According to the AP, the United States is preparing to revoke up to 200,000 business and tourist visas.

CNBC reported US Treasury Secretary BESSENT may use the Treasury General Account (TGA) at the Federal Reserve to fund Treasury buybacks. Castle Securities called such intervention “financial repression,” arguing it could lower long-term yields, weaken the dollar and raise imported inflation by altering market pricing of the US fiscal outlook and inflation risks. Shah said suppressing long yields will not remove upward pressure on yields amid tight labor and large AI-related investment; the bond market, he wrote, signals fiscal or monetary tightening is needed, and lasting solutions require tougher fiscal choices and central banks willing to act preemptively on inflation, including rate hikes when necessary.

At the open, China's main futures contracts were mostly higher. Ethylene glycol (EG) and bitumen rose nearly 3%; short fiber (PSF), p-xylene (PX) and fuel oil gained about 2%; No.20 rubber, bottle-grade PET, propylene, Shanghai gold, platinum, PTA, BR rubber, coke and methanol were up more than 1%. On the downside, PVC and egg futures fell over 2%; apples, SC crude oil, rapeseed oil and Soybean No.2 dropped more than 1%; palm oil and pulp were down about 1%.