US-LISTED CRYPTO STOCKS RISE AS BITCOIN HITS OVER TWO MONTH HIGH RIOT PLATFORMS UP 4.2%, HUT 8 MINING UP 2%, MARA HOLDINGS UP 1.8% PROSHARES BITCOIN STRATEGY ETF UP 2.8%, ISHARES BITCOIN TRUST UP 2.8% COINBASE GLOBAL UP 4.6%, STRATEGY JUMPS 13%, BIT DIGITAL RISES 5.3%

Federal Reserve Governor Christopher Waller said he is cautious about near-term rate cuts, citing an energy shock from the Iran conflict and risks of persistent inflation. He outlined two scenarios: if the Strait of Hormuz reopens and trade normalizes, the Fed could look through energy price spikes and consider cuts later this year as inflation trends toward 2% and the labor market softens. However, he warned markets may be underpricing a prolonged conflict, which could keep energy costs high and feed into broader prices, limiting policy flexibility. In that case, Waller said rates may need to remain at current levels. He added that sharply lower immigration reduces the need for job growth to absorb workers, shaping the policy outlook.

欧洲债券上涨，意大利10年期国债收益率下降14个基点至3.67%。