The Federal Reserve accepted bids totaling $2.719 billion from 13 counterparties in a fixed-rate reverse repurchase operation.

Argentina said on the 5th it will not submit the reciprocal trade and investment agreement signed with the United States on Feb. 5 to Congress for approval in the near term. Under Argentina’s constitution such treaties require congressional ratification. The government cited a February U.S. Supreme Court ruling that the International Emergency Economic Powers Act (IEEPA) does not authorize the president to impose large-scale tariffs, limiting the U.S. president’s ability to deliver tariff and market-access commitments by executive action and affecting market-access provisions in the pact. Consequently, the agreement will not enter the legislative agenda soon.

Australia's S&P/ASX 200 index closed down 23.30 points, or 0.26%, at 8,821.10 on July 6 (Monday).