MUSALEM (Federal Reserve): Fed policy appears at or below its long-run neutral level.

The Agricultural Development Bank of China (ADBC) has pre-arranged 150 billion yuan in financing ahead of the summer grain purchase season and will reallocate funds as needed to ensure summer-harvest liquidity. ADBC rolled out supporting measures including fee cuts and pricing concessions on market-based grain and edible-oil purchase-sale loans and differentiated credit policies to meet diverse borrower needs. It has deployed research teams to Henan, Hubei and other summer-grain provinces to assess local conditions and prices, prepare contingency plans to trigger or withhold minimum procurement prices, and stand ready to support local governments on emergency procurement in areas at risk of disaster-related selling disruptions.

Iranian outlet Fars News reports the missile's exact destination remains unclear.