The bid in U.S. Tsys, weakness in crude and move away from highs in e-minis have provided support fo...
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WSJ reports that according to people familiar with the matter, "Ahead of U.S.-China talks in London, President Trump authorized Treasury Secretary Scott Bessent's team to negotiate away recent restrictions on the sale of a wide variety of technology and other products to China," These comments would seem to chime with those from NEC Director Kevin Hassett, who said earlier that if a deal is reached "any export controls from the US will be eased" (see 'US-CHINA: Hassett-Chip Controls Could Be Relaxed If Rare Earth Deal Reached', 1510BST).
Prime Minister Mark Carney is announcing a major increase in military spending, committing to hitting NATO's (current) 2% of GDP spending on defence target in the 2025-26 fiscal year ending March 2026, bringing up the schedule significantly. Previous PM Justin Trudeau said that the 2% target would be hit by 2032, while on the campaign trail in May, Carney said he would advance this target to 2030 if elected. As the Globe and Mail reports, "Canadian experts have previously estimated Ottawa would require $15-billion to $20-billion in additional annual military spending to reach the 2-per-cent target."