German Chancellor Merz said he expects to submit to parliament, in the final sitting week before the summer recess, a draft Bundeswehr resolution to authorize a mission in the Strait of Hormuz.

HSBC UK rates strategist Daniela Russell said in a report that gilt yields are likely to fall further over the coming months as inflation concerns ease, with short-dated yields likely to decline faster than long-dated yields. HSBC expects the UK 10-year gilt yield to reach 4.50% by end-2026. Tradeweb data showed the UK 10-year yield fell 5.5bps to 4.750% after UK inflation came in below expectations; it earlier hit a two-month low of 4.734%.

美联储主席沃什：领导层变动是审视现行做法的适时机会。