Lindsay Rosner, head of multi‑sector fixed income at Goldman Sachs Asset Management, on US nonfarm payrolls: recent data make us increasingly confident the Fed need not worry about the labor market. The Fed will focus on inflation, and what ultimately determines its next action is how long the Iran war continues.

CENTCOM says an Iranian attack on US vessels would violate the ceasefire agreement.

Russian Foreign Minister Lavrov said at the St. Petersburg International Economic Forum on June 4 that Moscow has updated its Gulf security concept and submitted it to the Gulf Cooperation Council (GCC) and Iran, and is awaiting responses. The proposal affirms a non‑aggression principle and calls for consultations to: sign an agreement to increase military transparency and constrain military actions and exercise preparations; and adopt a package of confidence‑building measures. Deputy Foreign Minister Ryabkov said on June 1 that Russia has prepared the concept and is ready, via diplomatic channels, to assist any subsequent U.S.‑Iran agreement.