2-year government bond futures (TS) most-active contract down 0.02%; 5-year (TF) down 0.05%; 10-year (T) down 0.06%; 30-year (TL) down 0.15%.

Axios reports Trump spent the past 24 hours pressing Israel to avoid a full-scale restart of war after Iranian missile strikes. U.S. officials say Netanyahu is unlikely to ignore the strikes because failing to retaliate would signal Iranian ascendancy and deter U.S. and Israeli military action. The call ended without a clear decision; some U.S. participants said Trump bought time, while Netanyahu said he viewed Trump's opposition as not an explicit 'do-not-retaliate' instruction. U.S. and Israeli sources say strategic and political incentives are diverging: Netanyahu needs the conflict to continue to preserve his political position in Israel, while Trump needs it to end to preserve his political standing in the U.S.

Official data showed India's merchandise exports rose 15% YoY in April-May.