Brazil's finance minister Du Ligan said the US Section 301 probe is more political than technical.

After May's 'floor' episode, China bill rates rebounded from late May. Strong bank demand in the final week pushed rates lower before demand was met and rates snapped back on May 28–29; bill yields briefly dipped below 0.50%, and the rediscount rate for bills maturing in November rose 11bp to 0.72%. On June 1 bills opened steady, with the November rediscount rate at 0.72%. Market participants say May's decline reflected weak real-economy financing demand, slower bank credit deployment and ample liquidity; June may see some seasonal credit improvement, but banks' bill demand persists and liquidity is likely to remain moderately loose after the month rollover.

Israel Defense Forces said on June 1 its troops conducted operations in south Lebanon north of the Litani River to clear Hezbollah fighters and dismantle Hezbollah infrastructure. The IDF said soldiers on May 31 encountered three Hezbollah militants preparing to launch UAVs; after the militants attempted to flee, the Israeli Air Force struck and killed them. A subsequent search uncovered a weapons cache containing ready-to-launch rockets and UAVs.