New York Times reports Fed chair Kevin Warsh will release more details on a working group in the coming weeks.

Hong Kong-listed auto shares opened higher; NIO-SW (09866.HK) rose over 3%, XPeng Group (09868.HK) rose over 2%, with Geely Automobile (00175.HK) and Leapmotor (09863.HK) also climbing in early trade.

BofA Securities said a stronger-than-expected June US nonfarm payrolls print could tilt markets toward pricing three Fed rate hikes in 2026. After three months of solid gains, BofA projects June payrolls +110k, citing modest initial jobless claims and a strong ADP private-payrolls print, but flagged downside risk: May’s surge in leisure and hospitality may reflect the World Cup or Memorial Day, and if the latter the June print could ease.