U.S. producer-price inflation unexpectedly eased in June, with core PPI (ex-food and energy) up 4.7% YoY and 0.2% MoM, the Bureau of Labor Statistics said on Wednesday; headline PPI rose 5.5% YoY. The data suggest effects from the Iran-related conflict remain, to some extent, contained. Separately, the New York Fed said its manufacturing business conditions index recovered in July as new orders and shipments increased, and the employment indicator reached its highest level since Dec 2022. Prices

Axios, citing U.S. and Israeli officials, reported President Trump told Prime Minister Netanyahu in a recent call that Israeli forces should begin redeploying from areas of Syria and urged a similar pullback from Lebanon, saying they don't want you there, you should redeploy. Netanyahu said Israel needs to retain a security buffer on its borders. The Trump administration has for months pushed for new security arrangements to enable a phased Israeli withdrawal from Syrian territory held since the Assad regime's fall at end-2024, but U.S. officials believe Netanyahu is unwilling to make those concessions. The U.S. has also been mediating implementation of the Israel-Lebanon ceasefire framework, pressing for partial Israeli withdrawals from southern Lebanon, though the withdrawal timetable remains disputed.

National Bureau of Statistics: Guangzhou June second-hand residential prices +0.4% MoM (prev +0.1%), -6.1% YoY (prev -7.0%).