Japan June merchandise exports YoY 19.3% vs expected 18.6%; May figure revised to 16.8% from 17.0%.

Under guidance from MIIT’s Information and Communication Administration, the China Academy of Information and Communications Technology (CAICT) and core upstream-to-downstream industry partners have launched an NTN (non-terrestrial networks) satellite communications pioneer initiative. The program will deploy an integrated ground–space simulation, testing and pilot verification platform to tackle key NTN-based space–ground integration technologies, conduct end-to-end trials and validation, and combine three core capabilities—simulation, performance testing and reliability assessment—into a full lifecycle loop from digital simulation to hardware testing to in-orbit verification.

Jupiter Asset Management favors German five-year bunds. It sees Italy's 10-year government bonds, yielding around 4%, as attractive.