Morgan Stanley expects capital expenditure by US mega-cap companies to reach $1.2 trillion by 2027.

China coke most-active contract fell 2.00% intraday to 1,874.50 yuan/ton.

Renewed U.S.–Iran tensions pushed oil higher and stoked speculation the Fed may need to raise rates to curb inf. The two‑year U.S. Treasury yield, most sensitive to rate moves, briefly rose 3bps to 4.24%, its highest since Feb 2025; the 10‑year rose 3bps to 4.59%. Swap markets now price a near‑certain chance of a September Fed hike versus about 66% a week ago. Market sensitivity to Iran developments has increased after weekend attacks and strikes on Russian refineries.