Japan 5-year government bond yield fell 4.5bps to 2.00%.

Israel's Prime Minister Netanyahu said the war will end only when the Iranian regime collapses or is weakened to the point that it must abandon its nuclear program.

Reserve Bank of India Governor Sanjeev Malhotra said in a Monday interview that June measures to attract dollar inflows brought nearly $32 bln, mostly via the foreign-currency non-resident deposit scheme. He said about $7 bln, after tax changes, entered the Indian bond market as foreign securities investment. The RBI’s exchange-rate policy has not changed and it will intervene only against excessive volatility; he judged the rupee is not currently undervalued. Given current growth and inflation, the standing policy repo rate is appropriate, though rising food and fuel prices pose a risk of broader inflation pass-through.