US 7-year Treasury auction through June 25: share allocated at the stop-out yield 36.22%, prior 71.23%.

CHINA STATE PLANNER and the National Energy Administration issued the 15th Five-Year Plan for new energy system construction, calling for accelerated new grid development. The plan prioritizes outbound transmission from clean-energy bases, optimization of sending-end generation mix, and upgrades to channel capacity, utilization efficiency and clean-power share. It targets roughly 40 GW of enhanced interregional complementary capacity across Central–South, Central–East, North China–East China and Central–Northwest corridors and seeks to consolidate a national grid framework based on regional synchronous grids with asynchronous interconnections. Distribution networks should be transformed into efficient source–grid–load–storage allocation platforms; by 2030 the plan aims to support about 900 GW of distributed clean-energy connections. The plan also pushes faster smart-grid rollout, intelligent dispatch systems to improve renewable consumption, and development of smart microgrids and direct green-power connections where appropriate.

【美國核心PCE年率小幅走高 符合市場預期】美國5月核心PCE物價指數年率錄得3.4%，符合市場預期，爲2023年10月以來新高。