LME inventories: copper down 1,250 tonnes, zinc up 2,275 tonnes, nickel down 54 tonnes, tin down 35 tonnes, aluminium unchanged, lead down 1,600 tonnes.

德国财政部长：经过一年，5000亿欧元特别预算中已有500亿欧元被分配。

Global central bankers meet in Jackson Hole this week to reassess inflation and the risk that renewed supply shocks could push borrowing costs higher. Thin Ice Macro economist Spiros said policymakers will likely err on the side of caution, treating inflation as the most feared risk because supply shocks can occur unexpectedly. SOCGEN US head of research Subhadra Rajappa said countries’ exposure to energy-price swings differs with import dependence, leaving Europe and Japan more sensitive to Middle East developments and oil. Goldman Sachs’ chief Europe economist said policy rates in the US and UK remain restrictive, giving the Fed and Bank of England more time to observe how energy-driven shocks evolve. Former Philadelphia Fed president Patrick Harker said the Iran war has shifted policymakers’ framing and choices, and that the global economy is now facing multiple simultaneous supply shocks.