US and euro-area government bond yields accelerated after Trump said the US‑Iran ceasefire was over. Oil prices climbed further, adding upward pressure on yields. Tradeweb data show the 10-year US Treasury yield rose 4.8bps to 5.577% and the 10-year German bund yield rose 8bps to 3.064%.

标普500 E-Mini期货下跌0.7%，纳斯达克100期货下跌1.1%，道琼斯期货下跌0.9%。

The PBOC's MPC met on July 4 for its Q2 2026 (113th) session and recommended integrating incremental and stock policy measures while strengthening forward-looking guidance, flexibility and targeting. The committee said policy intensity, pace and timing should be calibrated to domestic and external economic and financial conditions and market developments. It called for maintaining ample liquidity so aggregate social financing and money-supply (M2) growth align with economic growth and price-level expectations. The MPC urged stronger policy-rate guidance, improved market-based rate formation and transmission, greater market-rate pricing discipline, and tighter execution and supervision of interest-rate policy.