News

Bank of England: UK households and businesses remain resilient overall, but some low-income households and small businesses remain vulnerable.

The Bank of England: Will seek advice on removing the countercyclical leverage buffer, calibrating the additional leverage ratio in line with global standards, and increasing the releasability of buffer funds.

Bank of England: The Prudential Regulation Authority is clarifying that capital buffers for other systemically important banks (O-SII) may be released during periods of systemic stress.

Bank of England: Countercyclical capital buffer remains at 2%.

Bank of England: AI-related companies account for a larger share of equity valuations and debt issuance.

Bank of England: Indebtedness levels of UK households and businesses remain low by historical standards, and debt vulnerability is at average levels.

Bank of England: Will work to establish a simpler and more effective capital buffer framework, focusing on a single buffer that can be released in times of stress.

U.S. Deputy Secretary of Defense: We retain the opportunity to produce PAC-3 missiles outside the United States.

According to Interfax: Russian troops have captured the settlement of Petro-Ivanivka in the Kharkiv region of Ukraine.

U.S. chip stocks weakened before the market opened, with SanDisk (SNDK.O) and Micron Technology (MU.O) falling more than 5%, Western Digital (WDC.O) falling more than 6%, and AMD (AMD.O) falling more than 4%.

European Central Bank: Eurozone banks should develop plans to deal with artificial intelligence attacks by October 31.

According to the German "Der Spiegel" weekly report, the life expectancy of both men and women in Germany has reached a new high. In 2025, the average life expectancy of men is expected to reach 79.1 years, and that of women will be significantly longer, reaching 83.6 years, an increase of 3 months and 2 months respectively compared with 2024. On the other hand, a proposal related to life expectancy has attracted widespread attention in Germany. The German Pension Board proposes linking the retirement age to life expectancy. If passed, the proposal would implement a "2:1" rule: each additional year of life expectancy would be associated with an average of eight months of working time and four months of retirement time.

The commander of Ukraine's drone force said that Ukrainian drones have attacked eight Russian "Shadow Fleet" oil tankers in the Sea of ​​Azov.

According to CNN, sources revealed that US President Trump has considered reducing the number of US troops stationed in Europe by one-third to send a certain signal to NATO. At a meeting at the White House this spring, when Trump learned that NATO allies were refusing to participate in his war against Iran, Trump was furious and hatched an idea. He asked at the time: What would happen if the U.S. military in Europe was reduced by one-third? Does this send the right message to so-called allies? Just around the time Trump proposed this idea, the Pentagon suddenly canceled two deployments of U.S. troops to Europe. and ordered the withdrawal of other personnel from Europe. According to two sources, U.S. Defense Secretary Hegseth originally planned to announce deeper reductions at the NATO meeting in June, which may reach one-third of Trump's proposal. But after consultations with other senior administration officials, the plan changed; Hegseth instead announced a six-month review of U.S. forces in Europe.

According to CNN, sources revealed that US President Trump has considered reducing the number of US troops stationed in Europe by one-third to send a certain signal to NATO. At a meeting at the White House this spring, when Trump learned that NATO allies were refusing to participate in his war against Iran, Trump was furious and hatched an idea. He asked at the time: What would happen if the U.S. military in Europe was reduced by one-third? Does this send the right message to so-called allies? Just around the time Trump proposed this idea, the Pentagon suddenly canceled two deployments of U.S. troops to Europe. and ordered the withdrawal of other personnel from Europe. According to two sources, U.S. Defense Secretary Hegseth originally planned to announce deeper reductions at the NATO meeting in June, which may reach one-third of Trump's proposal. But after consultations with other senior administration officials, the plan changed; Hegseth instead announced a six-month review of U.S. forces in Europe.

United Nations: The United States will remain the top destination for foreign direct investment in 2025, despite a decline in investment inflows.

According to Japan's Kyodo News: Japan's Defense Minister plans to visit Germany at the end of July.

According to CNBC, AI models developed in China are increasingly popular with U.S. companies because they are much cheaper to use while narrowing the performance gap with top U.S. competitors. On the developer platform OpenRouter, the proportion of tokens used by American companies using Chinese AI models has remained above 30% every week since February 8, with the highest even reaching 46%. The average in the previous 12 months was only 11%, and it will be as low as 4.5% in the first half of 2025. In June this year, AI startup Lindy switched 100% of its traffic from Anthropic’s Claude model to China’s DeepSeek. "As soon as we made the adjustment, we could see the cost curve plummet to the floor," said Lindy CEO Flo Crivello, who expected the decision to save the company millions of dollars over several months. Justin Summerville, who is responsible for data and analysis at OpenRouter, said, The price of the open-source Chinese model may be “60% to 90% lower” than the leading models from Anthropic and OpenAI.

[The U.S. dollar remains strong, gold and silver prices fall] Jinrui Futures' research report on July 7 pointed out that from a disk perspective, this round of adjustment mainly comes from the fall in precious metals in the external market and the tightening of macro pricing again: the phased strengthening of the U.S. dollar and the rebound in U.S. bond yields, coupled with the market waiting for the minutes of the Federal Reserve meeting, suppressed the repair of the valuation of non-interest-bearing assets. The decline in gold prices was relatively limited, reflecting that hedging and medium- and long-term allocation needs still provide certain support; the decline in silver prices was significantly larger, mainly due to the high elasticity of financial attributes, enhanced attributes of industrial products, and long-term profit taking under high volatility. In the short term, gold and silver are still in the shock recovery stage. If the US dollar and real interest rates continue to rise, Prices are still under pressure to push back; however, the room for deep declines in the short term is expected to be limited, and further trend declines still require stronger inflation data. The follow-up focus will be on the Federal Reserve meeting minutes, US inflation data, US dollar index and changes in real interest rates. (This content and opinions are for reference only and do not constitute any investment advice)

Shares of U.S. semiconductor companies fell in premarket trading, with Nvidia (NVDA.O) down 0.8%, Broadcom (AVGO.O) down 1.9%, AMD (AMD.O) down 3.1%, Intel (INTC.O) down 3.3% and Qualcomm (QCOM.O) down 2.4%. Micron Technology (MU.O) fell 4.9%, SanDisk (SNDK.O) fell 5%, Seagate Technology (STX.O) fell 3.9% and Western Digital (WDC.O) fell 5.3%.