European Central Bank Vice President Boris Vujcic says the recent interest rate increase was justified because inflation is expected to remain above the 2% target until 2027. ECB Chief Economist Philip Lane also warned that inflation might stay above the 2% target "for quite some time," driven by wage momentum and indirect effects of high oil prices. In addition, ECB Governing Council member Jose Luis Escrivá says rising oil prices are starting to affect other sectors, including transportation and food.

US Treasury prices increased amid a stock sell-off, with the two-year note auction attracting strong demand with the highest yield since January 2025. Falling oil prices and concerns about US Federal Reserve interest rate increases influenced market sentiment, and the two-year yield dropped 3 basis points to 4.2%.

The transition to longer trading hours is accelerating, increasing complexity across 23- and 24-hour markets. Learn how modern trading infrastructure can support efficiency and adaptability in the era of continuous trading hours.

Venezuela is reportedly preparing to disclose a $240 billion debt pile as interim leader Delcy Rodriguez pushes for a restructuring that would be the largest sovereign debt workout on record. The plan aims to restore market access after Maduro's removal, but creditors are likely to face steep writedowns as the country's debt-to-GDP ratio exceeds 200%, sources say.

The EU's decision to give indebted governments limited budget leeway for energy-saving measures has so far avoided a negative reaction from bond markets and ratings analysts. The move has sparked debate over fiscal discipline, but investors largely view it as a pragmatic response to the Iran war energy shock rather than a breakdown of Europe's revamped budget rules.

Reserve Bank of India Governor Sanjay Malhotra says it is "premature" to discuss interest-rate increases amid ongoing geopolitical uncertainty, despite a drop in global crude prices following a truce between the US and Iran. Malhotra says the central bank remains data-dependent and is closely monitoring monsoon and crude prices.

China's central bank set the yuan's daily midpoint weaker against the dollar for a third straight session, signaling caution after the currency recently reached a three-year high. The move comes despite renewed international criticism that the yuan is undervalued, with ECB officials joining calls for closer scrutiny of China's exchange-rate policy.

The European Securities and Markets Authority has called on unauthorized crypto-asset service providers to wind down operations by July 1, as the transitional period for the Markets in Crypto-Assets regulation ends. ESMA has instructed unauthorized providers to stop onboarding new clients, limit services to asset transfers and communicate clearly with clients about the wind-down process.

The European Parliament's Economic and Monetary Affairs Committee has approved a plan to create online and offline versions of the digital euro, paving the way for final negotiations with governments and the European Commission. The European Central Bank aims to roll out the digital euro by 2029 and will test a beta version in a 12-month pilot phase.

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