From Marc Chandler at Bannockburn Global Froex, June 15:
The prospect of a deal between the US and Iran has bolstered risk-taking appetites today, even though the details are the agreement are not clear and Washington and Tehran seem to have different interpretations of what has been agreed. Brent and WTI are near two-month lows. Stocks and bonds have rallied. The dollar has been sold and the PBOC set the dollar’s fix at a new three-year low.
At the end of last week, the US government ordered Anthropic to remove complete access to its new Fable 5 and Mythos new AI. The implications continue to be discussed. The US also added several large Chinese companies, including Alibaba, Baidu, and BYD to list of companies with alleged military ties. The most immediate implications are to restrict Pentagon procurement, but Beijing argues it is in violation of the recent agreement between Trump and Xi. Lastly, we note that Swiss voters rejected the referendum to cap the country’s population at 10 mln 55% to 45%. Still, the referendum does not appear to resolve the immigration issue....
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