Fed Governor Waller said the Fed will not deliberately keep interest rates low to help the U.S. government finance fiscal deficits.

Japan 5-year government bond yield rose 1bp to 1.930%; 30-year yield rose 2bp to 4.045%.

Hong Kong chief executive Lee Ka-chiu met PBOC's Pan Gongsheng on July 6 to discuss economic and financial issues; Financial Secretary Paul Chan and Secretary for Financial Services and the Treasury Christopher Hui attended. Lee said China’s 15th Five-Year Plan supports measures to strengthen Hong Kong’s role as an international financial centre, explicitly citing development of a global offshore RMB hub, international asset and wealth management centre, international risk management centre and a commodities trading ecosystem. The HKSAR is drafting its first five‑year plan to align with those national priorities and said it will push greater mainland-market connectivity, promote two-way capital flows and enhance Hong Kong’s competitiveness as an international financial centre.