A U.S. official said a memorandum of understanding has been signed, but either party may withdraw until a binding agreement is reached.

China’s onshore ETF market AUM is approaching CNY5 tln, and improving fund-manager capabilities and investor sophistication create favorable conditions for launching active ETFs. Globally, ETFs total USD19.9 tln as of end‑March; passive ETFs USD17.8 tln (89.4%), active ETFs USD2.1 tln (10.6%). Active ETFs have posted a 10‑year CAGR of 44% versus 19% for total ETFs. Institutional adoption is rising as more professional managers include active ETFs in asset allocations.

Sweden central bank policy rate as of June 17: 1.75% (expected 1.75%; prior 1.75%).