tariff in recent negotiations, sources close to the matter said Monday. ▶️ U.S. officials including Treasury Secretary Scott Bessent told Japan's top negotiator Ryosei Akazawa in their meeting in Washington last week that the administration of President Donald Trump intends to put only a cut in the 14 percent country-specific tariff, suspended through early July, on the negotiating table, the sources said. ▶️ The U.S. side stressed in the second round of the negotiations that it will only consider extending the 90-day suspension or lowering the 14 percent tariff depending on the progress of their talks, according to the sources.
India has proposed zero-for-zero tariffs on U.S. auto parts and steel, according to Bloomberg
Amid continued trade talks with Washington, India has reportedly proposed to charge zero tariffs on steel, auto components and pharmaceuticals from the US on a reciprocal basis. According to a report by Bloomberg quoting people familiar with the development, the reciprocal tariffs have been offered up to a certain quantity of imports from the US. Beyond the set limit, imported industrial goods would attract the regular level of duties, the sources said. The offer was reportedly made by trade officials from the Indian side who visited Washington in late April to expedite negotiations on a bilateral trade deal. A deal is expected to be closed by autumn this year, the report quoted the sources as saying.
UAE PICKS AMERICA OVER CHINA IN THE GLOBAL AI ARMS RACE Abu Dhabi’s tech giant G42 is going all-in on the U.S.—not Beijing—as it races to become one of the world’s most powerful players in
With a $1.4 trillion investment plan aimed squarely at the U.S., the UAE is signaling a strategic pivot: America is its partner of choice for AI dominance. G42, backed by the oil-rich emirate and chaired by national security adviser Sheikh Tahnoon bin Zayed, has quietly launched “G42 USA” in Delaware and is expanding rapidly into American cloud services, chipmaking, and AI infrastructure. The company just pumped $335 million into U.S. chipmaker Cerebras, after cutting ties with Chinese suppliers like Huawei to meet U.S. national security demands. It already counts Microsoft, Silver Lake, and Ray Dalio’s firm among its investors. People familiar with the matter added that some of G42’s subsidiaries — which include AI applications, cloud computing and data centre companies — are expected to make announcements about US business plans in the coming months.
