Khan (manzoorkhan)
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🔴STOCK FUTURES FALL AS CHINA‑U.S. TRADE TENSIONS DETERIORATE Stock futures fell early Monday after China pushed back against U.S. accusations that it had violated the Geneva trade agreement, instead blaming Washington for failing to uphold the deal — a sign that negotiations between the world’s two largest economies are deteriorating. Tensions have reignited following a brief pause after U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng met in Geneva and agreed to a 90-day suspension of most tariffs. 🟢S&P 500 futures traded down 0.53%. 🟢Nasdaq-100 futures were 0.68% lower. 🟢Futures tied to the Dow Jones Industrial Average also declined 174 points, or 0.41%. ________________________________________
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EU MOVES TO RESTRICT CHINESE MEDICAL EQUIPMENT COMPANIES' ACCESS TO PUBLIC PROCUREMENT CONTRACTS The European Union is set to take a significant step toward restricting Chinese medical equipment manufacturers from receiving public procurement contracts in the bloc, according to informed sources. EU member states are expected to vote on the proposed measure on Monday. If supported by member states, it would be the first EU action under the International Procurement Mechanism (IPM). This law, passed in 2022, aims to promote reciprocity in access to public procurement markets. Imposing these restrictions would open a new front with China, as the EU seeks to balance its relationship with Beijing. This development comes after the EU launched an investigation into China's procurement of medical equipment in April. The investigation concluded that Beijing was treating foreign companies discriminatory, and consultations between the two sides failed to find alternative solutions to these practices
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TRUMP-BACKED NATIONALIST CLINCHES POLAND’S PRESIDENCY Nationalist Karol Nawrocki, backed by U.S. President Donald Trump, clinched the Polish presidency in a tight run-off race that spells trouble for the country’s current pro-EU government. A final count showed Nawrocki, who stood for the opposition Law and Justice (PiS) party that lost its majority in 2023, secured 50.89% of votes against the 49.11% of rival Warsaw Mayor Rafał Trzaskowski. Early results released before polls closed had put the liberal in the lead. Nawrocki will succeed fellow conservative Andrzej Duda — who himself won the leadership with a razor-thin advantage against Trzaskowski in 2020 — for a five-year term and can then stand for re-election once. The Polish election was closely watched in Europe, the United States and battling Eastern European neighbors Russia and Ukraine as it raises questions over the solidity of Warsaw’s future alignment with Brussels and Kyiv.
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🟠TREASURY YIELDS TICK HIGHER AS CHINA SAYS U.S. BREACHED TRADE DEAL U.S. Treasury yields moved higher as China struck back at the U.S. over alleged Geneva trade deal violations. At 5 a.m. ET 🟠The 10-year Treasury yield was up over 2 basis points to 4.445%. 🟠The 2-year yield was less than a basis point higher, trading at 3.922%. 🟠The 30-year Treasury yield was over 4 basis points higher at 4.981%. One basis point is equivalent to 0.01%. Yields and prices move in opposite directions. ________________________________________
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