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JGB Futures Fall, Tracking Declines in U.S. Treasury Market

JGB Futures Fall, Tracking Declines in U.S. Treasury Market

Yahoo7 hours ago

JGB futures fell in the early Tokyo session, tracking Friday's price declines in the U.S. Treasury market.

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German Sovereign Bonds See Largest Japanese Selloff Since 2014
German Sovereign Bonds See Largest Japanese Selloff Since 2014

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  • Bloomberg

German Sovereign Bonds See Largest Japanese Selloff Since 2014

Japanese investors sold the largest amount of German sovereign bonds in a decade in April, the month after fiscal concerns spurred a selloff of the European nation's debt. Net sales totaled ¥1.48 trillion ($10.2 billion), the most since 2014, the latest balance-of-payments data from the Asian nation's Ministry of Finance showed on Monday. That was also the largest among the 12 sovereign bond markets tracked by the ministry, referring to debt securities issued by governments, their agencies and local authorities.

China Exports to US Fall Most Since 2020 Despite Trade Truce
China Exports to US Fall Most Since 2020 Despite Trade Truce

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time32 minutes ago

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China Exports to US Fall Most Since 2020 Despite Trade Truce

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here. Next Stop: Rancho Cucamonga! Where Public Transit Systems Are Bouncing Back Around the World ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Trump Said He Fired the National Portrait Gallery Director. She's Still There. US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Chinese exports rose less than expected last month as the worst drop in shipments to the US in more than five years counteracted strong demand from other markets. Exports rose almost 5% from a year ago to $316 billion in May, slower than economists' forecast of 6% growth. Despite record exports so far this year, the slump in US demand may have been one factor in convincing Beijing to sit down with US President Donald Trump's trade negotiators in Geneva and agree to a tariff truce. China's exports to the US fell 34.4%, according to Bloomberg News calculations, the most since February 2020, when the first wave of the pandemic shut down the Chinese economy. That was despite the agreement reached May 12 that gave temporary relief to imports from China that would have faced as much as 145% duties. That sharp decline offset a 11% rise in exports to other countries, showing the heft of the world's largest economy even as Beijing reduced its reliance on direct shipments to the market after Trump's first term. The benchmark CSI 300 Index for onshore stocks pared gains after the release and was up 0.2% at the lunch break. 'The trade outlook remains highly uncertain at this stage,' said Zhiwei Zhang, chief economist at Pinpoint Asset Management. He added that frontloading should help sustain export momentum in June but may fade in the coming months. Shipments to Vietnam jumped 22%, rising above $17 billion for the third straight month as Chinese companies continued to ship through third countries to try to avoid US tariffs. However that flow is pushing up the US trade deficit with Vietnam and other nations, further complicating negotiations with the US about their own tariffs. The data showed a recovery in shipments of rare earth elements, which have become one of the key points of US-China contention. Earlier this year China imposed an export license requirement on some of the elements and products such as magnets, radically slowing down shipments and forcing manufacturers globally to halt some production lines. Beijing's grip on these exports will be top of the agenda when trade negotiators meet in London for talks later on Monday. Weak Chinese Demand Imports fell 3.4% for a third straight month of declines, leaving a trade surplus of $103 billion, according to official data released Monday. The weakness of the Chinese economy was underscored earlier with the release of inflation data showing the country continued to be in deflation in May. Factory prices fell for a 32nd straight month, while consumer prices also declined from last year. What Bloomberg Economics Says... 'A slowdown in China's export growth and deeper decline in shipments to the US in May suggest the trade-war truce that brought temporary tariff relief hasn't made a major difference yet.' — David Qu, economist Read the full note here. Still, the overall growth in exports will continue to support the economy, with the record trade surplus of almost half a trillion dollars so far in 2025 a boost to companies facing weak demand at home. In the second half of the year, however, China could face a drag on growth should risks to global trade materialize. The US is threatening to raise tariffs on many countries from early July and on China from August. That could further slash demand for Chinese products destined directly for the US and also used as inputs into other nations' manufactured goods. Even if China and other nations are able to strike a deal with the Trump administration, demand from the US and elsewhere might still weaken as companies slow down their frantic purchasing aimed at beating the tariffs. (Updates with more details throughout.) The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again Is Elon Musk's Political Capital Spent? What Does Musk-Trump Split Mean for a 'Big, Beautiful Bill'? Cuts to US Aid Imperil the World's Largest HIV Treatment Program ©2025 Bloomberg L.P. Sign in to access your portfolio

Coffee wars heat up in China as Starbucks slashes prices
Coffee wars heat up in China as Starbucks slashes prices

Yahoo

time36 minutes ago

  • Yahoo

Coffee wars heat up in China as Starbucks slashes prices

Starbucks is set to lower the prices of some of its iced drinks in China by an average of 5 yuan ($0.70), the company announced on Monday. The US coffee chain said in a post on its Weixin social media account that it would offer more "accessible" prices on dozens of its drinks, including non-coffee drinks and the Frappuccino, from Tuesday. Some drinks will be priced as low as 23 yuan, the post said. The move comes as competition intensifies and consumers become more cautious about spending in China, Starbucks' second-largest market after the US. Domestic rivals such as Luckin Coffee and Cotti have priced their drinks as low as 9.9 or even 8.8 yuan, while internet companies and Alibaba Group have entered the food delivery market, adding to the competition. With offers and vouchers, Chinese coffee consumers can buy themselves a drink for as little as 2.9 yuan. A person close to Starbucks, said the company was not reducing prices in response to intense price competition, but looking to attract more customers in the afternoon. The individual requested anonymity as they were not in a role that allowed them to comment to the media. "Starbucks likely has a longer-term strategy, which is to focus on the demand for non-coffee items in the afternoon among consumers," the source said. Starbucks had said previously that it would not engage in a price war. However, it has also introduced smaller-sized drinks and issued coupons which have lowered prices for customers. The US giant has also been looking to revive its business in China via selling stakes in the business.

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