JP Morgan strategists recommend closing 10s-30s US Treasury flattener ahead of US CPI and Fed chair Kevin Warsh's first congressional testimony to avoid event risk. They say geopolitical tensions and hawkish Fed comments have pushed short-end yields up about 6bps and flattened the curve about 3bps. Fed governor Waller warned that if upcoming CPI shows core inflation pressure remains strong, the Fed will need to consider tightening policy in the near term.

On the 14th, Iran’s Islamic Revolutionary Guard Corps (IRGC) public relations office said two foreign oil tankers near the Strait of Hormuz ignored repeated Iranian navigation warnings, entered relevant waters illegally and switched off their navigation systems, posing a serious threat to navigation safety. The IRGC navy, citing applicable laws and regulations, said it took necessary measures and lawfully dealt with the vessels; the two tankers were attacked and destroyed. Iran said security and openness of the Strait of Hormuz are vital to global energy supplies, that it will continue to lawfully safeguard normal passage and respond firmly to any illegal acts that threaten regional security. Relevant Iranian authorities have launched an investigation and will release further information in due course.

中國6月以美元計算進口年率 36%，預期24%，前值27.40%。