US-CHINA: FM Calls For More Comms & Consultation In Meeting w/US Business Group
(MNI) London - China's Ministry of Foreign Affairs has released a statement following Foreign Minister Wang Yi's meeting with a delegation from the board of directors of the US-China Business Council in Beijing. Wang stated that the "world is currently in a turbulent era, and China-US relations are both affected by the international turmoil and profoundly impacting the evolution of global trends."
- Says "China is willing to strengthen engagement with the US, avoid misjudgments, manage differences, explore cooperation, and implement the consensus reached by the two leaders to promote stable, healthy, and sustainable development of China-US relations".
- Wang calls for "more channels for communication and consultation", and for both countries to "view each other with an objective, rational, and pragmatic attitude","avoid provoking confrontation and conflict", and "refrain from unilateralism and hegemony".
- The foreign minister's comments come after two days of negotiations between the US and Chinese delegations concluded in Stockholm. It is expected that the 90-day truce on major tariff hikes will be extended beyond 12 August, although this needs final approval by US President Donald Trump. MNI's US Daily Brief has the latest on the talks and the potential next steps.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EQUITY TECHS: E-MINI S&P: (U5) Bulls Remain In The Driver’s Seat
- RES 4: 6300.00 Round number resistance
- RES 3: 6281.12 1.618 proj of the Apr 7 - 10 - 21 price swing
- RES 2: 6277.50 High Feb 19 and a bull trigger
- RES 1: 6255.00 Intraday high
- PRICE: 6239.00 @ 14:54 BST Jun 30
- SUP 1: 6069.53/5952.84 20- and 50-day EMA values
- SUP 2: 5811.50 Low May 23
- SUP 3: 5645.75 Low May 7
- SUP 4: 5500.00 Low Apr 30
The trend condition in S&P E-Minis is unchanged, it remains bullish and the contract has started this week on a firm note. Short-term resistance and a bull trigger at 6128.75, the Jun 11 high, has recently been breached. The clear break confirms a resumption of the uptrend that started Apr 7. The 6200.00 handle has been cleared too, this opens 6277.50, the Feb 21 high and bull trigger. Key support is at the 50-day EMA - at 5952.84.
EQUITIES: Longer Dated Estoxx Call Spread
SX5E (19/06/26) 6000/6500cs 1x2, bought for -9.4 (receive) in 5k (5k x 20k).
GILTS: Sell Off quickly Fades, Support In Futures Untouched
Gilt futures recover from a brief and shallow showing through Friday’s low.
- No overt drivers of the blip lower and subsequent recovery with headline flow remaining light.
- Initial support at the 20-day EMA (92.67) remains untested, with session lows of 92.83 registered before a bounce back above 93.00.
- Yields 1.5-2.5bp lower on the day, ~3bp off session highs.
- Both 2s10s and 5s30s a touch steeper on the day, set to register fresh June closing highs.
- Front end pricing continues to stick to tight ranges.
- SONIA futures flat to +3.5.
- BoE-dated OIS showing 54bp of cuts through year-end, with 80% odds of the next 25bp step coming in August and such a move fully discounted through September.
- Doves have not been able to force pricing through 55bp of cuts through December in recent sessions.
- UK-centric discussions continue to focus on fiscal fragility and PM Starmer’s political difficulties, little impact from today’s data.
- U.S. ISM manufacturing data headlines the macro docket during Tuesday’s session, while Tuesday’s UK calendar is dominated by final manufacturing PMI and comments from BoE Governor Bailey.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA Rate (bp) |
Aug-25 | 4.015 | -20.2 |
Sep-25 | 3.943 | -27.4 |
Nov-25 | 3.771 | -44.6 |
Dec-25 | 3.678 | -53.9 |
Feb-26 | 3.542 | -67.5 |
Mar-26 | 3.501 | -71.6 |
