OIL: China Teapots Purchase Murban Crude for June Delivery

• SX5E (20th June) 3500/2500ps 1x2, bought for 14.5 in 5k.

The last time the index traded at these ~3000.00 levels was back in October 2020.

(MNI) London - State-run Xinhua reports excerpts from a white paper from the State Council Information Office regarding US trade and economic relations. The report claims that "in recent years, the rise of US unilateralism and protectionism has seriously interfered with the normal economic and trade cooperation between China and the United States."

• In response to US tariffs, "China has no choice but to take strong countermeasures to resolutely defend its national interests. At the same time, China has always adhered to the basic position of resolving disputes through dialogue and consultation,"
• Xinhua: "These restrictive measures, which use tariffs as threats and coercion, are a mistake on top of a mistake, and once again expose the typical unilateralism and bullying nature of the United States. They not only violate the laws of the market economy, but also run counter to multilateralism,"
• Xinhua: "It is hoped that the United States and China will meet each other halfway, follow the direction indicated by the call between the two heads of state, and in the spirit of mutual respect, peaceful coexistence and win-win cooperation"
• Earlier, Foreign Ministry spox Lin Jian said on the emerging trade war that "China will take necessary measures to resolutely safeguard its lawful rights and interests. If the United States ignores the interests of the two countries and the international community and insists on fighting tariff wars and trade wars, China will surely fight till the end," 

• Some Steepening unwind after Bund and the longer end Buxl recovered from their earlier lows.
• Nonetheless, the German 2s/10s managed to print its Steepest level since December 2018 at 94.033, while the German 5s/30s has found some resistance just short of 97.395, the 2021 high, printed a 96.448 high.