Baltic Dry Index rises 2.44% to 2,562.

BOC Governor Macklem warned the rise of hedge funds in sovereign debt markets raises concern that disruption in the repo market could trigger rapid forced liquidations.

Officials have begun reviewing the United States–Mexico–Canada Agreement (USMCA), triggering a countdown to the pact’s potential expiry. Signed by President Trump in his first term and in force for six years, the USMCA underpins nearly $2 trillion of annual trade between the three countries and sets detailed rules across autos, investment protection, intellectual property, digital services and goods from Mexican steel to Canadian dairy. Unlike NAFTA, the treaty contains a sunset clause requiring the parties to begin renewal talks this year; unless reauthorized it will lapse in 2036.