ECB credit survey: demand for housing loans fell sharply in Q2 and is expected to weaken further in Q3.

Rising interest rates, now near 30-year highs, are reshaping Japan's corporate bond market: higher funding costs for issuers have pushed investors back into fixed income, triggering fresh flows. Noriaki Nomura, head of debt capital markets at Mitsubishi UFJ, said that with Japan returning to an inflationary environment corporates are prioritizing capital expenditure to drive revenue growth rather than cutting costs. As of March, corporate bond issuance totaled a record JPY16.7 tln (about $1,030bn). Although brokers compile issuance differently, most expect fiscal-year issuance to be roughly flat with last year.

U.S. Treasury Secretary Bessent said he believes the Senate is close to reaching consensus on the Clarity Act.