Trump says U.S. fighter jets are flying over Iran.

On June 10 the Office of the State Council Work Safety Committee, the Ministry of Housing and Urban‑Rural Development, the Ministry of Transport and the State‑owned Assets Supervision and Administration Commission (SASAC) jointly summoned the chairmen of China Communications Construction Group and PowerChina and senior heads of certain second‑tier subsidiaries. Regulators told the firms to absorb lessons from recent disaster accidents, raise political priority on safety and put production safety first; implement the accident‑investigation "two closed‑loop" requirements; pursue problem‑oriented rectification and crack down on falsification and shoddy workmanship. They ordered stricter subcontracting controls to end 'contracting instead of management', deeper hidden‑hazard inspections and comprehensive upgrades to risk controls. With extreme weather expected during the flood season, the groups were instructed to increase vigilance and take stronger, more decisive measures to secure safety.

US Dollar: 1. Short-term interest rate futures indicate that the market has reduced its bets on a Fed rate hike. 2. The US May unadjusted CPI annual rate was 4.2%, in line with market expectations and a new high since April 2023; the US May unadjusted core CPI annual rate was 2.9%, in line with market expectations and a new high since September 2025. 3. Matsumoto, the nominee for director of the US Bureau of Labor Statistics, stated at his Senate confirmation hearing that he will focus on researching alternative data sources to supplement or replace traditional survey data. He believes that President Trump will not ask him to revise the data. Some of the problems leading to the continued significant downward revision of employment data may be related to statistical models. Other: 1. Bank of Thailand: The Thai baht is weak but remains stable. 2. Russian President Putin: We have reason to expect a reduction in the benchmark interest rate. 3. Iraqi government spokesperson: Iraq will not print money to solve its fiscal problems. 4. The Bank of Canada kept interest rates unchanged as expected, stating that future rate cuts or hikes are possible. 5. S&P: Upgraded Argentina's long-term rating to "B-" with a stable outlook due to improved financing access. 6. South African Reserve Bank Governor: The exchange rate unexpectedly remained stable. South Africa's terms of trade remain quite favorable. 7. South Korean Deputy Finance Minister: Asked exporters to assist in improving the supply and demand situation in the foreign exchange market and to help mitigate volatility. 8. Japanese Chief Cabinet Secretary Minoru Kihara: Bank of Japan Governor Kazuo Ueda's temporary hospitalization is unlikely to affect policy implementation and government cooperation. 9. Bank of Japan Governor Kazuo Ueda will miss next week's interest rate decision due to hospitalization; the policy meeting and press conference will be chaired by the Deputy Governor. 10. German Institute for Economic Research: Projects German economic growth of 0.8% in 2027, with a potential contraction in the second and third quarters. Lowered its 2026 German economic growth forecast from 1.0% to 0.5%.