> JUST IN: 🇺🇸 US HOUSE OFFICIALLY PASSES BILL TO BAN THE FEDERAL RESERVE FROM CREATING A CBDC UNTIL 2030.
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> WHILE CORPORATE TREASURY FIRMS REMAIN NET BITCOIN BUYERS, THEIR DAILY PURCHASES HAVE DROPPED FROM PEAKS ABOVE $500 MILLION EARLIER THIS SPRING TO MINIMAL LEVELS THIS MONTH, REMOVING A KEY SOURCE OF DEMAND — LINK
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> JUST IN: 🇺🇸 PRESIDENT TRUMP ORDERS DOJ TO LAUNCH INVESTIGATION INTO BIG OIL COMPANIES FOR ARTIFICIALLY INFLATING GAS PRICES.
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> CBOE LAUNCHES PREDICTION MARKET SUITE WITH BINARY OPTION CONTRACTS ON S&P 500 — LINK
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> THIS FRIDAY 8 AM UTC, 162 K $BTC ARE SET TO EXPIRE ON DERIBIT WITH A NOTIONAL VALUE OF $10.16 BILLION.
MAX PAIN PRICE $72,000, PUT/CALL RATIO: 0.81
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MAX PAIN PRICE $72,000, PUT/CALL RATIO: 0.81
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> CORPORATE $BTC TREASURY BUYING HAS SLOWED SHARPLY, FALLING FROM $500M+ PER DAY IN SPRING TO NEAR ZERO THIS MONTH | DATA:
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> GULF STATES ARE NEGOTIATING A NEW SECURITY PACT WITH IRAN, MOVING OUT FROM UNDER THE US UMBRELLA, THE QATARI PM SAYS | PER FT
A SEPARATE ISRAELI REPORT ALLEGES QATAR HAS QUIETLY EXPANDED ECONOMIC AND MILITARY COOPERATION WITH IRAN SINCE 2018. TEHRAN AND DOHA HAVE GROWN CLOSER FOR YEARS, BUT A FORMAL REGIONAL SECURITY FRAMEWORK THAT SIDELINES WASHINGTON WOULD MARK A MAJOR SHIFT IN THE GULF'S POSTURE.
DEVELOPING
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A SEPARATE ISRAELI REPORT ALLEGES QATAR HAS QUIETLY EXPANDED ECONOMIC AND MILITARY COOPERATION WITH IRAN SINCE 2018. TEHRAN AND DOHA HAVE GROWN CLOSER FOR YEARS, BUT A FORMAL REGIONAL SECURITY FRAMEWORK THAT SIDELINES WASHINGTON WOULD MARK A MAJOR SHIFT IN THE GULF'S POSTURE.
DEVELOPING
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> ISRAEL'S DEFENCE MINISTER: ISRAEL WILL NOT WITHDRAW FROM SOUTH LEBANON, EVEN IF THE U.S. DEMANDS IT
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> TRUMP'S WEDNESDAY SCHEDULE
🔸 8:00 AM — EXECUTIVE TIME
🔸 12:00 PM — SIGNS THE 21ST CENTURY ROAD TO HOUSING ACT (CAPITOL)
🔸 1:00 PM — SENATE STEERING COMMITTEE LUNCH (CAPITOL)
🔸 3:30 PM — MEETING WITH NATO SECRETARY GENERAL (OVAL OFFICE)
🔸 5:00 PM — POLICY MEETING (OVAL OFFICE)
🔸 8:30 PM — REMARKS AT THE GREAT AMERICAN STATE FAIR (NATIONAL MALL)
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🔸 8:00 AM — EXECUTIVE TIME
🔸 12:00 PM — SIGNS THE 21ST CENTURY ROAD TO HOUSING ACT (CAPITOL)
🔸 1:00 PM — SENATE STEERING COMMITTEE LUNCH (CAPITOL)
🔸 3:30 PM — MEETING WITH NATO SECRETARY GENERAL (OVAL OFFICE)
🔸 5:00 PM — POLICY MEETING (OVAL OFFICE)
🔸 8:30 PM — REMARKS AT THE GREAT AMERICAN STATE FAIR (NATIONAL MALL)
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> OIL SUPPLY REBOUND EASES MARKET FEARS
UBS SAYS NEARLY 80% OF OIL SUPPLY DISRUPTED BY THE MIDDLE EAST CONFLICT WILL RETURN WITHIN THREE MONTHS, RISING TO ABOUT 90% BY YEAR-END.
BRENT CRUDE HAS FALLEN BELOW $80 AS FLOWS THROUGH THE STRAIT OF HORMUZ RECOVER AND REGIONAL PRODUCTION RAMPS UP.
UBS CUT ITS Q3 SUPPLY-LOSS ESTIMATE TO 7 MILLION BPD FROM 12 MILLION, BUT WARNS FULL NORMALIZATION WILL TAKE TIME DUE TO LOGISTICAL AND OPERATIONAL BOTTLENECKS.
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UBS SAYS NEARLY 80% OF OIL SUPPLY DISRUPTED BY THE MIDDLE EAST CONFLICT WILL RETURN WITHIN THREE MONTHS, RISING TO ABOUT 90% BY YEAR-END.
BRENT CRUDE HAS FALLEN BELOW $80 AS FLOWS THROUGH THE STRAIT OF HORMUZ RECOVER AND REGIONAL PRODUCTION RAMPS UP.
UBS CUT ITS Q3 SUPPLY-LOSS ESTIMATE TO 7 MILLION BPD FROM 12 MILLION, BUT WARNS FULL NORMALIZATION WILL TAKE TIME DUE TO LOGISTICAL AND OPERATIONAL BOTTLENECKS.
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> JPMORGAN INCREASES S&P 500 YEAR-END PRICE TARGET TO 7,800 POINTS; SAYS OUTLOOK APPROACHING “BLUE SKY” SCENARIO
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> US MORTGAGE RATES DIP SLIGHTLY
THE AVERAGE 30-YEAR US MORTGAGE RATE FELL 1 BASIS POINT TO 6.59% IN THE WEEK ENDED JUNE 19, ACCORDING TO THE MORTGAGE BANKERS ASSOCIATION.
TOTAL MORTGAGE APPLICATIONS ROSE 1%, RECOVERING FROM THE PRIOR WEEK'S DECLINE.
REFINANCING ACTIVITY INCREASED 3%, WHILE HOME PURCHASE APPLICATIONS SLIPPED 0.6%, WITH BORROWING COSTS REMAINING NEAR THEIR HIGHEST LEVELS SINCE LAST AUGUST.
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THE AVERAGE 30-YEAR US MORTGAGE RATE FELL 1 BASIS POINT TO 6.59% IN THE WEEK ENDED JUNE 19, ACCORDING TO THE MORTGAGE BANKERS ASSOCIATION.
TOTAL MORTGAGE APPLICATIONS ROSE 1%, RECOVERING FROM THE PRIOR WEEK'S DECLINE.
REFINANCING ACTIVITY INCREASED 3%, WHILE HOME PURCHASE APPLICATIONS SLIPPED 0.6%, WITH BORROWING COSTS REMAINING NEAR THEIR HIGHEST LEVELS SINCE LAST AUGUST.
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