EXCHANGE: COMEX
CONTRACT: JUNE 2026 COMEX 100 GOLD FUTURES
SETTLEMENT: 4,335.900000000 USD
INTENT DATE: 06/08/2026 DELIVERY DATE: 06/10/2026
FIRM ORG FIRM NAME ISSUED STOPPED
099 H DEUTSCHE BANK AG 2
363 H WELLS FARGO SECURITI 36
555 C BNP PARIBAS SEC CORP 139
661 C JP MORGAN SECURITIES 17
709 C BARCLAYS 188
905 C ADM 6
TOTAL: 194 194
MO
GOLD: NUMBER OF NOTICES FILED FOR JUNE/2026: 194 CONTRACTs NOTICES FOR 19,400 OZ or 0/6034 TONNES
total notices so far: 28,985 contracts FOR 2,898,500 OZ OR 90.155 TONNES
SILVER NOTICES: 1 NOTICE(S) FILED FOR 5,000 OZ /
total number of notices filed so far this month : 2110 CONTRACTS (NOTICES) for 10.550 million oz
SILVER//OUTLINE
INITIAL STANDING FOR JANUARY: 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.185 MILLION OZ QUEUE JUMP//NEW NORMAL STANDING ADVANCES TO 49.445 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK FOR .100 MILLION OZ//NEW STANDING ADVANCES TO 49.545 MILLION OZ!!
INTIAL STANDING FOR FEBRUARY/SILVER: 13.505 MILLION OZ FOLLOWED BY TODAY’S HUGE 0.005 MILLION OZ QUEUE JUMP / : NEW STANDING FOR SILVER AT THE COMEX ADVANCES TO 25.180 MILLION OZ. BUT WE MUST ADD OUR FIRST EXCHANGE FOR RISK OF 25 CONTRACTS FOR .125 MILLION OZ AND THEN OUR SECOND EXCHANGE FOR RISK OF .0600 MILLION OZ TO OUR THIRD HUGE 2.825 MILLION OZ EXCHANGE FOR RISK!!
INITIAL STANDING FOR MARCH: A SURPRISINGLY LOW 31.076 MILLION OZ/ FOLLOWED BY A TINY QUEUE JUMP OF XX CONTRACTS OR XXX OZ/NEW STANDING ADVANCES TO 46.060 MILLION OZ
INITIAL STANDING FOR APRIL: 7.120 MILLION OZ FOLLOWED BY TODAY’S 1 CONTRACT QUEUE JUMP WHERE 5,000 OZ WILL TAKE DELIVERY OVER ON THIS SIDE OF THE POND. NEW STANDING FOR SILVER AT THE COMEX THUS ADVANCES SLIGHTLY TO 16.565 MILLION OZ PLUS WE MUST ADD OUR 4TH EXCHANGE FOR RISK ISSUANCE OF 17 CONTRACTS OR 0.085 MILLION OZ. THESE WILL BE ADDED TO OUR OTHER 3 ISSUANCES //NEW TOTAL EXCHANGE FOR RISK//1.165 MILLION OZ// NEW TOTAL SILVER STANDING 17.730 MILLION OZ//
INITIAL STANDING FOR MAY: 31.495 MILLION OZ FOLLOWED BY ANOTHER 3 CONTRACT EXCHANGE FOR PHYSICAL JUMP TO LONDON FOR 0.015 MILLION OZ// AND THEN TO BOOT WE HAD OUR FIRST EXCHANGE FOR RISK ISSUANCE FOR 51 CONTRACTS OR 255,000 OZ MAY 21./STANDING BEFORE EXCHANGE FOR RISK: 32.070 MILLION OZ/NEW STANDING THUS REDUCES TO 32.325 MILLION OZ/.//(32.070 MILLION OZ NORMAL STANDING PLUS .255 MILLION OZ EXCHANGE FOR RISK = 32.325 MILLION OZ)
JUNE INITIAL STANDING FOR SILVER:10.935 MILLION OZ TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 10,000 OZ//NEW STANDING ADVANCES TO 11.675 MILLION OZ//
SUMMARY OF OUR JUNE 2026 COMEX CONTRACT MONTH:
JULY: 50.925 MILLION OZ (QUITE SMALL)
AUGUST: 59.455 MILLION OZ (QUITE SMALL)
SEPT. 50.510 MILLION OZ.(QUITE SMALL)
OCT; 82.020 MILLION OZ (WILL BE STRONG THIS MONTH)/ OCC WANTS TO REIN IN THESE ISSUANCES!
NOVEMBER: 36.425 MILLION OZ
DEC: 45.765 MILLION OZ
JANUARY 2026: 134.270 MILLION OZ (WILL BE A VERY STRONG MONTH FOR EXCHANGE FOR PHYSICAL!)
FEB : 82.130 MILLION OZ
MARCH: 56.075 MILLION OZ
APRIL; 44.44 MILLION OZ//FINAL.. SMALL THIS MONTH.
MAY 59.79 MILLION OZ
JUNE..20.705 MILION OZ
AND JULY: 46.720 MILLION OZ//
AUGUST: 4.70 MILLION OZ INITIAL STANDING PLUS TODAY;S 5,000 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 10.960 MILLION OZ
SEPTEMBER: 68.040 MILLION OZ NORMAL DELIVERY(INCLUDES ALL QUEUE JUMPING AND EXCHANGE FOR PHYSICAL TRANSFERS) PLUS 3.0 MILLION OZ EX FOR RISK = 71.040 MILLION OZ. (THIS IS THE FIRST AND ONLY ISSUANCE OF EXCHANGE FOR RISK FOR SILVER SINCE MAY.)
OCTOBER: 39.565 MILLION OZ OF NORMAL DELIVERY INCLUDES ALL QUEUE JUMPING
PLUS
2.110 MILLION OZ EXCHANGE FOR RISK//TOTAL OZ STANDING IN OCT ADVAN
NOVEMBER: INITIAL STANDING AT 11.575 MILLION OZ FOLLOWED BY TODAY’S 195,000 OZ QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 9.155 MILLION OZ//STANDING ADVANCES TO 19.670 MILLION OZ/
DECEMBER: INITIAL AMOUNT STANDING FOR DELIVERY: 49.33 MILLION OZ// FOLLOWED BY ANOTHER STRONG 835,000OZ QUEUE JUMP+ DEC. FIRST EXCHANGE FOR RISK 0F .850 MILLION OZ + LAST WEEK.S 495,000 OZ EXCHANGE FOR RISK AND THEN A 3RD ISSUANCE IF 1.00MILLION OZ THEN FINALLY DEC 249ISSUANCE OF 1.35 MILLION OZ EXCHANGE FOR RISK//NEW TOTAL EX FOR RIS IS 3.685 MILLION OZ // STANDING ADVANCES TO 68.415 MILLION OZ//
JANUARY: INITIAL STANDING 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.185 MILLION OZ QUEUE JUMP//NORMAL STANDING ADVANCES TO 49.445 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 0.100 MILLLION OZ//NEW STANDING ADVANCES TO 49.545 MILLION OZ
FEB: 13.399 MILLION OZ IS OUR INITIAL STANDING FOR SILVER! TO WHICH WE ADD OUR NEXT QUEUE JUMP FOR 5,000 OZ AND THEN ADD OUR 3 EXCHANGE FOR RISK FOR 3.010 MILLION OZ STANDING ADVANCES TO 28.190 MILLION OZ!!
MARCH: INITIAL AMOUNT OF SILVER STANDING IS 31.076 MILLION OZ FOLLOWED BY A FINAL 0.210 MILLION OZ QUEUE JUMP //NEW TOTAL STANDING ADVANCES TO 46.060 MILLION OZ
APRIL 2026: INITITAL AMOUNT OF SILVER STANDING 7.120 MILLION OZ FOLLOWED BY TODAY’S 5,000 OZ QUUE JUMP //NEW STANDING ADVANCES TO 16.565MILLION OZ PLUS 1.165 MILLION OZ EXCHANGE FOR RISK.NEW TOTALS 17.730 MILLION OZ
MAY: INITIAL AMOUNT OF SILVER WILLING TO STAND; 31.495 MILLION OZ/ TO WHICH WE ADD OUR NEXT EXCHANGE FOR PHYSICAL JUMP OF 15,000 OZ//NEW STANDING REDUCES TO 32.070 MILLION OZ//(FOLLOWING MANY EXCHANGE FOR PHYSICAL TRANSFERS TO LONDON DURING THIS MAY DELIVERY MONTH). THERE SEEMS TO BE A SCARCITY OF SILVER OVER AT THE COMEX). THEN WE ADD OUR FIRST EXCHANGE FOR RISK OF 51 CONTRACTS FOR 255,000 OZ//STANDING ADVANCES TO 32.325 MILLION OZ//
JUNE: INITIAL AMOUNT OF SILVER WILLING TO STAND: 10.935 MILLION OZ PLUS OUR NEXT QUEUE JUMP OF 10,000 OZ//NEW STANDING ADVANCES TO: 11.675 MILLION OZ
GOLD//OUTLINE
1.MAY SUMMARY FOR MAY TONNES WHICH STOOD FOR DELIVERY:
4. AUGUST: 60.547 TONNES OF INITIAL GOLD FIRST DAY NOTICE FOLLOWED BY THE NET MONTH’S QUEUE JUMP OF 47.2312 TONNES TO WHICH WE ADD THE FOLLOWING EXCHANGE FOR RISK ISSUANCE RECEIVED FOR THE MONTH: 5.4432 TONNES EX FOR RISK/AUG 7 , AUG 11: 2.413 TONNES EX FOR RISK AND AUG. 12 OF 2.
5.SEPT: INITIAL 8.093 TONNES OF GOLD PLUS TODAY’S QUEUE JUMP OF 0.4883 TONNES PLUS 2.2827 TONNES OF EXCHANGE FOR RISK TODAY//NEW TOTAL EX. FOR RISK/MONTH = 22.923//NEW TOTAL STANDING FOR GOLD SEPT ADVANCES TO = 48.801 TONNES!!
6.OCTOBER: 90.012 TONNES OF INITIAL GOLD STANDING WITH TODAY’S TINY 0.00311 TONNES QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS DURING OCT OF 76.1656 TONNES
THEN WE MUST ADD OUR 14.553 TONNES OF OUR ISSUANCE OF EXCHANGE FOR RISK/6 OCCASIONS//NEW TOTAL OF GOLD STANDING ADVANCES TO 197.5141 TONNES OF GOLD.
7.NOVEMBER BEGINS WITH 15.651 TONNES INITIALLY STANDING FOR DELIVERY FOLLOWED BY TODAY’S QUEUE JUMP OF 2.323 TONNES FOLLOWED BY ALL PREVIOUS QUEUE JUMPS IN OF OF 21.3775 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE OF 4.5596 TONNES//NEW STANDING ADVANCES TO 43.9716 TONNES OF GOLD.
8. DECEMBER BEGINS WITH INITIAL STANDING OF 83.813 TONNES OF GOLD FOLLOWED BY TODAY’S 0.0TONNE QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF: 37.163 TONNES//NEW STANDING ADVANCES TO 115.390 TONNES TO WHICH WE ADD OUR 4 EXCHANGE FOR RISK FOR DECEMBER OF 6.587 TONNES/NEW STANDING ADVANCES TO 121.977 TONNES
9. JANUARY: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR FIRST EXCHANGE FOR PHYSICAL TRANSFER OF 0.08709 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 30.7117TONNES //NEW TOTAL QUEUE JUMPS 30.7117//NORMAL DELIVERY OF GOLD ADVANCES TO 36.8958 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 22.315 TONNES//NEW STANDING ADVANCES TO 59.2108 TONNES.
FEB; INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 93.567 TONNES OF GOLD TO WHICH WE ADD OUR NEXT 0.0248 TONNES 0.1555 TONNES QUEUE JUMP TO 41.2082 TONNES/ NEW NET QUEUE JUMP INCREASES TO 41.233 TONNES// AND THEN WE ADD OUR SIX EXCHANGE FOR RISK: 10,080 CONTRACTS OR 31.251 TONNES//NEW STANDING REDUCES TO 157.878 TONNES
MARCH:: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 8.099 TONNES TO WHICH WE ADD TODAY’S FAIR 4600 OZ QUEUE JUMP (0.2320 TONNES) AND THEN WE ADD OUR THREE EXCHANGE FOR RISK OF 22.3818 TONNES //NEW STANDING ADVANCES TO 67.6648 TONNES/
APRIL: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 52.600 TONNES FOLLOWED BY OUR 345 CONTRACT QUEUE JUMP FOR 34,500 OZ/ (1.073 TONNES)/NEW STANDING ADVANCES TO 70.286 TONNES TO WHICH WE ADD OUR 2ND EXCHANGE FOR RISK OF 1498 CONTRACTS FOR 149800 OZ OR 4.659 TONNES. THE NEW TOTAL EXCHANGE FOR RISK FOR THE MONTH OF APRIL IS 2239 CONTRACTS OR 223900 OZ OR 6.964 TONNES AND THIS WILL BE ADDED TO OUR NORMAL DELIVERY TOTALS (70.762 TONNES) TO GIVE US WHAT WILL STAND IN APRIL (77.726 TONNES)
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 12.24 TONNES OF GOLD TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 345 CONTRACTS OR 34500 OZ (1.073 TONNES) TO WHICH WE ADD OUR FIVE EXCHANGE FOR RISK ISSUANCES FOR 24.635 TONNES/STANDING NOW ADVANCES TO 51.554 TONNES OF GOLD.
JUNE; INITIAL AMOUNT OF GOLD WILLING TO STAND; 64.496 TONNES.(CME CORRECTED) TO WHICH WE ADD OUR NEXT 0.4945 TONNES OF A QUEUE JUMP/NEW STANDING ADVANCES TO 98.538 TONNES
STANDING FOR THE LAST 5 MONTHS JANUARY TO MAY:
FINAL STANDING FOR GOLD, JANUARY CONTRACT AT 59.2108 TONNES OF GOLD
FEBRUARY: INITIAL STANDING FOR GOLD: 157.878 TONNES!! WHICH INCLUDES ALL QUEUE JUMPING, THREE EXCHANGE FOR PHYSICAL TRANSFERS TO LONDON AND OUR SIX ISSUANCES EXCHANGE FOR RISK!!
MARCH: INITIAL STANDING AT 8.099 TONNES TO WHICH WE ADD OUR FINAL DAY: 0.2320 TONNES QUEUE JUMP AND THEN ADD +22.3818 TONNES EXCHANGE FOR RISK//NEW STANDING ADVANCES TO 67.6648 TONNES
APRIL: INITIAL STANDING 52.600 TONNES PLUS 27,800 OZ QUEUE JUMP (0.8648TONNES): NEW STANDING ADVANCES TO 70.286 TONNES PLUS OUR TWO EXCHANGE FOR RISK FOR 223,900 OZ OR 6.964 TONNES/NEW STANDING: 77.726 TONNES
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND; 12.24 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP FOR 345 CONTRACTS/34,500 OZ// 1.073 TONNES/ THEN WE MUST ADD OUR EXCHANGE FOR RISK ISSUANCE: TOTAL EXCHANGE FOR RISK MAY// 5 OCCASIONS: 24.635 TONNES///NEW STANDING NOW ADVANCES TO 51.554 TONNES
JUNE: INITIAL AMOUNT OF GOLD WILLING TO STAND: 64.496 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.4945 TONNES//NEW STANDING ADVANCES TO 98.538 TONNES
JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)
FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)
MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.
APRIL; 208.57 TONNES. STRONG THIS MONTH
MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH
JUNE: 97.79 TONNES OF GOLD EFP ISSUANCE/EXTREMELY SMALL
JULY : 150.877 TONNES// QUITE SMALL
AUGUST: 175.86 TONNES A LOT LARGER THIS MONTH.
SEPT. 116.13 TONNES VERY SMALL
OCT. 252.72 TONNES//CERTAINLY MUCH LARGER THIS MONTH/VERY STRONG
NOV: 124.74 TONNES
DEC: 190.04 TONNES//GOOD SIZED THIS MONTH FINAL.
TOTAL EXCHANGE FOR PHYSICAL ISSUED FOR YEAR 2025: 2,026.20 TONNES (LOWER THAN LAST YR 2,569.00 TONNES
JANUARY: 209.08 TONNES ( (WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL)
FEB. 176.35 TONNES (WHICH IS A FAIR ISSUANCE)
MARCH: 214.67 TONNES//WILL BE STRONG ISSUANCE THIS MONTH
APRIL; 88.00 TONNES// WILL BE VERY SMALL THIS MONTH
MAY 118.430 TONNES
JUNE: 54.503 TONNES
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SOIS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSIT
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
SILVER:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A FAIR 272 CONTRACTS TO AN OI OF 103,188.
EFP ISSUANCE 865 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 865 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 0 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 272 CONTRACTS AND ADD TO THE 865 E.FP. ISSUED
WE OBTAIN A HUGE GAIN OF 1137 OI OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES DESPITE OUR LOSS OF $0.52
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 7.040 MILLION PAPER OZ
OCCURRED WITH OUR LOSS IN PRICE.OF $0.52
2.ASIAN AFFAIRS JUNE 9 /2025
SHANGHAI CLOSED UP 50.69 PTS OR 1,28%
HANG SENG CLOSED DOWN 91.16 PTS OR 0.37%
Nikkei CLOSED UP 1,226.40 PTS OR 1.92%
//Australia’s all ordinaries CLOSED UP 1.37%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.7719
/ OFFSHORE CLOSED UP AT 6.7725 Oil DOWN TO 89.36 dollars per barrel for WTI and BRENT DOWN TO 92.58 Stocks in Europe OPENED ALL MOSTLY GREEN
ONSHORE USA/ YUAN// WITH YUAN TRADING UP (6.7719) OFFSHORE YUAN TRADING UP TO 6.7725 ONSHORE YUAN TRADING ABOVE LEVEL OF OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER/OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR 1702 CONTRACTS TO 331, RISING FROM ITS NEW ALL TIME LOW OF 326,052 OI SET JUNE 3, SURPASSING THE PREVIOUS ALL TIME LOW OF 345,705 SET (MAY 28) AND SURPASSING THE PREVIOUS ALL TIME LOW IN OI OF 353,490 SET MAY 27.. PREVIOUS TO THAT THE ALL TIME LOW IN OI WAS 390,000 SET IN THE YEAR 2001 WHEN GOLD WAS TRADING $260.00. THE CME SHOULD BE PROUD OF THEMSELVES AS MANY HAVE ABANDONED THIS CROOKED ARENA!!THUS OUR NEW ALL TIME LOW OF COMEX OI HAS NOW BEEN SET AT 326,052 WITH GOLD AT AN EXTREMELY HIGH $4,450.00 WHICH MAKES ABSOLUTELY NO SENSE!!!
WE HAD CONSIDERABLE T.A.S. LIQUIDATION DURING MONDAY’S TRADING JUNE 8!!. IT SEEMS THAT SOME OF THE SPECULATORS CONTINUED AGAIN TO GO MASSIVELY ON THE SHORT SIDE BUT WITH THE BANKERS NOW TAKING THE LONG SIDE,AND CENTRAL BANKS SUPPLYING THE NECESSARY PAPER, AS WELL AS COVERING THEIR SHORTFALL.
CENTRAL BANKS ALSO TENDERED THEIR NEW LONG CONTRACTS AT THE END OF THE DAY FOR PHYSICAL GOLD. YOU CAN VISUALIZE THIS WITH THE STRONG AMOUNT OF GOLD STANDING AT THE COMEX FOR THIS MAY CONTRACT MONTH!!
THE SMALL SIZED GAIN ON OUR TWO EXCHANGES OCCURRED WITH OUR LOSS IN PRICE IN GOLD (DOWN $3.05).
WE THUS HAD A SMALL SIZED GAIN IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 415 CONTRACTS (OR 1.290 TONNES) DESPITE OUR LOSS IN PRICE, AS WE WERE INFORMED OF A STRONG CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE, EQUATING TO 2117 CONTRACTS.
THEN WE WERE NOTIFIED TODAY OF A 0 CONTRACT FOR RISK ISSUANCE IN GOLD CONTRACTS FOR 0 OZ OR 0 TONNES OF GOLD. ON FRIDAY, BY FAR WE HAD THE HIGHEST EVER EXCHANGE FOR RISK EVER ISSUED AT ONE TIME BEATING THE PREVIOUS SINGLE HIGHEST ISSUE BY ONE TONNE. THUS MAY 22 RECORDS THE HIGHEST EVER EXCHANGE FOR RISK AT 12.4416 TONNES. WE HAD OUR FIRST ISSUANCE FOR EXCHANGE FOR RISK IN THE MONTH OF MAY ON MAY 7, THEN OUR 2ND ISSUANCE FOR OUR MAY GOLD MONTH ON MAY 12. THE THIRD ON MAY 18 , THEN MAY 21 OUR 4TH ISSUANCE AND THEN FINALLY FRIAY, OUR 5TH ISSUANCE. THIS GOLD WILL BE ADDED TO OUR NORMAL MAY DELIVERIES TO GIVE US OUR FINAL AMOUNT OF GOLD WILLING TO STAND AT THE COMEX..
HISTORY OF EXCHANGE FOR RISK ISSUANCE THIS YEAR: FEBRUARY THROUGH MAY
FEBRUARY:
DURING THE MIDDLE OF THE FEBRUARY CONTRACT MONTH, WE HAD TWO IDENTICAL MONSTER 3,000 CONTRACT ISSUED FOR THE SAME 9.33 TONNES OF GOLD, AND THESE WERE THE HIGHEST EVER IN TONNAGE EVER ISSUED BY THE COMEX. ALTOGETHER THE TOTAL ISSUANCE FOR FEB TOTALLED SIX.(31.251 TONNES).
MARCH:
THURSDAY MARCH 17 WE RECEIVED ITS INITIAL 2000 CONTRACT EXCHANGE FOR RISK ISSUANCE FOR 6.22 TONNES. LAST FRIDAY: 0 ISSUANCE OF EXCHANGE FOR RISK. BUT ON MONDAY MARCH 23 WE RECEIVED NOTICE OF OUR SECOND EXCHANGE FOR RISK ISSUANCE FOR 2,200 CONTRACTS (220,000 OZ OR 6.843 TONNES) AND NOW FRIDAY WITH A MONSTER 2996 CONTRACTS FOR 9.3138 TONNES. THESE THREE ISSUANCES WILL NOW BE ADDED TO THE REGULAR AMOUNT OF GOLD STANDING, I.E. 22.3818 TONNES TO OUR NORMAL GOLD STANDING TO GIVE US WHAT WILL STAND FOR PHYSICAL GOLD FOR MARCH!
APRIL;: 2 EXCHANGE FOR RISK SO FAR, I.E. 2239 CONTRACTS FOR 223,900 OZ OR 6.964 TONNES AND THIS TOTAL TONNES WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US WHAT WILL STAND IN APRIL
MAY: FIVE ISSUANCES SO FAR FOR 7920 CONTRACTS OR 792,000 OZ OR 24.635 TONNES.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
A LITTLE HISTORY OF EXCHANGE FOR RISK DECEMBER THROUGH TO MAY:
IN DECEMBER WE HAVE RECORDED 5 ISSUANCES OF EXCHANGE FOR RISK/4 FOR DEC AND THE LAST ONE ON DEC 31 FOR JANUARY. WE NOW HAVE 3 CHOICES FOR THE RECIPIENT OF THIS ISSUANCE AND IT MUST BE A CENTRAL BANK. YOU WILL RECALL THAT THE BUYER ASSUMES THE RISK OF THAT DELIVERY. (THUS TOTAL EXCHANGE FOR RISK FOR THE MONTH OF DECEMBER IS 6.56 TONNES/4 OCCASIONS.
MONTH OF JANUARY/EXCHANGE FOR RISK
IN JANUARY THEY HAVE 6 TOTAL ISSUANCE : 3.446 TONNES EARLY, THEN JAN 9 ISSUANCE OF 9,331 TONNES AND THEN JAN 16: 0.1996 TONNES JAN 26: 1.499 TONNES, JAN 27: 3.160 AND FINALLY JAN 29: 4.659 TONNES TONNES//TOTAL EXCHANGE FOR RISK JANUARY 22.315 TONNES WHICH WAS ADDED TO OUR NORMAL DELVERIES.
AND FEBRUARY:
FEB EXCHANGE FOR RISK: NOW 6 ISSUANCES: 10,080 CONTRACTS FOR 1,008,000 OZ OR 31.251 TONNES!
HERE ARE THE CHOICES FOR THE RECIPIENT OF THOSE ISSUANCES:
1 THE CENTRAL BANK OF ENGLAND. BUT THEY RECEIVED CLEARANCE THAT THEIR GOLD IS BACK SO IT IS NOT LIKELY THAT THEY WOULD LIKE TO ADD TO THEIR RESERVES.
2. THE CENTRAL BANK OF THE USA: THE FED. LOGICAL CHOICE AS THEY CLAMOUR TRYING TO REDUCE THEIR 106+ TONNES OF SHORTAGE. HOWEVER THEY SEEM NOT TO BE IN A HURRY TO COVER THEIR HUGE SHORTFALL
3. THE CENTRAL BANK OF CHINA AS THEY BATTLE WITS WITH THE USA.
TOTAL EXCHANGE FOR RISK FOR DECEMBER IS 6.56 TONNES AND THIS WAS ADDED TO OUR NORMAL DELIVERY TOTALS..
THE JANUARY ISSUANCE OF 17.656 TONNES WAS ADDED TO OUR DAILY DELIVERY TOTALS!!
FEBRUARY ISSUANCES 6 FOR; 31.251 TONNES !! AND THIS WAS ADDED TO OUR DELIVERY TOTALS FOR THIS MONTH.
MARCH: CME ANNOUNCES ITS FIRST EXCHANGE FOR RISK FOR 2000 CONTRACTS FOR 200,000 OZ OR 6.22 TONNES OF GOLD DURING THE FIRST WEEK OF MARCH, AND THEN MONDAY, MARCH 22, WE RECEIVED ITS SECOND NOTICE ISSUANCE OF 2200 CONTRACTS OR 220000 OZ (6.843 TONNES). THEN FINALLY WE RECEIVED NOTICE OF OUR THIRD EXCHANGE FOR RISK OF 2996 CONTRACTS OR 9.3188 TONNES. TOGETHER ALL 3 ISSUANCES TOTAL 22.3818 TONNES WHICH WILL BE ADDED TO OUR NORMAL DELIVERY SCHEDULE.
APRIL: 2 EXCHANGE FOR RISK SO FAR FOR 223,900 OZ OR 6.964 TONNES. AND THIS TOTAL WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US WHAT WILL STAND FOR APRIL!!
MAY: FIVE ISSUANCES SO FAR FOR 7920 CONTRACTS, 792,000 OZ OR 24.635 TONNES OF GOLD. THIS TOTAL WILL BE ADDED TO OUR NORMAL DELIVERIES IN MAY TO GIVE US WHAT WILL STAND IN MAY.
JUNE: ZERO SO FAR
DETAILS ON OUR NEW JUNE COMEX CONTRACT MONTH//
IN TOTAL WE HAD A SMALL GAIN ON OUR TWO EXCHANGES OF 695 CONTRACTS DESPITE OUR LOSS IN PRICE ($3.05). HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN THROUGHOUT THIS WEEK AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED ATTACKS VERY EARLY IN THE COMEX SESSIONS AS THEY TRIED TO ABSORB EVERYTHING IN SIGHT FROM THEIR DAILY ATTACKS. LONDONERS EXERCISED THEIR BOUGHT CONTRACTS FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE AND THANKED THE FRBNY AND OUR SHORT SPECULATORS FOR THEIR THOUGHTFULNESS.
LONDON ANNOUNCED EARLY IN THE YEAR (AND SCARCITY CONTINUES TO THIS DAY) THAT THEY WERE OUT OF GOLD. WRONGLY IT WAS ATTRIBUTED TO THEIR SHIPPING PHYSICAL GOLD TO COMEX FOR STORAGE DUE TO TRUMP’S INITIATION OF TARIFFS. THE TRUTH OF THE MATTER IS THAT THIS GOLD LEFT LONDON TO OTHER CENTRAL BANKS, AND COMEX BANKS HAVE BEEN PAPERING THEIR LOSSES (DERIVATIVE) WITH KILOBAR ENTRIES. BOTH COMEX AND LBMA ARE WITNESSING MASSIVE AMOUNTS OF GOLD LEAVING THEIR VAULTS.
THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THE MONTHS OF JUNE THROUGH MAY/ CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY ALTHOUGH THE T.A.S. ISSUANCES IN GOLD HAVE GENERALLY BEEN ON THE LOW SIDE COMPARED TO SILVER WHICH HAVE BEEN HUGE. TODAY’S NUMBER HOWEVER IS A FAIR SIZED T.A.S ISSUANCE CONTRACTS .THE CME NOTIFIES US THAT THEY HAVE ISSUED 1533 T.A.S CONTRACTS. THESE ARE GENERALLY USED FOR RAID PURPOSES TO STOP GOLD’S RISE AND TO TEMPER HUGE LOSSES IN OTC DERIVATIVE BETS
IT SURE LOOKS LIKE THE BIS HAS SOMEHOW LOOKED THE OTHER WAY WITH ITS GOLD SWAPS WITH THE FRBNY AS THIS ENTITY FOR THE FED REFUSES THE BIS MARCHING ORDERS TO COVER AND THAT MAY EXPLAIN THE STRONG NUMBER OF T.A.S. ISSUANCES IN DECEMBER , JANUARY AND THROUGHOUT FEBRUARY TO GO ALONG WITH OUR HUGE NUMBER OF EXCHANGE FOR RISK ISSUED DURING THESE MONTHS INCLUDING FEBRUARY’S 6 EXCHANGE FOR RISK WHICH ALSO INCLUDED TWO MONSTER 9.3312 TONNE ISSUANCE (FEB 10 AND FEB 12). TOTAL EXCHANGE FOR RISK/FEB EQUALS 31.251 TONNES!! AND MARCH’S THREE ISSUANCES FOR 22.3818 TONNES! OTHER CENTRAL BANKS ARE PAYING ATTENTION AS THEY TAKE DELIVERY OF HUGE AMOUNTS OF PHYSICAL GOLD. APRIL HAD 2 EXCHANGE FOR RISK ISSUANCES FOR 6.694 TONNES. AND NOW MAY WITH ITS 5TH ISSUANCE FOR 12.4436 TONNES///TOTAL EXCHANGE FOR RISK FOR MAY: 24.635 TONNES ISSUED MAY 6 ,MAY 12, MAY 18 MAY 21 AND NOW MAY 22..
WE MUST ALSO REMEMBER THAT THE FRBNY IS SHORT 134+ TONNES OF GOLD, THIS COMMENCED ON JAN 2 2023 AS THEY REFUSE TO COVER DESPITE THE BIS’S PLEA TO DO SO. WE WILL KNOW IN JUNE WHETHER THEY COVERED ANY OF THEIR SHORTFALL.
HERE IS A SUMMARY OF GOLD STANDING FOR DELIVERY ON OUR LAST 12 MONTHS:
1.APRIL AT 209 TONNES
2. AND THIS CONTINUED INTO MAY WITH FINAL STANDING AT 90.23 TONNES.
3. JUNE WHICH IS A HUGE DELIVERY MONTH , FINAL STANDING WAS RECORDED AT A STRONG 93.085 TONNES. //(TOTAL NET QUEUE JUMPING FOR THE JUNE MONTH: 31.027 TONNES.)
4. IN JULY WE HAD HUGE DELIVERY NOTICES ESPECIALLY FOR A NON ACTIVE DELIVERY MONTH WITH INITIAL STANDING AT 17.947 TONNES PLUS MANY QUEUE JUMPS + 3.75 TONNES EX FOR RISK = 41.106 TONNES OF GOLD // FINAL TOTAL TONNES STANDING JULY: 41.106 TONNES
5. FOR THE MONTH OF AUGUST:
INITIAL AMOUNT OF GOLD STANDING FOR AUGUST: 60.547 TONNES PLUS THE MONTHS HUGE QUEUE JUMPS OF 47.2312 TONNES +44.696 TONNES EX FOR RISK (7 ISSUANCES) //NEW STANDING 152.208 TONNES WHICH IS MONSTROUS!!!
6. FINAL AMOUNT OF GOLD STANDING FOR SEPT; INITIAL STANDING; 2,602 CONTRACTS OR 260,200 OZ FOR 8.093 TONNES OF GOLD FOLLOWED BY TODAY’S 0.4883 TONNES QUEUE JUMP TO GO ALONG WITH TODAY’S 1.244 TONNES OF EXCHANGE FOR RISK ISSUANCE TODAY AND // TOTAL EXCHANGE FOR RISK ISSUANCE SEPT: 22.923 TONNES//NEW TOTALS STANDING ADVANCES TO 48.801 TONNES OF GOLD!!!
7. OCTOBER:
OCTOBER: INITIAL STANDING FOR GOLD: 90.164 TONNES TO WHICH WE ADD OUR LATEST OCT 30 QUEUE JUMP OF 0.00311 TONNES WHICH FOLLOWS OCT 29 QUEUE JUMP OF .4096 WHICH FOLLOWS; OCT 28 QUEUE JUMP OF .5069 TONNES WHICH FOLLOWS OCT 27 OF 0.3048 TONNES WHICH FOLLOWS: OCT 24 OF 0.8615 TONNES, FOLLOWING OCT 23 QUEUE JUMP OF 1.695 TONNES OCT 22 JUMP OF 8.622 TONNES WHICH FOLLOWS OCT 21: 3.8600 TONNES TO OCT 20 QUEUE JUMP OF 7.695 TONNE
SUMMARY FOR OCTOBER STANDING:
NOVEMBER WHERE INITIAL AMOUNT OF GOLD STANDING IS REGISTERED AT 15.651 TONNES OF GOLD FOLLOWED BY TODAY’S QUEUE JUMP OF 2 TONNES AND FOLLOWED BY ALL OTHER NOV QUEUE JUMPS OF 21.3775 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE FOR 4.5596 TONNES.
/STANDING ADVANCES TO 43.9716 TONNES OF GOLD.
DECEMBER: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY IN THIS ACTIVE MONTH IS 83.813 TONNES FOLLOWED BY TODAY’S 0.05 TONNES QUEUE JUMP. THIS FOLLOWS ALL OTHER QUEUE JUMPING: 37.163 TONNES//NEW STANDING ADVANCES TO 115.390 TONNES TO WHICH WE ADD OUR FOUR EXCHANGE FOR RISK ISSUANCE OF 6.559 TONNES//NEW STANDING THUS INCREASES TO 121.977 TONNES
JANUARY: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR QUEUE JUMP OF 0.000 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 30.7117TONNES //NEW TOTAL QUEUE JUMPS 30.7117//NORMAL DELIVERY OF GOLD ADVANCES TO 36.8958 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 22.315 TONNES//NEW STANDING ADVANCES TO 59.2108 TONNES.
FEBRUARY: . FEBRUARY: INITIAL STANDING: 93.566 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.0248 TONNES WHICH MUST BE ADDED ALL OTHER QUEUE JUMPS OF 41.2087 TONNES QUEUE JUMP//TOTAL QUEUE JUMP FOR FEB::ADVANCES TO 41.233 TONNES///STANDING ADVANCES TO 126.628 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 31.251 TONNES/NEW STANDING RISES TO 157.879 TONNES
MARCH: INITIAL STANDING FOR GOLD: 8.099 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.2320 TONNES AND THEN WE ADD OUR THREE EXCHANGE FOR RISK OF 22.3818 TONNES////NEW STANDING FOR GOLD ADVANCES TO: 67.6648TONNES WHICH IS ABSOLUTELY HUGE FOR A NON ACTIVE DELIVERY MONTH!!
APRIL 2026: INITIAL STANDING FOR GOLD: 52.20 TONNES FOLLOWED BY TODAY’S SMALL 500 OZ QUEUE JUMP/ TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCES TOTALLING 223,900 OZ OR 6.964 TONNES//STANDING ADVANCES TO 77.726 TONNES WHICH IS ABSOLUTELY HUGE
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 12.24 TONNES OF GOLD TO WHICH WE ADD OUR NEXT HUGE QUEUE JUMP OF 34,500 OZ (1.073 TONNES) TO WHICH WE ADD OUR FIVE EXCHANGE FOR RISK ISSUANCE FOR 792,000 OZ OR 24.635 TONNES////NEW TOTALS STANDING FOR GOLD ADVANCES TO 51.554 TONNESS
JUNE: INITIAL AMOUNT OF GOLD WILLING TO STAND: 64.496 TONNES TO WHICH WE ADD OUR NEXT HUGE QUEUE JUMP OF 0.4945 TONNES//NEW STANDING ADVANCES TO 98.538 TONNES//
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 48 MONTHS 2021-2024
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022: STANDING FOR GOLD/COMEX
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024/STANDING FOR GOLD/COMEX
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
COMEX GOLD TRADING BEGINNING JUNE,. CONTRACT;
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL $3.05)
WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION MONDAY // COMEX SESSION// WITH OUR LOSS IN PRICE , OUR LONG SPECULATORS STILL REMAIN RELENTLESS POURING INTO THE COMEX
OTHER EASTERN CENTRAL BANKS TENDERED FOR PHYSICAL EVERY NIGHT WHICH ALSO EXPLAINS THE HUGE NUMBER OF TONNES OF GOLD THAT STOOD FOR GOLD DURING THESE PAST SEVERAL MONTHS
MONDAY NIGHT//TUESDAY MORNING
THE CROOKS COULD NOT STOP OTHER CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL MONDAY EVENING TUESDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD
ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $3.05
WE HAD 280 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.
NET GAIN ON THE TWO EXCHANGES: 415 CONTRACTS OR 41,500 OZ (1.290 TONNES)
MAY DELIVERY MONTH
JUNE 9
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 3 ENTRIES (all kilobars) a) Out of Brinks 257.208 oz (8 kilobars) b) Out of HSBC 48,226.500 oz (1500 kilobars) c) Out of Loomis: 4726.197 oz (147 kilobars) total withdrawal 53,209.905 oz or 1655 kilobars or 1.655 tonnes |
| Deposit to the Dealer Inventory in oz | 0 ENTRY oz |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER//gold ENTRY:1 ENTRY: 1 (all kilobars) i) Into Brinks: 143,039./799 oz (4449 kilobars) (4.449 tonnes of ficticious gold) xxxxxxxxxxxxxxxx |
| No of oz served (contracts) today | 194 CONTRACTS OR 19,400 OZ 0.6034 TONNES OF GOLD |
| No of oz to be served (notices) | 2695 Contracts 269,500 OZ 8.382 TONNES |
| Total monthly oz gold served (contracts) so far this month | 28,985 notices 2,898,500 oz 90.155 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month |
dealer deposits: 0
DEPOSITS/CUSTOMER
ENTRY: 1 (all kilobars)
i) Into Brinks: 143,039./799 oz
(4449 kilobars)
(4.449 tonnes of ficticious gold)
xxxxxxxxxxxxxxxxxx
comex withdrawal
3 ENTRIES (all kilobars)
a) Out of Brinks 257.208 oz (8 kilobars)
b) Out of HSBC 48,226.500 oz (1500 kilobars)
c) Out of Loomis: 4726.197 oz (147 kilobars)
total withdrawal 53,209.905 oz or 1655 kilobars or 1.655 tonnes
adjustments: 4//
a) BRINKS 12,080.678 OZ (DEALER TO CUSTOMER)
b) MANFRA: 289.354 OZ (DEALER TO CUSTOMER)
c) Stonex: 4102.47 oz (DEALER TO CUSTOMER
d) DELAWARE 999.,12OZ (CUSTOMER DEAOLER
COMEX IS DRAINING GOLD
chaos inside the comex
THE FRONT MONTH OF JUNE OI STANDS AT 2889 CONTRACTS HAVING A LOSS OF 704 CONTRACTS.
WE HAD 863 CONTRACTS SERVED ON MONDAY, SO WE GAINED A STRONG 159 CONTRACTS OR 15,900 OZ. (0.4945 TONNES) EXERCISED A QUEUE JUMP WHERE THEY WILL TAKE PHYSICAL GOLD ON THIS SIDE OF THE POND. THIS IS NO DOUBT CENTRAL BANKS STANDING FOR PHYSICAL GOLD.
JULY GAINED 6 CONTRACTS UP TO 3175 CONTRACTS.
AUGUST LOST 2765 CONTRACTS DOWN TO AN OI OF 262,389
.
We had 194 contracts filed for today representing 19,400oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 194 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 17 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for JUNE. /2026. contract month, we take the total number of notices filed so far for the month (28,985) to which we add the difference between the open interest for the front month of JUNE(2889 CONTRACTS) minus the number of notices served upon today 194 x 100 oz per contract) equals 3,168,000 OZ OR (98.538Tonnes of gold)
THUS: INITIAL total number of gold ounces standing for JUNE. /2026. contract month, we take the total number of notices filed so far for the month (28,985) to which we add the difference between the open interest for the front month of JUNE( 2889 CONTRACTS) minus the number of notices served upon today 194 x 100 oz per contract) equals 3,168,000 OZ OR (98.538Tonnes of gold)
new total of gold standing in JUNE becomes 98.538 TONNES//
TOTAL COMEX GOLD STANDING FOR JUNE 98.538 TONNES TONNES WHICH IS NOW REALLY HUGE FOR THIS ACTIVE DELIVERY MONTH OF JUNE.
confirmed volume MONDAY confirmed 156.016// extremely poor// many have left the arena
COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 1,866,265.220 oz 58.04 tonnes pledged gold lowers
total inventories in gold declining rapidly
total pledged gold: 1,866,265.220 tonnes oz 58.04 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 28,304,230.113oz
TOTAL REGISTERED GOLD 15,143,042.580 tonnes (471.012 tonnes)
TOTAL OF ALL ELIGIBLE GOLD 12,080,678.09oz//eligible gold leaving hand over fist
REGISTERED GOLD THAT CAN BE SERVED UPON 13,276,777oz ((REG GOLD- PLEDGED GOLD)=
412.9635 Tonnes //
total inventories in gold declining rapidly
SILVER COMEX
JUNE DELIVERY MONTH
JUNE 9
JUNE DELIVERY MONTH
UNE DELIVERY MONTH
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | one entries i) out of CNT 51,849.,05 oz total withdrawal: 51,849.05 oz |
| Deposits to the Dealer Inventory | 0 entries |
| Deposits to the Customer Inventory | DEPOSIT ENTRIES/CUSTOMER ACCOUNT DEPOSIT ENTRIES/CUSTOMER ACCOUNT 2 entries ENTRY:2 i) Into Brinks 600,032.370 oz ii) Into Delaware: 2001.800 oz total deposit 602,034.170 oz |
| No of oz served today (contracts) | 1 CONTRACT(S) (5,000 OZ) |
| No of oz to be served (notices) | 225 Contract (1.125 MILLIONoz) |
| Total monthly oz silver served (contracts) | 2110 contracts 10.550 MILLION oz |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
DEPOSITS INTO DEALER ACCOUNTS
0 entries
DEPOSIT ENTRIES/CUSTOMER ACCOUNT
ENTRY:2
i) Into Brinks 600,032.370 oz
ii) Into Delaware: 2001.800 oz
total deposit 602,034.170 oz
xxxxxxxxxxxxxxxxxxxxxxxxx
withdrawals: customer side/eligible
1 entry
i) out of CNT 51,849.,05 oz
total withdrawal: 51,849.05 oz
adjustments dealer to customer Delaware’
0 entry
xxxxxxxxxxxxxx
TOTAL REGISTERED SILVER: 84.926 MILLION OZ//.TOTAL REG + ELIGIBLE. 319.359 Million oz
registered silver dropping in numbers
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE
silver open interest data:
FRONT MONTH OF JUNE /2026 OI: 226 OPEN INTEREST CONTRACTS FOR A LOSS OF 23 CONTRACTS.
WE HAD 25 NOTICES SERVED ON MONDAY SO WE GAINED 2 CONTRACTS OR AN ADDITIONAL 10,000 OZ WILL STAND AS A QUEUE JUMP AT THE SILVER COMEX.
JULY SAW A LOSS OF 4381 CONTRACTS DOWN TO 58,216 CONTRACTS.
AUGUST SAW A LOSS 0F 18 CONTRACTS DOWN TO 723…
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 1 or 5,000 oz
CONFIRMED volume MONDAY; 75,036// strong volume
XXX
AND NOW JUNE. DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in JUNE. we take the total number of notices filed for the month so far at 2110 X5,000 oz = 10.550 MILLION oz
to which we add the difference between the open interest for the front month of JUNE( 226) AND the number of notices served upon today (1 )x (5000 oz)
Thus the standings for silver for the JUNE 2026 contract month: (2110 )Notices served so far) x 5000 oz + OI for the front month of JUNE ( 226) minus number of notices served upon today (1)x 5000 oz equals silver standing for the JUNE..contract month equating to 11.675 MILLION OZ.+
We must also keep in mind that there is considerable silver standing in London coming from our longs
There are ONLY 84.923 million oz of registered silver
JPMorgan as a percentage of total silver: 140.287/319.359 million: 43.93
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42.
The previous record was 224,540 contracts with the price at that time of $20.44.
BOTH GLD AND SLV ARE MASSIVE FRAUD
JUNE 9 /2026/WITH GOLD DOWN $75.60 TODAY/NO CHANGES IN GOLD AT THE GLD:// ./ //:/INVENTORY RESTS AT 1019.921 TONNES
JUNE 8 /2026/WITH GOLD DOWN $3.05 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 6.936 TONNES OF GOLD FROM THE GLD// ./ //:/INVENTORY RESTS AT 1019.921 TONNES
JUNE 5 /2026/WITH GOLD DOWN $134;85 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1026.857 TONNES
JUNE 4 /2026/WITH GOLD UP $39.25 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.143 TONNES OF GOLD FROM THE GLD// ./ //:/INVENTORY RESTS AT 1026.857 TONNES
JUNE 3 /2026/WITH GOLD DOWN $51.80 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 0.856 TONNES OF GOLD FROM THE GLD// ./ //:/INVENTORY RESTS AT 1028.000 TONNES
JUNE 2 /2026/WITH GOLD UP $7.45 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.712 TONNES OF GOLD FROM THE GLD// ./ //:/INVENTORY RESTS AT 1028.856 TONNES
JUNE 1 /2026/WITH GOLD DOWN $79.30 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1032.568 TONNES
MAY 29 /2026/WITH GOLD UP $59.20 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.285 TONNES OF GOLD FROM THE GLD ./ //:/INVENTORY RESTS AT 1032.568 TONNES
MAY 28 /2026/WITH GOLD UP $52.00 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1034.853 TONNES
MAY 27 /2026/WITH GOLD DOWN $51.00 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1034.853 TONNES
MAY 26 /2026/WITH GOLD DOWN $25.45 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.9988 TONNES OUT OF THE GLD ./ //:/INVENTORY RESTS AT 1034.853 TONNES
MAY 22 /2026/WITH GOLD DOWN $13.45 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1036.851 TONNES
MAY 21 /2026/WITH GOLD UP $7.60 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1036.851 TONNES
GLD INVENTORY: 1019.921 TONNES, TONIGHTS TOTAL GOLD INVENTORY
SILVER
JUNE 9 WITH SILVER DOWN $3.35: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.407 MILLION OZ INTO INTO THE SLV /./ // :INVENTORY RESTS AT 484.287 MILLION OZ
JUNE 8 WITH SILVER DOWN $0.52: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 543,000 OZ FROM THE SLV /./ // :INVENTORY RESTS AT 482.880 MILLION OZ
JUNE 5 WITH SILVER DOWN $4.86: NO CHANGES IN SILVER INVENTORY AT THE SLV /./ // :INVENTORY RESTS AT 483.423 MILLION OZ
JUNE 4 WITH SILVER UP $0.52: HUGE CHANGES IN SILVER INVENTORY AT THE SLV >> A WITHDRAWAL OF 1.432 MILLION OZ FROM THE SLV/./ // :INVENTORY RESTS AT 483.423 MILLION OZ
JUNE 3 WITH SILVER DOWN $2.55: NO CHANGES IN SILVER INVENTORY AT THE SLV >> /./ // :INVENTORY RESTS AT 483.423 MILLION OZ
JUNE 2 WITH SILVER UP $0.25: HUGE CHANGES IN SILVER INVENTORY AT THE SLV >> A WITHDRAWAL OF 1.2222 MILLION OZ FROM THE SLV/./ // :INVENTORY RESTS AT 484.855 MILLION OZ
JUNE 1 WITH SILVER DOWN $0.52: HUGE CHANGES IN SILVER INVENTORY AT THE SLVA WITHDRAWAL OF 1.9 MILLION OZ FORM THE SLV/./ // :INVENTORY RESTS AT 486.077 MILLION OZ
MAY 29 WITH SILVER DOWN $0.03: NO CHANGES IN SILVER INVENTORY AT THE SLV/ // :INVENTORY RESTS AT 487.977 MILLION OZ
MAY 28 WITH SILVER UP $1.02: NO CHANGES IN SILVER INVENTORY AT THE SLV/ // :INVENTORY RESTS AT 487.977 MILLION OZ
MAY 27 WITH SILVER DOWN $1.61: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.176 MILLION OZ OUT OF THE SLV/ // :INVENTORY RESTS AT 487.977 MILLION OZ
MAY 26 WITH SILVER DOWN $0.14: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.131 OF 0.315 MILLION OZ INTO THE SLV/ // :INVENTORY RESTS AT 489.153 MILLION OZ
MAY 22 WITH SILVER DOWN $0.26: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 0.315 MILLION OZ FROM THE SLV/ // :INVENTORY RESTS AT 488.022 MILLION OZ
MAY 21 WITH SILVER UP $0.64: NO CHANGES IN SILVER INVENTORY AT THE SLV:/ // :INVENTORY RESTS AT 488.338 MILLION OZ
CLOSING INVENTORY 484.287MILLION OZ OF SILVER
GOLD COMMENTARIES:
1.PETER SCHIFF
2. MATHEW PIEPENBERG/EGON VON GREYERZ
ALASDAIR MACLEOD..
3. CHRIS POWELL AND HIS GATA DISPATCHES
China’s PBOC adds gold again as bullion remains under pressure
Submitted by admin on Sun, 2026-06-07 09:24 Section: Daily Dispatches
By Jessica Zhou
Bloomberg News
Saturday, June 6, 2026
China’s central bank extended its gold-buying streak in May, adding to holdings as prices of the precious metal remained under pressure.
Bullion held by the People’s Bank of China rose by 320,000 troy ounces last month, according to data released today. The latest addition extended its buying streak to 19 months, the longest since at least 2015, when the PBOC began publishing more regular updates on its gold reserve
Gold edged lower in May, marking a third consecutive monthly decline after it hit a record in late January. Persistent inflation concerns and expectations for higher-for-longer interest rates triggered by the war in the Middle East have weighed on the appeal of non-yielding assets. …
… For the remainder of the report:
END
Joseph Solis-Mullen: Sound money and the myth of militarism
Submitted by admin on Fri, 2026-06-05 16:43 Section: Daily Dispatches
By Joseph Solis-Mullen
MoneyMetals.com, Eagle, Idaho
Friday, June 5, 2026
One of the most common mistaken arguments against a return to sound money is that the dollar’s international dominance supposedly depends upon American military supremacy.
According to this view, the United States cannot seriously consider restoring monetary discipline — whether through embracing the classical gold standard or gold convertibility, anything that would put a limit on monetary expansion — because the dollar’s role as the global reserve currency ultimately rests upon Washington’s ability to project overwhelming force abroad. Aircraft carriers, overseas bases, and the Pentagon’s vast security architecture, we are told, are what truly “back” the dollar.
The implication is clear enough: If the United States were to retreat from perpetual military supremacy or return to a genuinely sound monetary standard, the dollar would lose its privileged position in global trade and finance.
Yet historically this argument holds little water as examples to the contrary abound. …
… For the remainder of the commentary:
*END
Indian owner of Swiss gold refiner Valcambi investigated over $159 billion of inflated revenue
Submitted by admin on Thu, 2026-06-04 20:43 Section: Daily Dispatches
By Ashutosh Joshi
Bloomberg News
Thursday, June 4, 2026
India’s markets regulator has alleged that the owner of Swiss gold refiner Valcambi SA overstated revenue, according to an interim order issued today.
Mumbai-listed Rajesh Exports Ltd. misrepresented about 15.2 trillion rupees ($159 billion) — equaling 99.80% of its revenues from subsidiaries over the five fiscal years through March 2025, the Securities and Exchange Board of India said in its order and asked the company to make “true and fair” disclosures in its financial statements and other filings.
… Dispatch continues below …
Shares of the company, valued at about $321 million, hit their 5% daily lower limit today and have lost more than 40% this year.
The regulator also barred Rajesh Mehta, the company’s majority shareholder and chairman, from trading in the company’s stock until further notice, saying the revenue figures allowed the company to present an “inflated and misleading picture of its scale, financial position, and health.” …
… For the remainder of the report:
END
Robert Lambourne: BIS gold swaps soared in March before dropping in April
Submitted by admin on Thu, 2026-06-04 13:41 Section: Daily Dispatches
By Robert Lambourne
Thursday, June 4, 2026
Gold swaps undertaken by the Bank for International Settlements on behalf of its member central banks are estimated to have increased strongly in March, up 77 tonnes, rising from 104 tonnes to 181 tonnes, before falling by 47 tonnes to 134 tonnes in April.
This is still a notable increase from the swaps estimated at the end of last year, 56 tonnes.
… Dispatch continues below …
The swaps total can be estimated from the bank’s monthly statements of account, with the March and April statements being published simultaneously this week:
https://www.bis.org/banking/balsheet/statofacc260331.pdf
https://www.bis.org/banking/balsheet/statofacc260430.pdf
The BIS’ gold swaps are the strongest contemporary proof of regular interventions in the gold market by central banks, interventions for which the BIS long has provided camouflage, even as many central bank members of the bank seem to have defected in recent years from the longstanding Western government policy of gold price suppression.
The volume of swaps has recovered strongly in the last 12 months after a period of subdued levels.
BIS gold swaps peaked at an estimated 594 tonnes in November 2017.
The BIS has actually advertised to potential central bank members that its services include surreptitious interventions in the gold and currency markets:
Gold involved in BIS swaps is believed held by a commercial bullion bank — probably as a custodian of a gold exchange-traded fund — and is swapped for dollars via the BIS, probably on behalf of the U.S. Federal Reserve, which then can apply the gold in the markets as necessary to influence prices.
The steady decline in BIS gold swaps in recent years may correlate with bullion bank JPMorganChase’s having become co-custodian of the gold attributed to the major gold exchange-traded fund, GLD, and gaining access to that gold for intervention, whether for its own purposes or the U.S. government’s if the bank functions as a broker in gold for the government, as it historically has done for other governments:
https://gata.org/node/22108
https://www.gata.org/node/22132
Since ordinary shareholders of GLD cannot redeem their shares for actual metal — a right restricted to the big bullion bank “authorized participants” associated with the fund — it may be relatively easy for JPMorganChase and other bullion banks to juggle claims to GLD gold that add up to more metal than the ETF actually has, thereby perpetuating the gross “rehypothecation” of gold in various markets.
Only in its annual report has the BIS explicitly reported its gold swap total. Those reports have always confirmed this analyst’s monthly estimates and the bank has never disputed them.
Here are the BIS’ estimated gold swap tonnage totals since December 2024:
Apr 2026: 134
Mar 2026: 181
Feb 2026: 104
Jan 2026: 106
Dec 2025: 56
Nov 2025: 39
Oct 2025: 54
Sep 2025: 54
Aug 2025: 30
Jul 2025: 34
Jun 2025: 34
May 2025: 32
Apr 2025: 5
Mar 2025: 10
Feb 2025: 22
Jan 2025: 16
Dec 2024: 78
—-
Robert Lambourne is a retired business executive in the United Kingdom who consults for GATA about the Bank for International Settlements and U.S. government debt.
* * *
Support GATA by purchasing
Stuart Englert’s “Rigged”
“Rigged” is a concise explanation of government’s currency market rigging policy and extensively credits GATA’s work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
END
India’s central bank denies Bloomberg report it sold gold
Submitted by admin on Wed, 2026-06-03 08:56 Section: Daily Dispatches
By Anup Roy
Wednesday, June 3, 2026
India’s central bank said a report that it’s selling gold is “not correct,” pointing to data showing its physical stock of gold has remained unchanged.
Latest figures in the Reserve Bank of India’s Monthly Bulletin show the stock of physical gold was steady at 880.52 metric tons during April. The stock was at that level “as on date,” the central bank said in a statement today.
4.ANDREW MAGUIRE LIVE FROM THE VAULT 275 and 274
5. COMMODITY REPORT//COPPER
Jefferies: “Turns Out, We Weren’t Bullish Enough On Copper”
Tuesday, Jun 09, 2026 – 12:00 PM
“Turns out, we weren’t bullish enough on copper,” Jefferies analyst Christopher LaFemina wrote in a note to clients, marking a notable shift from one of Wall Street’s most seasoned metal voices. LaFemina joined Jefferies in 2011 after more than a decade covering metals and mining at Lehman Brothers and Barclays, lending weight to his view that the explosive growth in AI data center buildouts, power grid and infrastructure upgrades (a theme he calls “powering up America”), and tight supply are creating structurally higher prices for copper.
LaFemina raised his 2030 target and now expects copper to average $8 per pound, or $17,636 a ton. COMEX copper last traded around $6.34 a pound, while LME copper was near $13,583 a ton.
On a longer timeframe, the LME copper chart suggests the $10,000 level was the breakout zone, further supporting LaFemina’s 2030 target given the current supply-tightening backdrop.
“Turns out, we weren’t bullish enough on copper,” LaFemina said, adding, “We now have the highest copper price forecast on the Street as we see strong US industrial demand and still tight supply.”
He noted that the data center and power infrastructure buildout should drive a meaningful acceleration in metals demand, with copper and aluminum prices able to rise much higher before weighing on the broader economy.
Goldman recently estimated that AI capital expenditures by hyperscalers will soar to $800 billion this year. The report can be found here.
In recent weeks, Goldman raised its year-end copper price target, and HSBC warned (report found here) that commodities face a “super-squeeze.”
HSBC analysts told clients last week that “metal prices are generally in an upswing, driven by supply disruptions for some commodities due to the Middle East conflict and strong structural demand.”
Separately, Goldman analysts led by Aurelia Waltham explained that one of the core issues with the copper market right now is supply:
- Year-to-date data does suggest that supply recovery from previous disruption events has trailed our expectations. Accordingly, we lower our 2026 global mine supply forecast by 350kt, equivalent to ~1.5% of global mine supply, including ~200kt less from Grasberg (Indonesia) and Kamoa-Kakula (DRC) combined, with neither returning to full capacity until 2028.
At the same time, Waltham said stronger-than-expected U.S. copper imports in the first half of 2026 are tightening the ex-U.S. market:
- Furthermore, US copper imports in H1 2026 have exceeded our previous forecast, tightening the ex-US balance. As a result, we now expect US inventory to build by 900kt in 2026 (vs. 550kt previously), even as our base case remains that no copper tariff will be announced this year.
The combination of soft mine supply, U.S. stockpiling, tariff uncertainty, and long-term demand tied to AI buildout and grid-upgrade themes prompted Waltham to upgrade her end-of-year 2026 and 2027 copper price forecasts:
- We raise our end-2026/average 2027 LME copper forecasts to $13,735/$13,800 from $12,465/$12,150 previously (vs. forwards at $13,630/$13,610).
She outlined three price scenarios for copper:
1. Strait of Hormuz Remains Closed for Longer: While we would expect limited impact on the global copper balance as the demand hit from lower economic growth is largely offset by lower copper supply due to sulfur shortages, a substantial pullback in global risk appetite could push the LME price down to its fundamental support level at ~$12,600 in H2 2026, before resuming an upward trend.
2. US Copper Tariff Announced for January 2027: If a US copper tariff is announced prospectively in June 2026, to start in January 2027, we would expect US copper imports to accelerate in H2 2026 (vs. our base case of a slowdown in imports), tightening the ex-US balance and raising prices to over $14,000 in H2 2026. However, we would expect prices to retreat in 2027 as imports stop once the tariff is imposed.
3. Announcement of No Copper Tariff: A definitive decision against the tariff would reduce the size of our ex-US deficit forecast in 2026 and push the ex-US market back into surplus in 2027 as imports fall to a negligible level. In this scenario, we would expect the price to fall to an average of $12,800/t in 2027.
View scenarios here:
Beyond Jefferies, HSBC, and Goldman, JPMorgan analysts have also told clients that the copper upcycle is being driven by a tightening supply backdrop, accelerating power-grid investment, AI data center demand, and broader industrial electrification. Taken together, some of Wall Street’s top metals desks are increasingly converging on the view that copper is entering a structurally tighter supply regime that will support a sustained break above $14,000 a ton on the LME.
END
COMMODITY: FERTILIZER
U.S. Fertilizer Prices Erase War Spike, But El Nino Keeps Food Inflation Risk Elevated
Tuesday, Jun 09, 2026 – 02:00 PM
The good news for US farmers is that urea fertilizer prices have returned to pre-US-Iran conflict levels after spiking from late February through mid-April. This is great news for farmers, though they are not out of the woods, as drought continues to plague some of the nation’s top agricultural belts.
Prices for granular urea in New Orleans have slumped 36% since peaking at $710 per short ton in mid-April. Spot prices are currently $453, back to pre-conflict levels.
Bloomberg Intelligence analysts noted that a combination of oversupply and weak demand is pressuring US urea spot prices, which have fallen below those seen in more import-dependent markets such as Brazil and Egypt. The reversal in nitrogen fertilizer prices benefits farmers while also reducing part of the windfall enjoyed by CF Industries and Nutrien.
Shares of CF Industries and Nutrien are both down about 20%, closely tracking urea spot prices.
Urea was among the crop nutrients most affected by the Gulf-area energy shock, with nearly half of global exports originating in the region. There have been concerns about a global food shortage that could emerge later in the year.
Drought concerns still plague top agricultural belts in the US.
Meanwhile, on the otherside of the world:
One troubling development in food has been the surge in rice prices, with the regional Asian benchmark rising 20% in May, the largest monthly increase since 2008. It is important to closely monitor global food prices.
BRENT JOHNSON; HIS MILKSHAKE THEORY
Brent Johnson updates the Dollar Milkshake Theory
by Monetary Metals
Monday, Jun 08, 2026 – 18:38
Brent Johnson returns to examine the forces he believes continue to underpin dollar dominance, even as confidence in the global monetary system grows more fragile.
In this conversation, he explains why geopolitical tensions, liquidity shortages, and the structure of the eurodollar system remain central to his Dollar Milkshake thesis, while also exploring gold’s role during periods of financial stress.
Johnson argues that the greatest risks may emerge from a strengthening dollar rather than a weakening one, and discusses why the current system could persist far longer than many investors expect.
Watch the episode now.
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM
SHANGHAI CLOSED UP 50.69 PTS OR 1,28%
HANG SENG CLOSED DOWN 91.16 PTS OR 0.37%
Nikkei CLOSED UP 1,226.40 PTS OR 1.92%
//Australia’s all ordinaries CLOSED UP 1.37%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.7719
/ OFFSHORE CLOSED UP AT 6.7725 Oil DOWN TO 89.36 dollars per barrel for WTI and BRENT DOWN TO 92.58 Stocks in Europe OPENED ALL MOSTLY GREEN
ONSHORE USA/ YUAN// WITH YUAN TRADING UP (6.7719) OFFSHORE YUAN TRADING UP TO 6.7725 ONSHORE YUAN TRADING ABOVE LEVEL OF OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER/OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP 6.7719
OFFSHORE YUAN: UP TO 6.7725
1.HANG SANG CLOSED DOWN 91.16 PTS OR 0.37%
2. Nikkei closed UP 1226.40 PTS OR 1.92%
WEST TEXAS INTERMEDIATE OIL DOWN TO 89.36
BRENT; 92.58
3. Europe stocks SO FAR: ALL MOSTLY GREEN
USA dollar INDEX DOWN TO 99.77/// EURO RISES TO 1.1563 UP 34 BASIS PTS
3b Japan 10 YR bond yield:FALLS TO. +2.671 DWN 5 FULL BASIS PTS/ VERY TROUBLESOME//Japan buying 100% of bond issuance)/Japanese YEN vs USA CROSS NOW AT 160.19… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE ENDING OF THE YEN CARRY TRADE AGAIN AND THE REPATRIATION OF YEN DENOMINATED BONDS TRADING IN THE USA/EUROPE. JAPAN 30 YR BOND YIELD: 3.866 DOWN 7 FULL BASIS PTS
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: UP( 6.7719 AND OFFSHORE: UP AT 6.7725
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and BRENT DOWN this morning
3h European bond buying continues to push yields HIGHER on all fronts in the EMU. German 10yr bund YIELD UP TO +3.0627// Italian 10 Yr bond yield UP to 3.832// SPAIN 10 YR BOND YIELD UP TO 3.502%
3i Greek 10 year bond yield UP TO 3.866%
3j Gold at $4338.75 //Silver at: 68.51 1 am est) SILVER NEXT RESISTANCE LEVEL AT $100.00
3k USA vs Russian rouble;// Russian rouble UP 1 AND 31/ 100 roubles/71.66
3m oil (WTI) into the 89 dollar handle for WTI and 92 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 160.19 // 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 2.671% DOWN 4 BASIS PTS STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE NOW UNWINDING//YEN BOND TRADING OVERSEAS REPATRIATED.//JAPAN 30 YR: 3.866 DOWN 7 PTS..: USA/SF this 0.7962 as the Swiss Franc . Euro vs SF: 0.9207
USA 10 YR BOND YIELD: 4.560 UP 1 BASIS PTS…
USA 30 YR BOND YIELD: 5.036 UP 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.152 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 46.12 UP 2 BASIS PTS/LIRA GETTING KILLED//IDIOTS FOR SELLING GOLD AND USA DOLLAR RESERVES.
10 YR UK BOND YIELD: 4.9390 DEOWN 1 PTS
30 YR UK BOND YIELD: 5.624 DOWN 1 BASIS PTS
10 YR CANADA BOND YIELD: 3.5110 DOWN 2 BASIS PTS
5 YR CANADA BOND YIELD: 3.168 DOWN 2 BASIS PTS.
Futures Rise As Tech Rebound Extends While Oil Drops
Tuesday, Jun 09, 2026 – 08:38 AM
US equity futures are higher as Monday’s US stock gains extend into today’s trading with both tech and small caps outperforming as the AI theme resumes its global surge and US/Iran deal optimism is back (on the back of the now daily optimistic comments from Trump) broadening the rally. As of 8:00am ET, tech enthusiasm is on display with Nasdaq 100 futures up 0.8% as chipmakers including Marvell Technology Inc. and Micron Technology Inc. posted strong premarket gains, while S&P500 futures gain 0.4%. In premarket trading, Mag7 names are mostly higher; cyclicals ex-energy are leading defensives ex-HC. A similar theme played out in APAC, with the tech-laden Kospi soaring 8.2%. Europe’s Stoxx 600 is rising alongside weaker energy prices with gains driven by financials and consumer names. Oil dipped after Trump said a framework of deal “within the next 2 days,” though it is unclear what has changed from previous claims over the last 2 months. Commodities are reacting to headline risk with Brent down 2.1% as Israel and Iran halt attacks and Chinese oil imports declined, and WTI below $90/bbl. The downside in energy prices has provided a mild support for global fixed income markets, with US yields 1-2bps lower across the curve ahead of the US 3-year note auction. The Bloomberg Dollar Spot index is down 0.2%. Downside in USD/JPY from a report that the BOJ could hike in June and October proved fleeting. Precious metals are steady. Bitcoin sheds 1.3%. The macro data focus will be on weekly ADP, the NFIB Small Biz Survey where the Hiring sub-index may give add’l evidence for the labor market acceleration. Keep an eye on the 3Y bond auction today
In premarket trading, Mag 7 stocks are mostly higher (Nvidia +0.4%, Amazon +0.6%, Meta +1.1%, Alphabet +0.6%, Tesla +0.6%, Apple -0.4%, Microsoft -0.3%).
- Chipmakers, opticals and storage firms rise, on track to extend gains, as the group rebounds in the wake of Friday’s sharp selloff.
- Lithium stocks rise as Citi remains bullish on the metal, seeing a recovery in prices after the recent selloff.
- Applied Digital (APLD) is up 11% after the neocloud company said it signed a 15-year take-or-pay lease with a US-based artificial intelligence hyperscaler, for 210 megawatts of critical IT load at its Delta Forge 2 campus.
- CECO Environmental Corp. (CECO) gains 13% as the manufacturer of water treatment equipment updated its full year outlook after closing Thermon Group Holdings acquisition.
- GDS Holdings ADRS (GDS) rise along with other Chinese cloud providers as people familiar with the matter said that China is preparing to spend around $295 billion over the next five years to build data centers across the country.
- Mission Produce (AVO) falls 2% after the avocado supplier reported adjusted earnings per share for the second quarter that missed the average analyst estimate.
- Nuvalent (NUVL) is up 39% after GSK agreed to acquire the company for $10.6 billion. The transaction will accelerate GSK’s entry into the lung cancer space and could help offset the looming patent expiry of its HIV drug dolutegravir, Barclays analyst James Gordon wrote in a note.
- Perrigo (PRGO) slips 1% after the company’s CEO Patrick Lockwood-Taylor resigned from both roles and from the board, following a determination that certain personal conduct was inconsistent with the company’s code of conduct and core values.
- SailPoint (SAIL) falls 13% after the software company’s quarterly results and outlook isn’t enough to extend recent strength in the stock, which is up nearly 70% off an April low as of last close.
- Vail Resorts (MTN) is down 4% after the ski resort operator cut its net income guidance for the full year, attributing the reduction to “historically challenging” weather conditions in the western US.
In other corporate news, executives overseeing Oatly’s Chinese operations are said to be considering buying out the business. Apple’s iOS 27 and related software updates offer signs the of the company’s upcoming foldable iPhone. GSK agreed to buy clinical-stage biopharmaceutical company Nuvalent in a deal valued at $10.6 billion to expand in oncology treatments.
After a brief pause in the rally that propelled equities to record highs, traders are returning on expectations that corporate profits will give stocks further room to run. OpenAI’s confidential filing for an initial public offering and the oversubscription of SpaceX’s share sale served as reminders of the vast demand for AI – before attention turns to Wednesday’s CPI print. Overnight sentiment was also boosted from lower energy costs, with Brent sliding 1.5% to below $93 a barrel. Israel and Iran agreed to end their tit-for-tat attacks, while President Donald Trump renewed his claims that a US peace deal with Tehran was nearly done.
From SpaceX’s IPO being oversubscribed ahead of books closing late Wednesday, to OpenAI filing confidentially for an IPO and said to be planning a tender sale of its shares to provide liquidity to employees, “there’s a real race for capital that’s going on,” notes CPR Asset Management’s Julien Daire, perhaps to get ahead of the moment of realization that much of this SPV chip-backed rollout is funded by American retirees putting their money in “safe” annuities.
Meanwhile in China, the country plans to spend around $295 billion to fund a nationwide AI buildout of data centers, signaling its ambition to propel the domestic AI sector and rely on local suppliers for at least 80% of technology such as AI chips.
And speaking of China, the AI supercycle showed up in macro data overnight as well, with Beijing’s export sales of semiconductors soaring 111% year-on-year in May, the fastest expansion since 2013. Elsewhere, the massive PJM power grid region is expected to see a 26-fold increase in energy storage over the next decade on the back of data-center driven load growth and lagging supply strain reliability and affordability.
There are red flags: bond-yield levels don’t look encouraging for stocks, but it will likely take greater rate volatility to trigger another leg lower, according to Bloomberg Senior Strategist Michael Msika. Risks are mounting into a tricky June, but portfolio rotation seems to be the preferred approach, rather than cutting exposure altogether. The bond market is running ahead of the Fed policy rate, with a clear message for Kevin Warsh that rates need to be higher, and prompted Citi to lower its short-term price target for gold.
While AI “has driven a strong rally so far, it also carries a high risk of pullbacks, which are bound to occur given the dynamic nature of the sector’s development,” said Guillermo Hernandez Sampere, head of trading at MPPM.
Warnings that a push higher in stocks could prove choppy still abound. Citigroup Inc. strategists said traders are aggressively building short-selling positions in US equities, while bullish wagers on the tech sector remained stretched. Friday’s near 5% selloff in the Nasdaq 100 has only partially reset exposure among investors, the Citi team led by David Chew noted.
The next few weeks hold major risk events, with inflation data due Wednesday and the first Federal Reserve interest-rate decision under Chairman Kevin Warsh on June 17.
“If inflationary risks continue to rise, a more aggressive repricing of the Fed could easily challenge current valuations and derail equity markets,” said Wolf von Rotberg, equity strategist at Bank J Safra Sarasin.
In politics, the race for California governor is on track for a two-person runoff in November between veteran Democratic politician Xavier Becerra and Republican Steve Hilton, a British-born television personality endorsed by President Trump. The Pentagon has accused some of China’s biggest companies of supporting the Chinese military, including Alibaba, Baidu and BYD.
In Europe, the Stoxx 600 is rising alongside weaker energy prices with gains driven by financials and consumer names. Health care stocks were dragged lower by GSK, which shed as much as 3.9% after announcing it would acquire US firm Nuvalent for $10.6 billion. The energy subindex was the biggest laggard as Brent crude dropped below $93 a barrel. Here are the biggest movers Tuesday:
- Demant advances as much as 5%, to the highest since August 2025, after a BofA double-upgrade to buy removes the only negative analyst rating on the hearing aids manufacturer
- Givaudan rises as much as 5.9%, the most in almost two months and taking the stock to the highest since late February, as Deutsche Bank upgrades the Swiss fragrance and flavor maker to buy and JPMorgan adds a positive catalyst watch
- WPP leads European advertising firms higher after Berenberg said the sector is poised for a rerating because investors have overestimated the threat posed by artificial intelligence. Analysts initiated coverage of WPP, Publicis Groupe and Havas with buy ratings
- Seraphim Space Investment Trust shares rise as much as 26%, their biggest jump in almost three years, after the fund said the fair value of Iceye, its largest holding, had doubled after a funding round
- Breedon Group shares gain as much as 6.6%, the largest intra-day rise in two months, after the building materials supplier announced the $120 million acquisition of a limestone quarry near Missouri
- Fever-Tree shares rise as much 8.2% to the highest in a month after the company said it was on track to meet expectations and extended its buyback program
- El.En. shares climb as much as 6.3% to the highest since November 2021, after Stifel initiated the laser equipment firm with a buy rating, predicting profits to more than double over the next five years
- GSK shares slip as much as 3.9% as Barclays analysts noted the British drugmaker will gain access to two experimental medicines in late-stage trials through its planned purchase of Nuvalent, but that upside is capped
- K+S shares fall as much as 5.6% to their lowest since January as the German agricultural chemicals firm launches an offering of convertible bonds worth around €300 million to finance the previously-announced purchase of Qemetica’s salt business
- Trigano shares drop as much as 7.5%, the most in over nine months, after analysts at Oddo BHF cut their price target on the maker of recreational vehicles and removed it from their list of top picks within the European mid-cap space
- Rusta falls as much as 7.7% after the Swedish discount retailer reported its latest earnings. DNB Carnegie says the print shows a weaker-than-expected end to 2025/2026, with added headwinds from “very tough” comparables
Asian stocks rose, as bargain hunters dipped back in to buy technology stocks after a sharp selloff. The MSCI Asia Pacific Index climbed as much as 2.8%, on track to snap a three-day losing streak. The information technology sector led gains among sub-indexes, with SK Hynix and Samsung Electronics contributing the most to the advance. South Korea and Indonesia led the region’s rebound, just a day after ranking among the worst performers. The rally follows a steep pullback triggered by concerns over overheating in artificial intelligence stocks. While broader concerns about the sector’s momentum remain, the recent drop has made valuations more appealing and steady earnings are helping to support sentiment. Easing tensions in the Middle East added to the positive tone, after Iran and Israel agreed to scale back strikes following a flare-up that had threatened to derail peace efforts and drew calls for de-escalation from President Donald Trump.
In FX, the dollar headed for its biggest two-day retreat in a month. Indonesia’s central bank raised its benchmark rate ahead of its next scheduled meeting to reverse a market selloff and support the rupiah.
In rates, treasuries rose modestly as traders dialed back bets on US interest-rate hikes, led by short-dated notes as oil continued its decline after Israel and Iran agreed to stop attacks, following a flare-up in violence. US yields are richer by up to 2.5bp across front end of the curve with long end richer by around 1bp, steepening 2s10s and 5s30s spreads by 1bp and 1.5bp vs. Monday close. US 10-year yields trade around 4.545%, down 1.5bp on the day with bunds lagging by 1.5bp in the sector, gilts slightly outperforming. Bull steepening move comes ahead of this week’s first Treasury auction of $58 billion 3-year notes at 1pm New York. Treasury auction cycle resumes at 1pm New York with $58 billion 3-year notes, before $39 billion 10-year and $22 billion 30-year reopenings Wednesday and Thursday. The WI 3-year trading around 4.205% is 24bp cheaper than the May stop-out, which tailed the WI by 0.6bp.
In commodities, Brent has continued to slip, down 2.1% as Israel and Iran halt attacks and Chinese oil imports declined. Bitcoin sheds 1.3%. Precious metals are steady. Gold held steady near $4,340 an ounce. The appeal of the precious metal has steadily faded from a peak above $5,400 in January after the war in the Middle East upended expectations for US monetary policy, shifting bets from rate cuts to possible hikes.
Today’s US economic data calendar includes ADP weekly employment change (8:15am), April trade balance (8:30am), May existing home sales, April wholesale inventories (10am)
Market Snapshot
Top Overnight News
- President Trump asked Prime Minister Benjamin Netanyahu of Israel to pull back from escalating his country’s strikes against Iran during a call on Monday morning, telling the Israeli leader that the United States and Iran were within days of a breakthrough clearing the way for talks on a long-term nuclear deal. NYT
- Trump Says Peace Talks on Track After Israel-Iran Clash Ends: BBG
- USTR Greer said to be heading to Silicon Valley to promote onshoring this week: Semafor
- China’s exports surged last month on demand for AI-related goods as the world’s second-largest economy shook off the impact of energy shortages from the Middle East. Exports expanded 19.4 per cent in May on a year earlier in dollar terms, exceeding expectations. FT
- A sharp fall in China’s oil imports is keeping global prices in check despite a supply crunch lasting more than 100 days due to disruptions in the Strait of Hormuz. China’s int’l oil purchases fell to the lowest level in more than 8 years in May. Nikkei
- The BoJ will consider maintaining the current pace of bond purchases beyond next fiscal year, sources said, pausing a taper process that would mark a turning point in its quantitative tightening (QT) plan. But the decision could be a close call as the nine-member board is seen as split between those who want to focus on soothing investor nerves and others who see the need to steadily slow purchases to reduce the BOJ’s large balance sheet. RTRS
- Japanese policymakers said on Tuesday they stood ready to act decisively against excessive yen falls while remaining vigilant to rising bond yields that could hurt the economy, highlighting the dilemma they faced in countering unfavorable market moves. RTRS
- German industrial production grew for the first time since war broke out in Iran, fueling hope that Europe’s largest economy is weathering the jump in energy costs. Output increased 0.4% in April from the previous month, driven mainly by construction. BBG
- China is preparing to spend around 2 trillion yuan ($295 billion) over the next five years on building data centers across the country, fueling Beijing’s ambition to propel the domestic AI sector and surpass the US in a potentially game-changing technology. BBG
- The $31 trillion Treasury market has an unequivocal message for Kevin Warsh’s Fed: Interest rates aren’t high enough. Yields on two-year notes hovered near their highest level in more than a year. BBG
- An index of US small business optimism fell last month to the lowest level since October 2024, erasing almost all of the gains seen since Trump was elected for a second term. BBG
A more detailed look at global markets courtesy of newsquawk
APAC stocks traded somewhat mixed, albeit with a mostly positive bias as indices rebounded from yesterday’s losses, with sentiment helped by Israel and Iran halting their strikes, while participants also reflected on the better-than-expected Chinese trade data. ASX 200 declined as the prior day’s losses caught up with the index on return from a long weekend. Nikkei 225 fluctuated and briefly wiped out all its opening gains before rebounding to print fresh intraday highs. Hang Seng and Shanghai Comp were mixed with the mainland kept afloat following the stronger-than-expected Chinese trade data, although gains were capped after the US Pentagon posted a list of Chinese military companies, which included Alibaba, Baidu, BYD, Tencent, NIO and Cosco among others.
Top Asian News
- Chinese Balance of Trade (USD)(May) 105.4B vs. Exp. 91.5B (Prev. 84.8B).
- Chinese Exports YY (May) 19.4% vs. Exp. 14.3% (Prev. 14.1%).
- Chinese Imports YY (May) 27.4% vs. Exp. 25% (Prev. 25.3%).
- Taiwan Balance of Trade (May) 17.91B vs. Exp. 15.2B (Prev. 14.35B).
- Taiwan Exports YoY (May) Y/Y 51.7% vs. Exp. 37.9% (Prev. 39%).
- Taiwan Imports YoY (May) Y/Y 54.90% vs. Exp. 37.4% (Prev. 29.2%).
- Australian Westpac Consumer Confidence Index (Jun) 80.6 (Prev. 83).
- Australian Westpac Consumer Confidence Change MM (Jun) -2.9% (Prev. 3.5%).
- Australian NAB Business Confidence (May) -14 (Prev. -24).
- Australian NAB Business Conditions (May) 3 (Prev. 3).
European bourses (STOXX 600 +0.5%) start Tuesday’s trade on a positive footing with geopolitical updates quiet. FTSE MIB (+1.6%) is the clear outperformer helped by gains in Banks, while FTSE 100 (-0.3%) is the only index in the red as miners and healthcare giants fall. European sectors hold a positive bias. Insurance (+1.3%) tops the pile, with Retail (+1.0%) and Banks (+1.2%) rounding out the top 3. To the downside are Basic Resources (-0.3%), Health Care (-0.5%) and Energy (-0.4%).
Top European News
- CBI warned around 200k more Britons are on track to become unemployed, with unemployment forecast to rise to 5.5% this year, while it cut UK GDP growth forecasts to 1.1% in 2026 and 0.9% in 2027 from prior expectations of 1.3% and 1.5%, respectively.
- No breakthrough in discussions on finalising the Defence Investment Plan on Monday but it could still come this week, POLITICO reported citing sources.
FX
- G10s are nearly entirely firmer against a modestly softer Buck, which remains towards recent post-NFP highs. Kiwi and sterling outperform, NOK is the laggard with Brent Aug’26 -1.5%.
- USD a touch lower and well within post-payrolls ranges. The general risk environment has improved since Friday’s strong Payrolls, and Monday’s bid in crude. Overnight saw Kospi rise near 8%, optimism which has travelled through to European hours with bourses/US futures firm. The next inflection point, aside from geopolitics, will likely be US CPI and PPI on Wednesday and Thursday, respectively. Today sees the release of NFIB small business optimism data, weekly ADP jobs, and Trade metrics. Technicals, to the upside is the 100 mark, where DXY typically loses steam, and downside is 99.80 which provided support on Monday.
- GBP is one of the best G10 performers. A strong BRC retail sales showed consumer spending had steadied from a weak April figure with food and non-food sales accelerating sharply in May. Pantheon Macro estimates the BRC survey in isolation is consistent with a 0.6% month-to-month rise in official retail sales volumes in May. Cable took a hit on Friday’s Payrolls and continues to trade below levels seen before the data (c. 50pips), carry remains in focus into the slew of Central Bank meetings this, and next week. BoE pricing steady, still only pricing one full hike this year (c. 45bps by year-end), consistent with recent levels.
- Antipodeans outperforming with Kiwi benefitting to a greater extent after strong Chinese trade data beat expectations across the board thanks to robust tech-related Imports and Exports. Australian NAB business confidence was out overnight, remaining negative though faring better than April’s figure. AUD/NZD dipped from a 1.2136 peak, to mark a session trough of 1.2083, AUD/USD +0.1%, NZD/USD +0.3%.
Fixed Income
- Global fixed benchmarks are mildly firmer this morning, benefiting from lower energy prices as recent geopolitical tensions ease for the time being. In brief, Israel and Iran have agreed to halt their strikes, though recent reports have suggested that Southern Lebanon remains under fire. Trump has continued to talk up the mood, stating that a total victory will be declared in two weeks. For reference, this marks the 37th time he has suggested that a deal is imminent, CNN reported.
- USTs (+2 ticks) are slightly firmer and trade within a 108-27+ to 109-03 range. As above, action is facilitated by lower energy prices, but with trade tentative amidst the uncertain environment. Also clouding the picture is the hawkish economic picture, with the recent NFP report pointing towards a solid labour market. US CPI and PPI (Wed/Thu) will play key roles for policymakers heading into next week’s policy decision. As for today, traders will digest US ADP Weekly Change, Exports/Imports, Atlanta Fed GDP, and Wholesale Inventories (Apr).
- Bunds (+10 ticks) and Gilts (+15 ticks) also trade modestly higher, but with price action rangebound. In Germany, Industrial Production increased from the prior, but still remains at low levels; trade data displayed a mixed picture.
- Over in the UK, BRC Retail Sales in May topped expectations (3.4% vs exp. 0.6%), indicating that consumers have remained resilient despite the Iran conflict; though, some of that spending may be related to the good weather experienced in the region. As for politics, UK PM candidate Burnham is reportedly poised to delay any Labour leadership bid until after the battle to retain the Greater Manchester mayoralty. Gilts trade in a 87.53 to 87.69 range.
- Germany sells EUR 1.756bln vs exp. EUR 2.0bln 1.80% 2053, 2.50% 2035 and 2.30% 2033 Green Bund.
- The Netherlands sells EUR 2.5bln vs exp. 2.5bln 2.50% 2035 DSL: Average yield 3.102% (prev. 2.810%).
Commodities
- Crude futures are softer, continuing from Monday’s afternoon sell-off, as Israel and Iran seemingly hold onto their promises to halt attacks on each other. Despite this, there have been reports of strikes in Lebanon but benchmarks were unreactive. Late in Monday’s session, Axios reported that in a call with Israeli PM Netanyahu, US President Trump warned that if the Israeli leader went back to war with Iran, he might be fighting alone. Further on the US-Iran deal, CNN reported, citing a top Iranian official, said a deal being imminently reached is doubtful due to persistence of major roadblocks regarding Iran’s nuclear programme and uranium enrichment. However, these reports have failed to damper the risk tone. WTI Jul trades at the lower end of a USD 88.80-91.55/bbl range while Brent Aug hovers around the USD 92.00/bbl mark (USD 92.00-94.42/bbl).
- Precious metals have steadied since Friday’s selloff, with spot gold hovering above the USD 4300/oz handle (USD 4313-4352/oz). Spot silver has regained the 200-SMA, trading at the upper end of its USD 67.46-68.86/oz range.
- 3M LME Copper gains, along with the broader base metal space, amid the positive risk tone. The red metal trades at the top end of its USD 13.55k-13.77k/t range.
- Vale said it has not seen any significant destruction in global metals demand from the Iran conflict, with strong demand for critical minerals and tighter raw material flows helping support commodity prices and margins.
Trade/Tariffs
- US asked China to resume rare earth exports to Japan, with Washington concerned regarding impacts on global high-tech supply chains, according to Nikkei.
- China Foreign Ministry, on the US adding Chinese firms to Pentagon list, said China always opposes US overgeneralising the concept of national security.
Central Banks
- BoJ is reportedly prepared to raise rates by 25bps at its June meeting, Nikkei reported. The hike is to prepare for the risk of an upward revision of inflation. Also, to begin discussions around the discontinuation of its quarterly reduction in government bond purchases from April 2027 onwards.
Geopolitics: Iran
- US President Trump said they are negotiating regarding Iran and a victory will happen very soon, while he stated they will declare total victory in two weeks and oil prices will come down post-Iran. Trump separately commented that he could have an idea on an Iran deal in one or two days, and stated the blockade continues to hold, as well as stated that they are very close to having a good, strong, powerful deal. On the Iran-Israel front, he said that Israel and Iran agreed to leave each other alone for another week.
- US VP Vance said a potential Iran deal will be a home run for the American people and that the US will need to verify over the long-term that Iran is living up to the agreement, while he also stated that the US’s interest lies in a deal with Iran, whether Israel likes it or not. Vance also commented that the primary goal is to prevent Iran from acquiring a nuclear weapon, and stated that a military option is not ruled out if diplomacy with Iran fails.
- Iran’s UN envoy hopes for US-Iran talks conclusion by the end of June, and stated the US and Iran are exchanging views via Pakistan.
- Iranian official said no agreement can be reached unless its frozen funds are released and sanctions are lifted, while the official added that Washington made changes to the draft MoU and that this was unacceptable, according to Al Jazeera. It was separately reported that a top Iranian official casted doubt on a deal being imminently reached between the US and Iran, while the official said major roadblocks persist on issues like Iran’s nuclear program and uranium enrichment.
- Iranian Parliament member said that if Israel attacks Lebanon or Iranian soil, then both Israel and US military bases will be legitimate targets.
- A military source familiar with the Houthis suggest that they are “preparing major military surprises, and that the weapons that will be used in the naval or aerial conflict will be of high quality”, Kan’s Kais reported.
- Two new airstrikes have reportedly been undertaken by Israel, targeting Southern Lebanon, Tehran Times reported.
- Tasnim news agency reported air raids by Israel on two settlements in the city of Tyre in southern Lebanon.IRNA reported continuation of attacks by Israeli regime on southern Lebanon.
Geopolitics: Ukraine
- Russia’s Deputy Foreign Minister said Russia and Belarus are constantly ready to use all available means, including nuclear, to ensure security, according to an interview with Izvestia newspaper.
- Drone strike reportedly hit Sevastopol in Russian-annexed Crimea.
US Event Calendar
- 6:00 am: May NFIB Small Business Optimism, est. 96, prior 95.9
- 8:30 am: Apr Trade Balance, est. -56.1b, prior -60.3b
- 10:00 am: May Existing Home Sales, est. 4.07m, prior 4.02m
- 10:00 am: Apr F Wholesale Inventories MoM, est. 0.55%, prior 0.5%
DB’s Jim Reid concludes the overnight wrap
Morning from Istanbul. Please don’t tell my wife, but this extraordinary city was the backdrop to the greatest night of my life some five years before I met her. Even now, the memory is vivid of that special night of passion. The heat. The noise. The sweat. A pounding heart and hours of emotional turbulence. By late evening it felt inevitable that it simply wasn’t going to happen, and that I’d leave exhausted, disappointed and slightly broken. Then, just after midnight, against all logic and expectation, came a sudden, frantic and utterly euphoric release. Yes after being 3-0 down at half-time, the “Miracle of Istanbul” arrived and Liverpool fought back and ultimately won the penalty shoot out and, with it, the Champions League back in 2005. A night I will never forget but with the way Liverpool played this past season I’m not sure when that will be next repeated.
Talking of repeats, it seems the cycle of “near a deal, not near a deal, escalation, de escalation, maybe back near a deal” continues. However for now we’re back in the “a deal is still possible” camp and in addition the AI trade has continued to bounce back this morning.
On that, the KOSPI (+7.35%) is sharply higher after its 9th worst day in 45 plus years of history yesterday (-8.29%). The Nikkei (+2.19%) is also benefiting from a recovery in technology stocks after a decline of over -3.5% yesterday. Chinese stocks are up just over half a percent and other markets are broadly flat. S&P 500 (+0.26%) and NASDAQ 100 (+0.54%) futures are also continuing to recover after a decent session yesterday.
As I’m typing this this morning, President Trump has been speaking to reporters and has said that they are “very close to having a good strong powerful deal” and that they “could have an idea on Iran in one or two days now”. Of course we’ve been here a few times before but the weekend stresses are fading back a little for now.
Indeed markets swung around yesterday as we faced an array of geopolitical headlines. Initially, it looked like another rough session, with Brent Crude up over +5% in the European morning amidst the strikes between Israel and Iran we discussed this time yesterday. However, the mood soon began to turn more positive, with President Trump calling on both sides to dial things down which to be fair he tried to do late in the weekend. Then late in the European morning session, Trump posted that “Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE! Final negotiations on “Peace” are proceeding, subject to ignorance or stupidity getting in its way. The Blockade will remain in place, and in full force and effect, until a “Final Deal” is reached. Things should move quickly.”
That post from Trump led to an initial decline in oil prices, but the bigger move lower then came after Iran’s Fars said that the military operation against Israel had ended. Admittedly, they warned that further Israeli attacks would lead to “much harsher and more crushing actions than before”, but the end to the attacks was taken positively. Moreover, Israeli PM Netanyahu later said that Israel would hold fire in Iran for now. So it felt as though for the time being at least, the weekend flare-up in hostilities had been stopped, and there was still a path for peace talks to continue.
Given the end to the Israel-Iran strikes, Brent crude ultimately came down from an intraday peak above $98/bbl in the European morning, to $94.25/bbl by the close. Or in other words, it was only up +1.25% from its Friday close. That gap has narrowed further this morning with a -0.80% fall as I type.
Even with the pull back, concerns around inflation remained high yesterday, which cemented investor conviction that central banks would still be hiking rates in the coming months. Indeed for the Fed, markets raised the chance of a hike as soon as September to 53%, up from 44% on Friday. It’s ticked down to 50% this morning.
Given that backdrop, it was a tough session for sovereign bonds on both sides of the Atlantic. So Treasury yields rose across the curve, with the 2yr yield (+1.6bps) up to 4.16%, its highest since February 2025, while 10yr (+3.3bps to 4.56%) and 30yr yields (+4.0bps to 5.03%) saw larger increases. Notably, there were some big milestones for real yields, with the 10yr real yield (+3.7bps) closing at a one-year high of 2.20%. However, we didn’t have any Fed speakers as we’re now in the blackout period before next week’s meeting, so we don’t have much sense of how they’re thinking about the strong jobs report and whether it warrants a hawkish reaction.
Over in Europe it was a similar story, with yields on 10yr bunds (+2.2bps), OATs (+3.3bps) and BTPs (+3.4bps) all moving higher again. In fact, for 10yr OATs it took them up to a post-2009 high of 3.84%. And then in Germany, the 10yr real yield was at a 5-month high of 0.82%, despite some underwhelming data on factory orders, which showed a monthly decline of -3.8% in April (vs. -2.0% expected).
One relatively positive area yesterday was US equities, with the major indices stabilising after Friday’s slump. The recovery was particularly visible in segments that slumped the most on Friday, with the NASDAQ up +0.86%, whilst the Philly semiconductor index rose +5.61%, recovering about half of its -10.26% fall last Friday. However, the broader equity mood was more cautious, and the S&P 500 (+0.30%) recovered only a small fraction of Friday’s -2.64% decline. Indeed, almost two-thirds of S&P constituents were lower on the day, with tech and energy the only sectors to post clear gains. And the Mag-7 (-0.06%) struggled to follow the recovery in chipmakers, with Apple (-1.89%) leading on the downside amid a lukewarm reaction to the latest generation of its AI platform.
The equity weakness was clearer in Europe. In part, that was because they’d closed before the worst of the US losses on Friday, so there wasn’t the same bounce back potential. But they were also more exposed to the oil price increase, so the STOXX 600 (-0.15%) fell for a second consecutive session. There were similar moves across Europe, including for the DAX (-0.58%) and the CAC 40 (-0.23%), but Italy’s FTSE MIB (+0.63%) was the main outperformer.
Looking at the overnight data, in China both exports and imports grew at an accelerated rate in May, exceeding forecasts as surging demand for AI hardware mitigated the impact of disruptions caused by the war in Iran. Exports surged by +19.4% y/y in May, surpassing expectations of a +15% increase. This significant rise was partly fuelled by a weak performance last year, during the US-China trade war. Imports soared over +27% y/y in May, resulting in a trade surplus of $105.4 billion, the largest since January. Additionally, South Korea’s economy expanded by +1.8% in the January-March quarter compared to the previous three months, an increase from the 1.7% growth estimated in April. On an annual basis, Asia’s fourth-largest economy grew by 3.8%, revised upward from the earlier estimate of 3.6%.
Looking at the day ahead, data releases include German industrial production for April, the US trade balance for April, and US existing home sales for May. Otherwise from central banks, we’ll hear from the ECB’s Moulin
1b) European opening report
Global equities mostly firm; NQ +0.8%, USD and crude softer as geopols quieten – Newsquawk US Market Open
Tuesday, Jun 09, 2026 – 06:12 AM
- US President Trump said they are negotiating with Iran, and a victory will happen very soon, while he stated they will declare total victory in two weeks.
- US President Trump said Israel and Iran agreed to leave each other alone for another week.
- US equity futures continue to gain; FTSE 100 underperforms as Pharma giants fall.
- DXY returns below 100.00 handle, Kiwi outperforms while GBP gains following strong BRC sales.
- Fixed income benchmarks are tentatively firmer as geopolitical tensions ease.
- Crude continues to soften amid halted Iran-Israeli strikes; metals supported by softer dollar and positive risk tone
- Looking ahead, highlights include Mexican Inflation (May), US ADP Weekly Change, Exports/Imports, Atlanta Fed GDP, Existing Home Sales (May), Wholesale Inventories (Apr), Canadian Exports/Imports (Apr), EIA STEO (Jun), Comments from ECB President Lagarde, Supply from the US.
Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
EUROPEAN TRADE
EQUITIES
- European bourses (STOXX 600 +0.5%) start Tuesday’s trade on a positive footing with geopolitical updates quiet. FTSE MIB (+1.6%) is the clear outperformer helped by gains in Banks, while FTSE 100 (-0.3%) is the only index in the red as miners and healthcare giants fall.
- European sectors hold a positive bias. Insurance (+1.3%) tops the pile, with Retail (+1.0%) and Banks (+1.2%) rounding out the top 3. To the downside are Basic Resources (-0.3%), Health Care (-0.5%) and Energy (-0.4%).
- US equity futures (ES +0.4%) continue to rise following last week’s tech-led selloff. Citi updated its Equity Markets Positioning Model, stating US equity positioning has become cleaner but still extended following last week’s selloff. Based on simple market indicators, the 14-period RSI for ES has returned below overbought territory and nears the lower band of the 20-SMA 2-SD band.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
FX
- G10s are nearly entirely firmer against a modestly softer Buck, which remains towards recent post-NFP highs. Kiwi and sterling outperform, NOK is the laggard with Brent Aug’26 -1.5%.
- USD a touch lower and well within post-payrolls ranges. The general risk environment has improved since Friday’s strong Payrolls, and Monday’s bid in crude. Overnight saw Kospi rise near 8%, optimism which has travelled through to European hours with bourses/US futures firm. The next inflection point, aside from geopolitics, will likely be US CPI and PPI on Wednesday and Thursday, respectively. Today sees the release of NFIB small business optimism data, weekly ADP jobs, and Trade metrics. Technicals, to the upside is the 100 mark, where DXY typically loses steam, and downside is 99.80 which provided support on Monday.
- GBP is one of the best G10 performers. A strong BRC retail sales showed consumer spending had steadied from a weak April figure with food and non-food sales accelerating sharply in May. Pantheon Macro estimates the BRC survey in isolation is consistent with a 0.6% month-to-month rise in official retail sales volumes in May. Cable took a hit on Friday’s Payrolls and continues to trade below levels seen before the data (c. 50pips), carry remains in focus into the slew of Central Bank meetings this, and next week. BoE pricing steady, still only pricing one full hike this year (c. 45bps by year-end), consistent with recent levels.
- Antipodeans outperforming with Kiwi benefitting to a greater extent after strong Chinese trade data beat expectations across the board thanks to robust tech-related Imports and Exports. Australian NAB business confidence was out overnight, remaining negative though faring better than April’s figure. AUD/NZD dipped from a 1.2136 peak, to mark a session trough of 1.2083, AUD/USD +0.1%, NZD/USD +0.3%.
FIXED INCOME
- Global fixed benchmarks are mildly firmer this morning, benefiting from lower energy prices as recent geopolitical tensions ease for the time being. In brief, Israel and Iran have agreed to halt their strikes, though recent reports have suggested that Southern Lebanon remains under fire. Trump has continued to talk up the mood, stating that a total victory will be declared in two weeks. For reference, this marks the 37th time he has suggested that a deal is imminent, CNN reported.
- USTs (+2 ticks) are slightly firmer and trade within a 108-27+ to 109-03 range. As above, action is facilitated by lower energy prices, but with trade tentative amidst the uncertain environment. Also clouding the picture is the hawkish economic picture, with the recent NFP report pointing towards a solid labour market. US CPI and PPI (Wed/Thu) will play key roles for policymakers heading into next week’s policy decision. As for today, traders will digest US ADP Weekly Change, Exports/Imports, Atlanta Fed GDP, and Wholesale Inventories (Apr).
- Bunds (+10 ticks) and Gilts (+15 ticks) also trade modestly higher, but with price action rangebound. In Germany, Industrial Production increased from the prior, but still remains at low levels; trade data displayed a mixed picture.
- Over in the UK, BRC Retail Sales in May topped expectations (3.4% vs exp. 0.6%), indicating that consumers have remained resilient despite the Iran conflict; though, some of that spending may be related to the good weather experienced in the region. As for politics, UK PM candidate Burnham is reportedly poised to delay any Labour leadership bid until after the battle to retain the Greater Manchester mayoralty. Gilts trade in a 87.53 to 87.69 range.
- Germany sells EUR 1.756bln vs exp. EUR 2.0bln 1.80% 2053, 2.50% 2035 and 2.30% 2033 Green Bund.
- The Netherlands sells EUR 2.5bln vs exp. 2.5bln 2.50% 2035 DSL: Average yield 3.102% (prev. 2.810%).
COMMODITIES
- Crude futures are softer, continuing from Monday’s afternoon sell-off, as Israel and Iran seemingly hold onto their promises to halt attacks on each other. Despite this, there have been reports of strikes in Lebanon but benchmarks were unreactive. Late in Monday’s session, Axios reported that in a call with Israeli PM Netanyahu, US President Trump warned that if the Israeli leader went back to war with Iran, he might be fighting alone. Further on the US-Iran deal, CNN reported, citing a top Iranian official, said a deal being imminently reached is doubtful due to persistence of major roadblocks regarding Iran’s nuclear programme and uranium enrichment. However, these reports have failed to damper the risk tone. WTI Jul trades at the lower end of a USD 88.80-91.55/bbl range while Brent Aug hovers around the USD 92.00/bbl mark (USD 92.00-94.42/bbl).
- Precious metals have steadied since Friday’s selloff, with spot gold hovering above the USD 4300/oz handle (USD 4313-4352/oz). Spot silver has regained the 200-SMA, trading at the upper end of its USD 67.46-68.86/oz range.
- 3M LME Copper gains, along with the broader base metal space, amid the positive risk tone. The red metal trades at the top end of its USD 13.55k-13.77k/t range.
- Vale said it has not seen any significant destruction in global metals demand from the Iran conflict, with strong demand for critical minerals and tighter raw material flows helping support commodity prices and margins.
TRADE/TARIFFS
- US asked China to resume rare earth exports to Japan, with Washington concerned regarding impacts on global high-tech supply chains, according to Nikkei.
- China Foreign Ministry, on the US adding Chinese firms to Pentagon list, said China always opposes US overgeneralising the concept of national security.
NOTABLE EUROPEAN HEADLINES
- CBI warned around 200k more Britons are on track to become unemployed, with unemployment forecast to rise to 5.5% this year, while it cut UK GDP growth forecasts to 1.1% in 2026 and 0.9% in 2027 from prior expectations of 1.3% and 1.5%, respectively.
- No breakthrough in discussions on finalising the Defence Investment Plan on Monday but it could still come this week, POLITICO reported citing sources.
NOTABLE EUROPEAN DATA RECAP
- German Balance of Trade (Apr) 14.5B vs. Exp. 14.2B (Prev. 14.3B).
- German Exports MoM (Apr) M/M 0.9% (Prev. 0.5%).
- German Imports MoM (Apr) M/M 1.2% (Prev. 5.1%).
- German Industrial Production MoM (Apr) M/M 0.4% vs. Exp. 0.5% (Prev. -0.7%).
- UK BRC Retail Sales Monitor YoY (May) Y/Y 3.4% vs. Exp. 0.6% (Prev. -3.4%).
CENTRAL BANKS
- BoJ is reportedly prepared to raise rates by 25bps at its June meeting, Nikkei reported. The hike is to prepare for the risk of an upward revision of inflation. Also, to begin discussions around the discontinuation of its quarterly reduction in government bond purchases from April 2027 onwards.
NOTABLE US HEADLINES
- USTR Greer said to be heading to Silicon Valley to promote onshoring this week, Semafor reported citing sources.
GEOPOLITICS
MIDDLE EAST
- US President Trump said they are negotiating regarding Iran and a victory will happen very soon, while he stated they will declare total victory in two weeks and oil prices will come down post-Iran. Trump separately commented that he could have an idea on an Iran deal in one or two days, and stated the blockade continues to hold, as well as stated that they are very close to having a good, strong, powerful deal. On the Iran-Israel front, he said that Israel and Iran agreed to leave each other alone for another week.
- US VP Vance said a potential Iran deal will be a home run for the American people and that the US will need to verify over the long-term that Iran is living up to the agreement, while he also stated that the US’s interest lies in a deal with Iran, whether Israel likes it or not. Vance also commented that the primary goal is to prevent Iran from acquiring a nuclear weapon, and stated that a military option is not ruled out if diplomacy with Iran fails.
- Iran’s UN envoy hopes for US-Iran talks conclusion by the end of June, and stated the US and Iran are exchanging views via Pakistan.
- Iranian official said no agreement can be reached unless its frozen funds are released and sanctions are lifted, while the official added that Washington made changes to the draft MoU and that this was unacceptable, according to Al Jazeera. It was separately reported that a top Iranian official casted doubt on a deal being imminently reached between the US and Iran, while the official said major roadblocks persist on issues like Iran’s nuclear program and uranium enrichment.
- Iranian Parliament member said that if Israel attacks Lebanon or Iranian soil, then both Israel and US military bases will be legitimate targets.
- A military source familiar with the Houthis suggest that they are “preparing major military surprises, and that the weapons that will be used in the naval or aerial conflict will be of high quality”, Kan’s Kais reported.
- Two new airstrikes have reportedly been undertaken by Israel, targeting Southern Lebanon, Tehran Times reported.
- Tasnim news agency reported air raids by Israel on two settlements in the city of Tyre in southern Lebanon.IRNA reported continuation of attacks by Israeli regime on southern Lebanon.
RUSSIA-UKRAINE
- Russia’s Deputy Foreign Minister said Russia and Belarus are constantly ready to use all available means, including nuclear, to ensure security, according to an interview with Izvestia newspaper.
- Drone strike reportedly hit Sevastopol in Russian-annexed Crimea.
CRYPTO
- Bitcoin trades either side of the USD 63k handle as the token steadies after last week’s slump.
APAC TRADE
- APAC stocks traded somewhat mixed, albeit with a mostly positive bias as indices rebounded from yesterday’s losses, with sentiment helped by Israel and Iran halting their strikes, while participants also reflected on the better-than-expected Chinese trade data.
- ASX 200 declined as the prior day’s losses caught up with the index on return from a long weekend.
- Nikkei 225 fluctuated and briefly wiped out all its opening gains before rebounding to print fresh intraday highs.
- Hang Seng and Shanghai Comp were mixed with the mainland kept afloat following the stronger-than-expected Chinese trade data, although gains were capped after the US Pentagon posted a list of Chinese military companies, which included Alibaba, Baidu, BYD, Tencent, NIO and Cosco among others.
NOTABLE APAC DATA RECAP
- Chinese Balance of Trade (USD)(May) 105.4B vs. Exp. 91.5B (Prev. 84.8B).
- Chinese Exports YY (May) 19.4% vs. Exp. 14.3% (Prev. 14.1%).
- Chinese Imports YY (May) 27.4% vs. Exp. 25% (Prev. 25.3%).
- Taiwan Balance of Trade (May) 17.91B vs. Exp. 15.2B (Prev. 14.35B).
- Taiwan Exports YoY (May) Y/Y 51.7% vs. Exp. 37.9% (Prev. 39%).
- Taiwan Imports YoY (May) Y/Y 54.90% vs. Exp. 37.4% (Prev. 29.2%).
- Australian Westpac Consumer Confidence Index (Jun) 80.6 (Prev. 83).
- Australian Westpac Consumer Confidence Change MM (Jun) -2.9% (Prev. 3.5%).
- Australian NAB Business Confidence (May) -14 (Prev. -24).
- Australian NAB Business Conditions (May) 3 (Prev. 3).
- South Korean GDP Growth Rate QoQ Final (Q1) Q/Q 1.8% vs. Exp. 1.7% (Prev. 1.7%).
- South Korean GDP Growth Rate YoY Final (Q1) Y/Y 3.8% vs. Exp. 3.6% (Prev. 3.6%).
1c) Asian opening report
Crude benchmarks a touch lower, ES/NQ firm after strong APAC lead, EU Bourses lag – Newsquawk EU Market Open
Tuesday, Jun 09, 2026 – 02:30 AM
- US President Trump said they are negotiating regarding Iran and a victory will happen very soon; he stated they will declare total victory in two weeks; Brent Aug’26 -1.1%
- Trump was said to have warned Israeli PM Netanyahu that if he turns escalation into war, he will be left alone against Iran. He also told the Israeli PM that if he does not get an Iran deal within a few days, he would lead the strikes on Iran.
- A top Iranian official casted doubt on a deal being imminently reached between the US and Iran, telling CNN that major roadblocks persist on issues like Iran’s nuclear program and uranium enrichment.
- Pentagon accused several Chinese tech-giants (Alibaba, Baidu, BYD, Tencent) of aiding the Chinese military.
- APAC stocks traded mixed; European equity futures are indicative of a slightly weaker open.
- DXY is incrementally lower with G10s broadly firmer, and the Kiwi outperforms.
- Looking ahead, highlights include German Balance of Trade, Exports, Imports (Apr), Mexican Inflation (May), US ADP Weekly Change, Exports/Imports, Atlanta Fed GDP, Existing Home Sales (May), Wholesale Inventories (Apr), Canadian Exports/Imports (Apr), EIA STEO (Jun), Comments from ECB President Lagarde, Supply from Netherlands, Germany & US.
Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
IRAN CONFLICT
- US President Trump said they are negotiating regarding Iran and a victory will happen very soon, while he stated they will declare total victory in two weeks and oil prices will come down post-Iran. Trump separately commented that he could have an idea on an Iran deal in one or two days, and stated the blockade continues to hold, as well as stated that they are very close to having a good, strong, powerful deal.
- US President Trump was said to have warned Israeli PM Netanyahu that if he turns escalation into war, he will be left alone against Iran, while Trump believes Iran is interested in signing an agreement, according to Al Jazeera.
- US President Trump argued during the call on Sunday with Israeli PM Netanyahu that either he would get a deal with Iran in a few days that would make the strikes unnecessary, or he wouldn’t — in which case he might lead the strikes on Iran, according to Axios citing sources.
- US VP Vance said a potential Iran deal will be a home run for the American people and that the US will need to verify over the long-term that Iran is living up to the agreement, while he also stated that the US’s interest lies in a deal with Iran, whether Israel likes it or not. Vance also commented that the primary goal is to prevent Iran from acquiring a nuclear weapon, and stated that a military option is not ruled out if diplomacy with Iran fails.
- US State Department told Al Arabiya that the naval blockade on Iran will remain in place until an agreement is reached, while the release of frozen funds will not happen until Iran complies with its commitments, and President Trump’s demands of Iran are clear, first and foremost being abandoning its nuclear program. Furthermore, it stated that Hezbollah must hand over its weapons to the Lebanese government and must stop dragging Lebanon into wars.
- US CENTCOM said forces disabled an unladen oil tanker in the Gulf of Oman, June 8th, after the vessel violated the ongoing blockade against Iran by attempting to sail to an Iranian port.
- US Army Apache helicopter went down near the Strait of Hormuz and the two crew members were rescued safely earlier on Monday, while it was not immediately clear what caused the incident, according to NYT.
- Israeli PM Netanyahu was preparing a “significant” Iran attack when US President Trump convinced him to stand down, according to CNN.
- Israeli Home Front announced sirens sounded in several towns in western Galilee due to fear of drone infiltration, and sirens also sounded in the area of Eilat, while the Israeli military intercepted a suspicious aerial object from Yemen after hostile aircraft alarms sounded in the Eilat region.
- Iranian Parliamentary Speaker Ghalibaf said they will turn the naval blockade into another defeat for the enemy, while he said that Trump’s statements about the MoU were against the agreed parts of the deal and showed the US is neither seeking a ceasefire nor dialogue. Ghalibaf also stated that the goal is to end the war and establish sustainable security, not to normalise relations with the US, and they have no trust towards the opposing party.
- Iran’s UN envoy hopes for US-Iran talks conclusion by the end of June, and stated the US and Iran are exchanging views via Pakistan.
- Iranian official said no agreement can be reached unless its frozen funds are released and sanctions are lifted, while the official added that Washington made changes to the draft MoU and that this was unacceptable, according to Al Jazeera. It was separately reported that a top Iranian official casted doubt on a deal being imminently reached between the US and Iran, while the official said major roadblocks persist on issues like Iran’s nuclear program and uranium enrichment.
- Iran’s Deputy Foreign Minister Gharibabadi criticised the European Union for approving sanctions against Iranian individuals and institutions in connection with the Strait of Hormuz.
- IRGC force commander said from the Strait of Hormuz to Bab El-Mandeb and from the Persian Gulf to the Red Sea, there will be a new security belt of resistance.
- Flights at Tehran’s Imam Khomeini airport have resumed.
- Lebanon’s President said for the time being, they are negotiating a non-aggression agreement with Israel, and he will not meet Israeli PM Netanyahu before reaching an agreement to end the war, while he told the Israeli government that the military solution will never provide security to the people of northern Israel, and they seek a good relationship with Iran based on non-interference.
- Iraqi sources reported an explosion at one of the headquarters of separatist and anti-Iranian groups in the Iraqi Kurdistan region.
US TRADE
EQUITIES
- US indices were predominantly firmer on Monday, with the Nasdaq recovering some of the sharp losses seen in the latter half of last week, while the S&P 500 posted modest gains. The Dow closed little changed, and the Russell 2000 also finished in positive territory. Market breadth was weak, however, with Technology accounting for most of the upside while the majority of sectors closed lower. Utilities and Real Estate led the declines after outperforming during last week’s risk-off trade.
- Within Technology, Intel (INTC) was a standout performer after The Information reported that Alphabet (GOOGL) and Nvidia (NVDA) are evaluating the company as a secondary manufacturing partner. Elsewhere, the Memory ETF (DRAM) rebounded around 8%, while the Semiconductor ETF (SOXX) gained roughly 6%, recovering part of last week’s sharp declines. Meanwhile, Apple held its WWDC, where it unveiled the updated Siri AI. The feature will be available later this year, although it will not be available in China due to regulatory issues, which saw the stock close lower.
- SPX +0.30% at 7,406, NDX +1.58% at 29,414, DJI -0.16% at 50,791, RUT +0.77% at 2,855.
- Click here for a detailed summary.
TARIFFS/TRADE
- US Pentagon posted a list of Chinese military companies, in which it named Alibaba (BABA), Baidu (BIDU), BYD (BYDDY), Tencent (TCEHY), Nio (NIO) and Cosco among others. Accuses them of aiding the Chinese military.
- US asked China to resume rare earth exports to Japan, with Washington concerned regarding impacts on global high-tech supply chains, according to Nikkei.
- French President Macron is to host a teleconference between G7 nations and China, seeking to address global trade imbalances.
APAC TRADE
EQUITIES
- APAC stocks traded somewhat mixed, albeit with a mostly positive bias as indices rebounded from yesterday’s losses, with sentiment helped by Israel and Iran halting their strikes, while participants also reflected on the better-than-expected Chinese trade data.
- ASX 200 declined as the prior day’s losses caught up with the index on return from a long weekend.
- Nikkei 225 fluctuated and briefly wiped out all its opening gains before rebounding to print fresh intraday highs.
- Hang Seng and Shanghai Comp were mixed with the mainland kept afloat following the stronger-than-expected Chinese trade data, although gains were capped after the US Pentagon posted a list of Chinese military companies, which included Alibaba, Baidu, BYD, Tencent, NIO and Cosco among others.
- US equity futures eked out mild gains following the halt in recent strikes between Iran and Israel.
- European equity futures indicate a slightly lower cash market open with Euro Stoxx 50 futures down 0.1% after the cash market closed flat on Monday.
FX
- DXY traded little changed following the recent mixed performance against G10 FX peers as geopolitical news dominated the tape owing to the weekend escalations between Iran and Israel, although tensions have since simmered down after Trump got involved. Both sides have halted strikes but vowed to retaliate if fighting begins again, with Iran warning of a “severe” response if the Israel Defence Forces continues striking southern Lebanon.
- EUR/USD eked slight gains after rebounding from yesterday’s floor around the 1.1500 level, and with the single currency contained by a lack of fresh catalysts from the bloc.
- GBP/USD marginally edged higher but with price action contained amid a light calendar for the UK for most of the week until Friday’s monthly GDP and output data, while it was also reported that UK’s Andy Burnham is poised to delay any Labour leadership bid until after the battle to retain the Greater Manchester mayoralty, which is likely to provide further breathing room for UK PM Starmer.
- USD/JPY lacked firm direction after recent swings through the 160.00 level, with participants tentative ahead of next week’s BoJ meeting, while Japanese Finance Minister Katayama reiterated they are prepared to take decisive action.
- Antipodeans slightly gained in the aftermath of the better-than-expected trade data from Australia and New Zealand’s largest trading partner.
- PBoC set USD/CNY mid-point at 6.8147 vs exp. 6.7809 (prev. 6.8198).
FIXED INCOME
- 10yr UST futures were contained near the 109.00 level after recent price swings as US President Trump pushed de-escalation efforts, while demand was not helped by the absence of Fed speakers and ahead of today’s 3yr note auction.
- Bund futures remained subdued after recent energy-driven pressures, with participants awaiting German trade data and looming supply, beginning with today’s EUR 2bln of Bund issuances.
- 10yr JGB futures initially conformed to the downbeat mood in global peers amid higher yields heading into an anticipated BoJ rate increase at next week’s meeting, although futures then staged a recovery and eventually turned positive in the second half of trade.
COMMODITIES
- Crude futures trickled lower after paring this week’s initial gains as price action remained at the whim of geopolitical updates, with the pullback spurred by US President Trump’s efforts to quash the flare-up between Iran and Israel. On that note, Iran’s armed forces announced the end of military operations against Israel, but warned of harsher attacks if Israel resumes attacks on Lebanon, while Israel and the US conveyed to Iran that there will be no further attacks if Iran does not fire again.
- Russian Energy Ministry said an increase in air strikes on energy sector facilities is causing temporary difficulties with fuel supplies in southern Russia, according to TASS.
- API CEO Sommers warned of the Iran war impact on oil reserves and said that they’re raising alarm bells right now, according to CNN.
- European LNG imports fell in May as Qatari cargoes disappeared from the market and US deliveries dropped sharply, but stronger exports from Algeria and Russia helped cushion the impact and limit the overall decline, according to Kpler.
- Spot gold traded steadily amid an uneventful dollar and after last week’s retreat, while participants reflected on the recent escalation and eventual simmering down of the geopolitical situation.
- Copper futures were subdued amid the somewhat mixed risk sentiment, and failed to benefit from the better-than-expected Chinese trade data.
CRYPTO
- Bitcoin slipped beneath the USD 63,000 level early in the session before partially nursing losses.
NOTABLE ASIA-PAC HEADLINES
- Japanese Finance Minister Katayama said she believes it is possible to balance fiscal sustainability and measures to boost the economy, while she added there is no change in the stance that they are prepared to take decisive action.
DATA RECAP
- Chinese Balance of Trade (USD)(May) 105.4B vs. Exp. 91.5B (Prev. 84.8B)
- Chinese Exports YY (May) 19.4% vs. Exp. 14.3% (Prev. 14.1%)
- Chinese Imports YY (May) 27.4% vs. Exp. 25% (Prev. 25.3%)
- Chinese Balance of Trade (CNY)(May) 724.0B vs. Exp. 637.0B (Prev. 585.7B)
- Chinese Exports YY (CNY)(May) 13.8% (Prev. 9.8%)
- Chinese Imports YY (CNY)(May) 21.5% (Prev. 20.6%)
- Australian Westpac Consumer Confidence Index (Jun) 80.6 (Prev. 83)
- Australian Westpac Consumer Confidence Change MM (Jun) -2.9% (Prev. 3.5%)
- Australian NAB Business Confidence (May) -14 (Prev. -24)
- Australian NAB Business Conditions (May) 3 (Prev. 3)
GEOPOLITICS
RUSSIA-UKRAINE
- Russia’s Deputy Foreign Minister said Russia and Belarus are constantly ready to use all available means, including nuclear, to ensure security, according to an interview with Izvestia newspaper.
- Drone strike reportedly hit Sevastopol in Russian-annexed Crimea.
EU/UK
NOTABLE HEADLINES
- UK’s Burnham is poised to delay any Labour leadership bid until after the battle to retain the Greater Manchester mayoralty, according to The Sun citing allies.
- CBI warned around 200k more Britons are on track to become unemployed, with unemployment forecast to rise to 5.5% this year, while it cut UK GDP growth forecasts to 1.1% in 2026 and 0.9% in 2027 from prior expectations of 1.3% and 1.5%, respectively.
DATA RECAP
- UK BRC Retail Sales Monitor YY (May) 3.4% vs. Exp. 0.6% (Prev. -3.4%)
2.NORTH AND SOUTH KOREA AND JAPAN
SOUTH KOREA
JAPAN
3 CHINA
CHINA/
China’s Oil Imports Plummet To Eight-Year Low
Tuesday, Jun 09, 2026 – 12:40 PM
Confirming our recent reporting on China’s oil demand collapse, crude oil imports to China in May fell to their lowest since October 2017 because of the price spike resulting from the Persian Gulf tanker traffic disruption, plunging refinery margins (due to price ceilings imposed by Beijing), of a slowing economy and the rapid slowdown in the economy.
The May total stood at 33 million barrels, or 7.8 million barrels daily, Bloomberg reported, citing Chinese customs data. This is roughly a 30% drop vs the average daily import rate of 11.6 million barrels last year. As previously noted, refinery run rates are down as well, as are fuel exports, with Beijing careful to make sure there is enough diesel and gasoline for the domestic market. All this is happening as the latest batch of Chinese data was “shockingly bad“, promptly fears of a China hard landing.
As OilPrice notes, the news will likely push oil prices lower as China’s reduced appetite for imported crude is widely seen by traders as a cap on international prices. Demand for oil in China, however, has not fallen particularly. The only reason the country’s refiners can afford to slash imports is the substantial inventory cushion available, estimated at over 1 billion barrels, which we said three months ago is the biggest wildcard in the Iran war oil price shock. However, this cushion is not infinite and, as suggested recently by analysts, China will at some point start to ramp up imports.
China’s subdued oil buying from abroad “represents one of the largest offsets to the shock, second only to Saudi rerouting flows and larger than coordinated SPR releases from the U.S., Europe, and Japan,” Societe Generale commodity analysts said earlier this week. However, strategic and commercial oil inventories need replenishing at some point, and when that point is reached and the war is still not over, we are likely to see higher oil prices again. In its lenghty weekly note, JPM commodity analysts agreed.
ING commodity analysts made a similar point last week. “Sizeable inventories in the lead-up to the war have provided a buffer for the market,” Warren Patterson and Ewa Manthey wrote on Friday. “This buffer is shrinking with every passing day. With the seasonally stronger summer still ahead of us, we could see demand grow by more than 3m b/d quarter-on-quarter in the third quarter. The pace of inventory declines will only intensify through the July-September period.”
4. EUROPEAN AND SCANDINAVIAN COMMENTARIES PLUS NATO
GERMANY
Google Met Top German Govt Officials Many Times To Discuss Online “Hate Speech” And “Disinformation”
Tuesday, Jun 09, 2026 – 03:30 AM
Authored by John Rosenthal via DailySceptic.org,
Data provided in a German Government response to a parliamentary question on online censorship show that Google met with top German government officials dozens of times between early 2022 and spring 2024 to discuss suppression of online “hate speech” and “disinformation”.
Major online platforms and search engines (X, Facebook, TikTok, Google, etc.) are required to take measures to suppress “illegal hate speech” – i.e., illegal per the standard of European laws – and allegedly harmful “disinformation” under the EU’s Digital Services Act (DSA). As shown in the US House Judiciary Committee’s recent report on European censorship of the internet, the tech companies are in constant contact with EU officials on DSA “enforcement”.
But the German Government’s parliamentary response shows that there have been regular and extensive contacts with the German Government on these subjects as well – and that by far the most frequent such contacts have been with Google. The DSA creates censorship prerogatives not just for the EU as such, but also for EU member states, and Germany is known to make particularly ample use of these prerogatives. It is indeed national “speech laws”, of which Germany has the strictest in Europe, that platforms are required to enforce under the DSA.
The revelations are relevant not just to Germans, but also to Americans, British and indeed the world, because DSA enforcement is neither territorially nor linguistically limited. It applies to all speech in any language from any source anywhere in the world: i.e., so long as it is visible via the internet in the European Union. Online platforms may choose to comply by geo-blocking certain content – in particular, alleged “hate speech” – just in the EU where it is illegal. But they also can and frequently do take the technologically simpler and less costly path of removing the content in question outright.
Moreover, the DSA explicitly sanctions the use of visibility-filtering – i.e., algorithmically limiting the reach of content rather than removing it – and visibility-filtering is necessarily global. It affects the discoverability and visibility of speech all around the world. As shown here, under the pressure of the DSA, visibility-filtering has become the go-to method employed by social media platforms to suppress alleged ‘mis-’ or ‘disinformation’.
Search engines like Google can, of course, act even more decisively to restrict the reach of alleged ‘disinformation’: namely, by downranking websites or webpages in search results or even excluding them altogether.
The parliamentary question submitted by Germany’s opposition AfD (Alternative for Germany) party in March 2024 expressly relates to both censorship methods, or what its authors describe as “removal or reach throttling of user posts or user accounts”.
Both question and answer bear the title “Meetings of Representatives of the Federal Government with [Tech] Companies and Funded Non-Governmental Organisations on the Topics of ‘Hate’ or ‘Disinformation on the Internet’”. A first set of data provided in the Government response concerns meetings with NGOs. These include, for instance, the publicly-funded German NGO HateAid, which has been assigned the status of a “trusted flagger” of allegedly problematic online content under the DSA.
A second set of data covers the meetings on “hate speech” and “disinformation” with the tech companies themselves. It provides details – date, place, participants, topic, etc. – on no fewer than 53 meetings in the stated time period. An excerpt can be seen below. (The Government also included a few meetings on other topics, such as the protection of minors, in the data.)
It should be noted that, by the Government’s own admission, the data are not exhaustive and only cover meetings involving top German government officials, such as ministers or ‘state secretaries’ – i.e., the highest-level civil servants in German government ministries. Lower-level contacts are explicitly not included, and the Government response notes that it has no legal obligation to record all meetings, i.e., even at the highest levels.
Some of the meetings were publicised by the German government at the time of their occurrence, but most of them were confidential. This is noted in the data, with some of the meetings even being deemed “not suitable” for public knowledge. In other cases, it was merely deemed “unnecessary” to inform the public.
The data include, for instance, a January 2023 meeting in San Francisco between Elon Musk, who had only just recently completed his acquisition of Twitter, and the German government’s then minister for digital affairs Volker Wissing. The subject of the meeting was “how Twitter deals with false information, new requirements under the Digital Services Act”. This meeting was publicised in Germany.
The data also include no fewer than 13 meetings with representatives of Meta on topics like “disinformation in the context of RUS[sian] war against UKR[aine]” (March 3rd 2022 at the Digital Affairs Ministry in Berlin) and “questions of cybersecurity and how Meta deals with disinformation” (February 12th 2024, with a German Interior Ministry official in Menlo Park, California). TikTok was involved in seven of the meetings.
But by far the greatest number of meetings were with Google. Google participated in no fewer than 34 of the meetings included in the data, and no fewer than 29 of them were bilateral meetings between Google or its parent company, Alphabet, and the German government. YouTube, a Google subsidiary, was also sometimes involved.
Then German Chancellor Olaf Scholz, identified by the initials “BK” (Bundeskanzler), participated in two of the meetings with Google and three of the meetings overall. Other participants on the German side included Scholz’s chief of staff Wolfgang Schmidt; another top Scholz advisor, state secretary Jörg Kukies; the minister of the interior, Nancy Faeser; the minister of justice, Marco Buschmann; the economics minister, Robert Habeck; two top officials of the Ministry of Foreign Affairs; a top official of the Ministry of Digital Affairs; and Klaus Müller, the head of the agency responsible for German DSA implementation, the Federal Network Agency. Müller remains the President of the Federal Network Agency under current German Chancellor Friedrich Merz. The vice-president of the agency, Wilhelm Eschweiler, also met with Google on two different occasions.
Participants from Google’s side included Alphabet/Google CEO Sundar Pichai; Alphabet/Google’s President of Global Affairs; the Google Vice-President for Trust and Safety; and Google’s Director of Government Affairs and Public Policy. CEO Sundar Pichai personally participated in no fewer than four of the meetings.
Topics discussed included “hate speech, fake news and disinformation on the web”, “disinformation in the context of RUS[sian] war against UKR[aine]”, “Digital Services Act and how to deal with mis- and disinformation on platforms”, “disinformation and DSA”, “disinformation, resilient democracy, illegal content, hate crime”, “strengthening the resilience of democracy and dealing with disinformation”, “key challenges of Google and YouTube with respect to cybersecurity and disinformation”, and so on and so forth.
Among other venues, meetings took place at the German Ministry of the Interior, the Ministry of Foreign Affairs and other relevant ministries in Berlin, as well as at the offices of the Federal Network Agency.
No fewer than three of the meetings took place at the Federal Chancellery in Berlin, the German equivalent of the White House.
END
ARMENIA/EU/RUSSIA
long time Russia ally Armenia faces now the West:
(zerohedge)
Pro-EU Ruling Party Wins Armenia Election In Landslide, Kremlin Blasts Western Interference
Tuesday, Jun 09, 2026 – 02:45 AM
Armenian Prime Minister Nikol Pashinyan’s party has won parliamentary elections, according to Monday’s result, after a vote which has signified the small Caucasus nation’s major pro-Western shift.
His Civil Contract party secured 49.81 percent of the vote, while the main opposition party Strong Armenia – seen as pro-Moscow, finished a distant second with 23.29 percent. National turnout in the country of three million people was close to 60%.
Pashinyan claimed a “historic victory that will ensure Armenia’s eternity and development” while also vowing to “continue the course of rapprochement with the West” – but while balancing the pursuit of positive relations with Russia.
Prime Minister Pashinyan has made known his intentions for his country to eventually join the EU. However, Strong Armenia party is claiming that the winning side in reality mounted a campaign of interference and intimidation:
The second-placed Strong Armenia bloc is led by Samvel Karapetyan, a Russian-Armenian billionaire who made his fortune in Russia and is under house arrest for allegedly advocating for the government’s overthrow. He has rejected the charge as politically motivated.
Karapetyan called the elections “shameful” and denounced alleged violations and repression, saying dozens of his campaign staff had been arrested. Armenia’s Investigative Committee said it had opened 59 criminal cases over alleged electoral violations and detained nine people.
The Kremlin itself has also pounced on this theme, with Russian Foreign Ministry Spokeswoman Maria Zakharova alleging unfair and illegal tactics unleashed by local authorities on Russia-friendly interests inside Armenia.
“On June 7, parliamentary elections were held in Armenia in an atmosphere of unprecedented pressure on the opposition and interference from the West, primarily the EU,” Zakharova commented.
And more of her remarks via TASS:
She stressed that the preliminary results announced by the republic’s Central Election Commission indicate that the Civil Contract party of Armenian Prime Minister Nikol Pashinyan, which declared its victory, “did not receive a monopoly on power.” “Moreover, compared to the previous electoral cycle, its support has noticeably decreased,” Zakharova added.
Recent years of war between Christian Armenia and its better-armed Muslim neighbor Azerbaijan (which is a secular Republic) has seen tensions ratchet between one-time close allies Armenia and Russia.
Armenia has long been a key member of the regional Russian-led bloc, the Collective Security Treaty Organization (CSTO). However, Armenia froze its participation since 2024, outraged over Russia’s failure to protect ethnic Armenians during Azerbaijan’s 2023 takeover of Nagorno-Karabakh.
Russia since played a ‘peacekeeping’ role with some limited troop deployments; however, Armenian Christians had already been booted from the ancient enclave. Armenian officials (and the population) have since expressed bitterness that Moscow didn’t do more to bolster its historic claims on Nagorno-Karabakh. The episode was seen as a devasting, region-altering loss.
end
oop deployments; however, Armenian Christians had already been booted from the ancient enclave. Armenian officials (and the population) have since expressed bitterness that Moscow didn’t do more to bolster its historic claims on Nagorno-Karabakh. The episode was seen as a devasting, region-altering loss.
END
IRELAND/BELFAST
AWFUL
Belfast Horror: African Migrant Tries To Saw Off Victim’s Head In Street Attack
Tuesday, Jun 09, 2026 – 09:15 AM
Authored by Steve Watson via modernity,
Authorities and the media have scrambled to soften language around a graphic knife assault last night by an apparant African migrant that has left a local Belfast man fighting for his life with devastating injuries.
Horrifcic footage shows the attacker straddling the victim and repeatedly stabbing his head before sawing at his neck in a clear attempt to behead him. Bystanders screamed in horror as the attack unfolded. However, police have described it as nothing more than a “stabbing incident” involving “a man.”
The assault happened shortly after 10:30pm on Monday on Kinnaird Avenue in north Belfast. the attacker hacked at his victim’s head and neck with a small box cutter style Stanley knife. Locals rushed in to drag the assailant off, batting him with blunt objects before police finally arrived.
Bystanders could be heard yelling: “He’s trying to cut his head off.”
The victim is understood to be alive in hospital at the time of writing but has sustained life-altering injuries. Speculation online points to the possibility he has lost both eyes after the frenzied assault.
WARNING – EXTREMELY GRAPHIC VIDEO:
The Police Service of Northern Ireland issued a statement calling it merely a “stabbing incident.” They confirmed one man has been arrested and another taken to hospital with serious injuries. There was no mention of the attacker’s background, immigration status, or the obvious attempt to decapitate the victim.
The media is not focusing on the incident.
The BBC buried a report with the headline “Man taken to hospital with ‘serious injuries’ after stabbing.”
Irish state media did the same.
The gap between what the footage shows and what official channels reported sparked immediate fury online.
The post continues, “…Ordinary people saved that man’s life. And while that was happening Keir Starmer was in Westminster figuring out how to arrest you for posting about it. Open borders. Two tier policing. Unarmed citizens fighting off attackers alone. This is the Britain Labour built.”
Others stated they wouldn’t have been surprised to see the locals who tried to subdue the attacker being arrested, a reference to revelations regarding the Henry Nowak case.
Leftist apologists immediately rushed to psychiatric excuses before any details emerge about the attacker’s identity, background, or possible motive.
The recurring question remains the same. How many of these daily attacks on native people have to happen before meaningful action in the form of closing the borders and mass remigration are instituted?
END
Britain On Edge As Mass Protests Expected After Attempted Beheading Attack By Migrant
Tuesday, Jun 09, 2026 – 01:53 PM
Summary:
- Tommy Robinson Says Mass Protests Expected Tonight
- Nation Horrified After Somali Migrant Attempted To Behead UK Citizen
- Belfast Horror: African Migrant Tries To Saw Off Victim’s Head In Street Attack
Mass Protests Expected In Coming Hours
Last night’s attempted beheading of a British man by a Somali migrant in Belfast is becoming a major flashpoint, with mass protests reportedly expected across more than 70 cities in the coming hours.
The attack has intensified public anger over Britain’s long-running, nation-killing mass migration policies, which have fueled chaos, violent crime, and a broader national security failure.
“Sh*t is about to hit the fan in Belfast” …
“The whole of the United Kingdom is hitting the streets tonight at 7 pm following yet another invader attack on our people,” activist Tommy Robinson wrote on X.
Robinson continued, “The invader who tried to behead someone in Belfast last night traveled from Sudan to Paris, flew from Paris to Dublin, then got a bus from Dublin to Belfast on 10th February 2023 and claimed ‘asylum’. The British government let him stay, and now this. Blood on their hands.”
Apparently, the government has dispatched water cannon trucks to Belfast ahead of the protests.
Elon Musk chimed in: “Only by protesting REPEATEDLY and LOUDLY will there be any change!!”
Musk was always right all along:
Tonight’s protests should be closely monitored for signs of escalation, as any broadening demonstrations could mark a political pressure point for the UK’s left-wing ruling class, which has failed the nation. If demonstrations spread across multiple cities and sustain momentum, the Belfast attack could unleash a nationwide backlash against elites who doomed the nation through mass migration.
Belfast Horror: African Migrant Tries To Saw Off Victim’s Head In Street Attack
Authored by Steve Watson via modernity,
Authorities and the media have scrambled to soften language around a graphic knife assault last night by an apparent African migrant that has left a local Belfast man fighting for his life with devastating injuries.
Horrific footage shows the attacker straddling the victim and repeatedly stabbing his head before sawing at his neck in a clear attempt to behead him. Bystanders screamed in horror as the attack unfolded. However, police have described it as nothing more than a “stabbing incident” involving “a man.”
The assault happened shortly after 10:30 pm on Monday on Kinnaird Avenue in north Belfast. The attacker hacked at his victim’s head and neck with a small boxcutter-style Stanley knife. Locals rushed in to drag the assailant off, batting him with blunt objects before police finally arrived.
Bystanders could be heard yelling: “He’s trying to cut his head off.”
The victim is understood to be alive in the hospital at the time of writing but has sustained life-altering injuries. Speculation online points to the possibility he has lost both eyes after the frenzied assault.
WARNING – EXTREMELY GRAPHIC VIDEO:
The Police Service of Northern Ireland issued a statement calling it merely a “stabbing incident.” They confirmed one man has been arrested and another taken to the hospital with serious injuries. There was no mention of the attacker’s background, immigration status, or the obvious attempt to decapitate the victim.
The media is not focusing on the incident.
The BBC buried a report with the headline “Man taken to hospital with ‘serious injuries’ after stabbing.”
Irish state media did the same.
The gap between what the footage shows and what official channels reported sparked immediate fury online.
The post continues, “…Ordinary people saved that man’s life. And while that was happening Keir Starmer was in Westminster figuring out how to arrest you for posting about it. Open borders. Two-tier policing. Unarmed citizens fighting off attackers alone. This is the British Labor Party built.”
Others stated they wouldn’t have been surprised to see the locals who tried to subdue the attacker being arrested, a reference to revelations regarding the Henry Nowak case.
Leftist apologists immediately rushed to psychiatric excuses before any details emerged about the attacker’s identity, background, or possible motive.
The recurring question remains the same. How many of these daily attacks on native people have to happen before meaningful action in the form of closing the borders and mass remigration is instituted?
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS//
ISRAEL/USA VS IRAN//TUESDAY MORNING
Trump Insists US In ‘Final Throes’ Of Iran Deal; Death Toll Soars As Israel Pounds South Lebanon
Tuesday, Jun 09, 2026 – 09:05 AM
The southern Lebanese city of Tyre is being pounded by Israeli airstrikes on Tuesday, despite President Trump’s insistence that Lebanon not come under attack. Israel’s military had hours prior issued an evacuation order for all civilians in the area, amid the unraveling and failing ceasefire.
Casualties are already high, coming at a tense moment after starting on Sunday Iran sent ballistic missiles against Israel over its renewed airstrikes on the southern suburbs of Beirut, where it says Hezbollah command centers are located.
The NY Times reports of the growing death toll Tuesday, “At least eight people were killed in the bombardment, and dozens more were wounded, Lebanon’s health ministry said. The Israeli military also targeted towns and villages across southern Lebanon, including areas that were not covered by evacuation warnings, according to the country’s state-run news agency.”
So clearly the air raids are expanding, per the report, even after the latest Trump warnings directed at Netanyahu to not do anything that would sabotage a broader Iran peace agreement.
President Trump is still maintaining that Washington and Tehran are in the “final throes” of cementing a deal, and is even suggesting (once again) that an agreement will be done in days:
Asked whether it would be matter of days or weeks, he said it would take “two or three days”.
Tehran has repeatedly stated any deal should include Lebanon—where Israel has been pressing its war with Iran-backed Hezbollah—and fired missiles at Israel on Sunday. That prompted Israeli retaliation, despite US pressure for restraint.
Iran fired another salvo before announcing it was ceasing military action, and hours later Israeli Prime Minister Benjamin Netanyahu announced that the “fire on that front is contained”.
Of course, we’ve been hearing that the war is merely ‘days’ away from ending from basically the start of the war. And yet, all too predictably, the two sides keep going up the escalation ladder in an escalation trap.
But the White House is saying that it will forge a deal which is good for the American people, whether Israel likes it or not. “Israel may like that, they may not like that — but this is in the best interest of the United States,” Vice President JD Vance spelled out to Fox this week.
Escalation: Houthis in Yemen unleash ballistic missile on southern Israel, as Hezbollah sends drones on north…
But in the meantime Lebanon continues to suffer, also as Hezbollah and most recently the Houthis out of Yemen fire projectiles on Israel. According to some of the latest via Al Jazeera:
For the residents in Tyre, anybody who is staying behind is in a lot of danger. In the past hour, we’ve seen another Israeli air strike near a Palestinian refugee camp.
The strike happened at a roundabout leading into the camp, a very busy location. There’s also a bus station right at the entrance to the el-Buss refugee camp. Initial reports are coming in of a lot of injuries in that attack.
Israel continues to carry out artillery fire on the city, and there are drones flying over Tyre. For anyone trying to get out of the city, the road is quite dangerous. There have been a series of air strikes north of Tyre along the same road people would use to exit.
So the Lebanon conflict is escalating, not growing more stable, which doesn’t bode well for achieving a final Iran deal. Tehran has insisted all along that a deal incorporate the Israel-Lebanon situation.
Vance had also said in his latest comments to Fox that “I think where the president has been very clear here is that while Israel obviously has some objectives that it has, the United States’ main objective in Iran is to ensure that Iran does not have a nuclear weapon.”
It seems Washington is willing to tolerate some Israeli ‘counter-terror’ action, but only up to a point. Probably the limits will be reached in more renewed bombings of Beirut itself. Tehran has been seeking to impose some red liens on IDF action in Lebanon, and the White House has so far appeared to respond with compromising language.
END
ISRAEL/IRAN/TUESDAY MORNING
Top Iranian official claims Tehran willing to negotiate with US, but its behavior ‘must change’
“If we could reach confidence that they are people of negotiation, then the Islamic Republic would have no problem with negotiating,” said top Iranian official Ebrahim Azizi.
Pakistan’s Prime Minister Shehbaz Sharif meets with Iranian Parliament Speaker Mohammad Bagher Ghalibaf, as delegations from the United States and Iran are expected to hold peace talks, in Islamabad, Pakistan, April 11, 2026.(photo credit: Office of the Iranian Parliament Speaker/WANA (West Asia News Agency)/Handout via REUTERS)ByARIELLA ROITMANJUNE 9, 2026 01:58Updated: JUNE 9, 2026 09:07
Iran would have “no problem” pursuing a deal with the US as long as American negotiators and US President Donald Trump can prove sincerity, the head of the Iranian parliament’s national security committee, Ebrahim Azizi, said during an interview with CNN on Monday.
When asked about Trump’s assertions that a deal between Tehran and Washington is near, Azizi responded that “we don’t think he’s honest.”
“We have said many times that we accept a negotiation as a continuation of the battlefield,” argued Azizi. “If we could be convinced that there is sincerity from the Americans, especially from the president of the US, and if we could reach confidence that they are people of negotiation and that they also submit to the rules of negotiation, then the Islamic Republic would have no problem with negotiating.”
‘Realistic framework’ needed for ceasefire
Azizi, who also heads Iran’s foreign policy committee, said the current biggest sticking point in the negotiations is the implementation of a realistic framework, which he claimed is being blocked by the US’s freezing of Iranian assets.
The Iranian official claimed that the US had initially agreed to release Iran’s frozen overseas assets during negotiations.
He added that Iran is still unwilling to budge on issues of enriched uranium and nuclear weapons.
When asked whether he thinks there will be a peace agreement, Azizi answered that it depends on US behavior. “If these same behaviors continue,” he said, “then no, we do not have any trust at all, and with this lack of trust, it’s not possible for negotiations to continue.
“If those conditions that the Islamic Republic of Iran specifies are fulfilled, and if in practice we see that reflected in the country’s national interests, especially in the economic sphere, financial matters, banking, sanctions, and the issue of Lebanon, which is very, very important to us, we will by no means back down on the issue of the resistance front, its members, and especially Lebanon,” he concluded.
Goldie Katz contributed to this report.
ISRAEL/USA VS IRAN//TUESDAY MORNING
I doubt very much a deal will happen!!
JERUSALEM POST
Trump says US to finalize Iran deal within days, achieve ‘total victory’ within two weeks
Meanwhile, Vice President JD Vance told Fox News that the US will reach a deal in its own interests with Iran, even if Israel disagrees or opposes it.
US President Donald Trump gestures as he boards Air Force One, after attending Game 3 of the NBA Finals, at John F. Kennedy International Airport in New York, June 8, 2026.(photo credit: REUTERS/Nathan Howard)
ByJERUSALEM POST STAFFJUNE 9, 2026 08:26Updated: JUNE 9, 2026 11:05
US President Donald Trump said on Tuesday that the United States will declare “total victory” over Iran within two weeks.
“You’re really gonna win this over the next two weeks when we declare total victory,” said Trump during a tele-rally for Republican Senator Lindsey Graham. “It’ll be a total victory, it will happen very soon, and oil prices will come tumbling down.”
Regarding American demands in the talks, Trump added that Iran’s negotiators are willing to give the US “everything.”
US will secure Iran deal even if Israel in opposition, Vance tells Fox News
Concurrently, Vice President JD Vance, in an interview with Fox News, echoed President Trump’s sentiments that the US intends to secure a long-term deal with Iran, and that, while those interests may overlap with Israel’s, any deal with Iran is intended to promote America’s interests above all. The US will secure a deal even in opposition to Israel.
AsVance said, “Israel may like it and it may not, but ultimately we believe it serves the interests of the United States.”We will continue to advance this move, because that is what the president of the United States was elected to do and that is what we must do to properly serve the American people.”
Trump says hostilities between Israel and Iran have stopped for now, and a deal could be done within two to three days
Additionally, Trump believes the current exchange of fire has ceased for now, telling Sky News in an interview, “I don’t think Israel will go back to fighting Iran…I don’t think it’s going to happen. Everything is going well.”
Trump doubled down on his comments that a deal with Iran will be finalized imminently, just before boarding Air Force One on the tarmac at JFK after taking in Game 3 of the NBA Finals in New York City.
Speaking to reporters, Trump said that a deal with Iran could be completed “within two or three days,” adding, “Iran and Israel have been trading blows with force, and now both have agreed, through me, to stop.”
“Netanyahu was hit, and he hit back, and I can’t blame him for that, but now they have called it quits, ” Trump said.
“We are in the final throes of what will be a very good deal that will not allow for nuclear weapons in any way, shape, or form.”
The statements were made after Iran and Israel had exchanged fire yesterday, following Israeli attacks on Hezbollah targets in Beirut, putting negotiations between the US and Iran in jeopardy.
END
USA //ISRAEL/IRAN
Oil Surges After Trump Says “US Must Respond To Iran Attack On Apache Helicopter”
Tuesday, Jun 09, 2026 – 12:45 PM
Summary:
- Trump says ‘US must respond’ after Iran downed Apache over Strait
- Trump says Washington and Tehran are in the “final throes” of cementing a deal, “two or three days”
- Iran shoots down US Apache helicopter over Strait, crew safe
- Despite Trump calls for Israeli ceasefire, casualties are rising in southern Lebanon
So much for the early hopes of an imminent deal…
Trump Reacts to Apache Downing, Threatens Response
Following earlier reports that a US AH-64 Apache helicopter had gone down over the Strait of Hormuz off the coast of Oman in an unprecedented first of the Iran war, moments ago Trump said on Truth Social that he had “been informed by our Great Military that last night the Iranians shot down one of our highly sophisticated Apache Helicopters while patrolling over the Strait of Hormuz. There were two pilots involved, both are safe and uninjured. Nevertheless, the United States must, of necessity, respond to this attack.“
The news that the US may imminently resume the Iran war – sent oil surging instantly…
… as Trump’s latest promise that a huge peace is coming appears to have unraveled yet again.
Trump Says In ‘Final Throes’ of Iran Deal… Again
President Trump is still maintaining that Washington and Tehran are in the “final throes” of cementing a deal, and is even suggesting (once again) that an agreement will be done in days:
Asked whether it would be matter of days or weeks, he said it would take “two or three days”.
Tehran has repeatedly stated any deal should include Lebanon—where Israel has been pressing its war with Iran-backed Hezbollah—and fired missiles at Israel on Sunday. That prompted Israeli retaliation, despite US pressure for restraint.
Iran fired another salvo before announcing it was ceasing military action, and hours later Israeli Prime Minister Benjamin Netanyahu announced that the “fire on that front is contained”.
Of course, we’ve been hearing that the war is merely ‘days’ away from ending from basically the start of the war. And yet, all too predictably, the two sides keep going up the escalation ladder in an escalation trap.
But the White House is saying that it will forge a deal which is good for the American people, whether Israel likes it or not. “Israel may like that, they may not like that — but this is in the best interest of the United States,” Vice President JD Vance spelled out to Fox this week.
US Apache Helicopter Shot Down over Strait, Crew Safe
A US helicopter has gone down over the Strait of Hormuz off the coast of Oman in an unprecedented first of the Iran war, Central Command announced Tuesday, after which the two crew members were reportedly rescued by unmanned boats.
The Army AH-64 Apache was patrolling regional waters before the downing incident, which is still shrouded in mystery, and which the Pentagon says it is now investigating. However, the Iranians are saying they know exactly what happened – insisting that the Apache was shot down.
“An AH-64 Apache attack helicopter belonging to the U.S. Army was shot down and destroyed by the IRGC Navy near the Strait of Hormuz, after ignoring warnings and being targeted by fired from one of our speedboats,” an Iranian military central command statement has said.
The NY Times, among the first to report the downing, underscores the claims and counter-claims concerning what happened:
It was not immediately clear whether the Apache was shot down by Iranian fire, experienced mechanical failure or encountered some other problem, said a person briefed on the incident, who spoke on the condition of anonymity. Central Command said in a statement that the incident was under investigation.
But the Pentagon says the crew was successfully rescued. The unusual rescue by unmanned boats adds another layer of complexity and strangeness to the story.
“A Task Force 59 unmanned surface vessel, essentially a drone boat, found and rescued the soldiers,” spokesperson Capt. Tim Hawkins described to NBC News. The pair of pilots are now receiving medical care, he indicated, after their rescue came within two hours of the aircraft going down.
Trump briefly spoke to journalists at John F. Kennedy International Airport in New York after watching the NBA Finals on Monday night and he acknowledged the rare crash in the Persian Gulf.
“The pilots are fine. Yeah,” Trump said. “Nobody injured. We are going to issue a report tomorrow. But the pilots are fine.”
Apaches, along with A-10 gunships, have been frequently used for low-flying operations in the Persian Gulf and Hormuz region, in order to attack Iranian small boast.
As for the Iranian claims of shootdown, it remains a top most plausible scenario, but the Pentagon has not said whether it took on Iranian fire.
FOX: American military forces, including U.S. Naval Forces Central Command, the 82nd Airborne Division, and U.S. 5th Fleet assets, helped bring both soldiers to safety.
During earlier operations connected to Epic Fury, other US military aerial assets have crashed or sustained damage over the region – however, the Pentagon has downplayed or rejected efforts to link a number of incidents to Iranian attack, apparently not wishing to give Tehran a battlefield ‘success’ acknowledgement.
But many independent pundits have suspected that all along the Iranians have been hitting a lot more American assets than previously disclosed.
Death Toll Soars As Israel Pounds South Lebanon
The southern Lebanese city of Tyre is being pounded by Israeli airstrikes on Tuesday, despite President Trump’s insistence that Lebanon not come under attack. Israel’s military had hours prior issued an evacuation order for all civilians in the area, amid the unraveling and failing ceasefire.
Casualties are already high, coming at a tense moment after starting on Sunday Iran sent ballistic missiles against Israel over its renewed airstrikes on the southern suburbs of Beirut, where it says Hezbollah command centers are located.
The NY Times reports of the growing death toll Tuesday, “At least eight people were killed in the bombardment, and dozens more were wounded, Lebanon’s health ministry said. The Israeli military also targeted towns and villages across southern Lebanon, including areas that were not covered by evacuation warnings, according to the country’s state-run news agency.”
So clearly the air raids are expanding, per the report, even after the latest Trump warnings directed at Netanyahu to not do anything that would sabotage a broader Iran peace agreement.
ISRAEL TBN
END
HEZBOLLAH
Netanyahu says he won’t allow for Iran, Hezbollah to establish ‘new security paradigm for Israel’
“Israel has the full right to defend itself, and it will use that right as much as needed,” the prime minister said.
Prime Minister Benjamin Netanyahu walks outside his office at the Knesset, the Israeli parliament in Jerusalem, June 3, 2026.(photo credit: YONATAN SINDEL/FLASH90)ByJERUSALEM POST STAFFJUNE 8, 2026 17:50Updated: JUNE 8, 2026 21:13
Prime Minister Benjamin Netanyahu released a pre-recorded press statement on Monday evening, in which he stated that he would not allow Israel’s enemies to dictate the state’s security paradigm.
“Israel has the full right to defend itself, and it will use that right as much as needed,” the prime minister said, adding: “I say this to you as I say it with respect and appreciation to my friend President [Donald] Trump.”
Netanyahu also indicated that he was in contact with the US president.
“I told Trump: ‘Together, we will bring safety to the North.’”
Defense Minister Katz warns any attack on Israel’s North ‘will result in an attack on Dahiyeh’
Israel will continue to attack the Beirut neighborhood of Dahiyeh if Hezbollah continues to attack Israel’s northern region, Defense Minister Israel Katz said earlier on Monday afternoon.
“We reject Iran’s threats outright,” Katz added. “Any attempt by Iran to use ties with Lebanon to attack Israel will be met with great force.”
Smotrich reportedly proposes attacking 20-30 buildings in Dahiyeh for every Iranian missile
Finance Minister Bezalel Smotrich, on Monday, reportedly proposed to the Security Cabinet that Israel strike 20 to 30 buildings in Beirut’s Dahiyeh for every Iranian missile launched towards Israel.
Dahiyeh is a suburb south of Beirut where Hezbollah has a strong presence. The IDF struck Dahiyeh on Sunday, which Iran used as a trigger to begin launching waves of missiles toward Israel on Sunday evening.
The apparent logic behind Smotrich’s plan is that striking Beirut in this manner would affect Iran’s calculations with regard to the Islamic regime’s connection to Lebanon.
Additionally, destroying 1,000 to 2,000 buildings in Dahiyeh would strengthen security and create a deterrent for years to come within Lebanon.
Direct hit damages houses in West Bank, hospitals move underground
Meanwhile, a direct hit from an Iranian missile damaged four houses in a West Bank town on Monday morning as Iran launched several waves of missile attacks on Monday morning, following an earlier rocket launch by Yemen’s Houthis.
No injuries were reported, according to the local regional council.
“The incident ended in a great miracle,” said Samaria Regional Council head Yossi Dagan, “but it illustrates the urgent need to strengthen protection in the communities.”
Following instructions from the Health Ministry and IDF’s Home Front Command, Sourasky Medical Center’s Ichilov Hospital in Tel Aviv, the Galilee Medical Center in Nahariya, and Tzafon Medical Center in Poriya have shifted into emergency protocol, moving their operations underground and into protected spaces.
“We are prepared to provide the best and safest medical response to the residents of the North, and we will continue to do so under any scenario and situation,” Galilee Medical Center Director Prof. Masad Barhoum said.
IDF Chief of Staff Lt.-Gen. Eyal Zamir and senior military officers are orchestrating and commanding strikes from an Israel Air Force bunker, the military said on Monday morning, adding that it is “alert and ready for continued action on all fronts against those who threaten the State of Israel.”
Following Iran’s strikes, the Islamic Revolutionary Guard Corps (IRGC) on Monday claimed that it had targeted the Tel Nof and Nevatim IAF bases in response to Israel’s strikes on Iranian territory and in memory of their dead from the 12 Day War in June 2025, according to Iran’s IRGC-affiliated Tasnim News Agency.
An IRGC spokesperson told Tasnim, “This operation was carried out in response to the child-killing Zionist regime’s missile aggression against several radar sites in three parts of the country.”
Amichai Stein contributed to this report.
END
LEBANON/ISRAEL/HEZBOLLAH
Lebanon’s Aoun urges Israel to pursue talks, not war; says he won’t meet Netanyahu until deal signed
Lebanese president says any agreement will be a non-agression pact and not a peace deal, conditioning normalization of Jerusalem-Beirut ties on establishment of Palestinian state
A photograph taken from the southern city of Tyre shows people sunbathing on the beach, as smoke rises from the site of an Israeli airstrike on Hezbollah in the village of Deir Qanoun Ras al-Ain on June 8, 2026. (Kawnat Haju/AFP)
Lebanese President Joseph Aoun made a rare public appeal to the Israeli government and people in an interview with CNN, saying a military solution “will never provide you with security and safety” for the people in northern Israel.
“We are ready, we are willing, we are committed. Are you? If you are, let’s sit and talk,” said Aoun.
The Lebanese government is in direct talks with Israel, mediated by Washington, to reach a full cessation of hostilities, despite opposition by the Hezbollah terror group.
“We are fed up and we want to live in peace,” Aoun said, adding that the Lebanese people “deserve to live in peace and in dignity, they deserve not seeing their homes being destroyed every five to 10 years.”
Regarding Israel’s military operations, the Lebanese president said: “They can invade the whole country, they can flatten the whole country, but they will never be able to achieve their objective.”
He ruled out meeting with Prime Minister Benjamin Netanyahu before reaching an agreement to end the war, which he said would be a non-aggression pact and not a full peace deal.
“We need to end the state of hostility between Lebanon and Israel. Forever. And this (pact) could be a path forward for a just and lasting peace.”
Aoun said Lebanon would move in line with the Saudi-sponsored 2002 Arab Peace Initiative, which offers Israel normalized ties with the entire Arab world once it reaches a two-state solution to its conflict with the Palestinians.
“But we cannot jump from A to B directly. We have to go through different steps,” Aoun said.
Lebanese dying for Iran’s interests, Aoun says
The war erupted on March 2 when Hezbollah fired on Israel to avenge the February 28 US-Israeli killing of Iran’s supreme leader, with Israel responding with an extensive campaign of airstrikes and a ground invasion.
The US declared a ceasefire on April 16 but fighting has continued, and Lebanon says Israel has carried out nearly 3,500 strikes since the truce was announced, while Hezbollah has continued to attack northern Israeli communities and military posts as well as troops in southern Lebanon.
Israel struck Beirut’s southern suburbs on Sunday in retaliation for Hezbollah fire on northern Israel, triggering a 24-hour direct exchange of fire between Iran and Israel before each announced they were halting attacks after US President Donald Trump declared both sides “must immediately stop ‘shooting’” amid his efforts to reach a deal with Tehran.
Fighting however continued Monday and into early Tuesday, with Lebanon’s health ministry reporting seven killed in Israeli strikes — including five in in Tyre, where the IDF issued an evacuation warning — since Iran’s threat to attack Israel again if it continued striking Hezbollah.
Iran-backed Hezbollah meanwhile said it had targeted Israeli troops inside Lebanon, but did not claim any attacks on Israeli territory.
Aoun told CNN that Lebanon sought a good relationship with Iran based on mutual respect and non-interference, and said Lebanon’s people were being killed to serve Iran’s interests.
In an earlier clip from the interview aired on Friday, Aoun accused Iran of using Lebanon as a bargaining chip in its talks with the United States, in some of his toughest criticism yet of Tehran.
END
HEZBOLLAH/ISRAEL
IDF issues evacuation for Tyre, southern Lebanon, after reported strikes near city
The IDF issued an evacuation order for Tyre, southern Lebanon, including the Christian Quarter, on Tuesday morning, IDF Arabic Spokesperson Col. (res.) Avichay Adraee confirmed on X/Twitter.
The evacuation order also included neighborhoods and villages surrounding Tyre.
Residents of the coastal city are advised to move north of the Zahrani River, Adraee said.
Earlier on Monday, local media reports claimed that the IDF carried out airstrikes on a village in the area.
Maariv contributed to this report.
END
IRAN/USA TUESDAY MORNING
Apache Helicopter Downed Near Strait Of Hormuz In Iran War First, Crew Rescued
Tuesday, Jun 09, 2026 – 08:05 AM
A US helicopter has gone down over the Strait of Hormuz off the coast of Oman in an unprecedented first of the Iran war, Central Command announced Tuesday, after which the two crew members were reportedly rescued by unmanned boats.
The Army AH-64 Apache was patrolling regional waters before the downing incident, which is still shrouded in mystery, and which the Pentagon says it is now investigating. However, the Iranians are saying they know exactly what happened – insisting that the Apache was shot down.
“An AH-64 Apache attack helicopter belonging to the U.S. Army was shot down and destroyed by the IRGC Navy near the Strait of Hormuz, after ignoring warnings and being targeted by fired from one of our speedboats,” an Iranian military central command statement has said.
The NY Times, among the first to report the downing, underscores the claims and counter-claims concerning what happened:
It was not immediately clear whether the Apache was shot down by Iranian fire, experienced mechanical failure or encountered some other problem, said a person briefed on the incident, who spoke on the condition of anonymity. Central Command said in a statement that the incident was under investigation.
But the Pentagon says the crew was successfully rescued. The unusual rescue by unmanned boats adds another layer of complexity and strangeness to the story.
“A Task Force 59 unmanned surface vessel, essentially a drone boat, found and rescued the soldiers,” spokesperson Capt. Tim Hawkins described to NBC News. The pair of pilots are now receiving medical care, he indicated, after their rescue came within two hours of the aircraft going down.
Trump briefly spoke to journalists at John F. Kennedy International Airport in New York after watching the NBA Finals on Monday night and he acknowledged the rare crash in the Persian Gulf.
“The pilots are fine. Yeah,” Trump said. “Nobody injured. We are going to issue a report tomorrow. But the pilots are fine.”
Apaches, along with A-10 gunships, have been frequently used for low-flying operations in the Persian Gulf and Hormuz region, in order to attack Iranian small boast.
As for the Iranian claims of shootdown, it remains a top most plausible scenario, but the Pentagon has not said whether it took on Iranian fire.
FOX: American military forces, including U.S. Naval Forces Central Command, the 82nd Airborne Division, and U.S. 5th Fleet assets, helped bring both soldiers to safety.
During earlier operations connected to Epic Fury, other US military aerial assets have crashed or sustained damage over the region – however, the Pentagon has downplayed or rejected efforts to link a number of incidents to Iranian attack, apparently not wishing to give Tehran a battlefield ‘success’ acknowledgement.
But many independent pundits have suspected that all along the Iranians have been hitting a lot more American assets than previously disclosed.
IRAN/ISRAEL/USA
EPOCH TIMES…
5 Future Scenarios For Post-Conflict Iran
Tuesday, Jun 09, 2026 – 05:00 AM
Authored by Christian Milord via The Epoch Times,
There likely are more than five scenarios that Iranians could opt for as hostilities unwind, but the following five visions represent the paths Iran could take this year. Will 2026 onward become the Third Islamic Republic, following the first (1979-1989) and the second (1989-2026)? We can only speculate on the outcome of this third evolution, which might or might not be powered by clerics.
First, in the fluid situation on the ground in Iran, There are many forces at work. When the dust clears, Iran might fall right back into the same rut it has traversed since 1979. Supreme Leader Mojtaba Khamenei might be at the top of the pyramid, while President Masoud Pezeshkian and members of the Assembly of Experts, Cabinet, Courts, Guardian Council, and Parliament will appear to remain loyal to the ideology of militant Shia Islam. Over 80 percent of Iranians are Shia, while the remainder are adherents of Sunni Islam, the Baha’i faith, Christianity, and inter-religious practitioners.
In this scenario, the dreaded Islamic Revolutionary Guard Corps (IRGC) would continue to hold sway as a parallel military force to the national armed forces (Artesh) of Iran – which is by now also fully under the control of the Islamic Republic. While similar to the oppressive prior Mukhabarat (internal intelligence/security) in Saddam Hussein’s Iraq and the Assad dynasty in Syria, the IRGC has both an external and internal arm that metes out its own version of justice abroad and at home. Once again, Iranians would be forced to look over their shoulder and censor their own behavior. The regime would rebuild its military weapons arsenal, fund foreign terror proxies, and manipulate the Strait of Hormuz chokepoint with inspections and tolls.
Next, when the conflict concludes and a ceasefire holds, balkanization of the nation might unfold. In Iran, there are large numbers of Balochs, Kurds, Turkmen, etc., who will compete to defend their own interests in a country divided by a limited economic pie. It will be difficult for the regime to rebuild its military arsenal following months of devastation.
Third, following a tenuous ceasefire and shuttle diplomacy, Iran will descend into civil war. There are parallels between Iran’s current status and Syria under the rule of Bashar al-Assad (2000-2024). Both paranoid regimes have had little trust in their own citizens to handle freedom and opportunity. Bashar was far more brutal than his father, Hafez al-Assad (1971-2000), and his harsh measures against protests plunged Syria into civil conflict for thirteen years (2011-2024).
Apparently, Mojtaba Khamenei is more hardline than his father, and as supreme leader he would attempt to crush any voices for democracy and justice. His interlocking relationship with the IRGC would help to pave the way to widespread oppression. The outcome of this civil war would be difficult to predict since Iran has a much larger population than Syria, and periodic demands for civil and economic reform often unfold in several urban areas.
Fourth, If a ceasefire is effective and the free flow of commerce commences through the Strait of Hormuz, will Iranians look to the past as a guide to build a brighter future? Will they reject the excesses of the Islamic Republic and seek to create greater economic opportunity and equality for women? It appears as if a large portion of Iranians would favor exiled diaspora leaders such as Crown Prince Reza Pahlavi as a transitional figure to assist internal reformers in shaping a representative government. Of course, the brutal IRGC would attempt to thwart any reformist movement.
Fifth, this last scenario offers some hope. Are the remnants of the Islamic Republic leadership capable of turning away from permanent conflict? Through intense negotiations with several stakeholders, there is a breakthrough to possible peace and security. Instead of merely paying lip service to basic reforms, Iran’s leadership would agree to allow for greater freedoms for women, hold open elections, and promote economic growth.
That would include discarding kangaroo court trials that deny rights to Iranians who are arrested. While Iran doesn’t have a history of democracy, incremental baby steps in that direction could occur for the sake of Iran’s future prosperity and security. The regime would agree to cease funding foreign terror proxies, surrender the half ton of enriched uranium that’s underground, halt the production of long range ballistic missiles, and free up the Strait of Hormuz to global commerce.
In this scenario, it’s possible that former Presidents Mahmoud Ahmadinejad, Mohammed Khatami, and Hassan Rouhani would be consulted on reforms that formerly were vetoed by Parliament and the supreme leader. Incrementally normalizing relations with Israel and other regional states could gradually unfold, although signing up to the Abraham Accords might be a tall order. If this fifth option fails, Iran might be doomed to repeat history once again.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
END
Trump’s Economic Shield Cracks As Gas Prices And Iran Standoff Threaten Midterm Fortunes
Tuesday, Jun 09, 2026 – 10:35 AM
As we continue to ‘enjoy’ expensive gas across the country thanks to a broken campaign promise not to start new wars, President Donald Trump enters the 2026 midterm campaign with an unfamiliar vulnerability: voters are feeling the pain.
High gasoline prices, fueled by the prolonged U.S. military confrontation with Iran and disruptions in the Strait of Hormuz, have turned inflation into a daily political problem for the White House. Trump’s approval ratings have fallen near the lowest point of either of his presidential terms, with especially sharp declines in approval over the economy – long one of his strongest political defenses. Public frustration over affordability, a concern that helped return him to the White House, has not eased.
Source: RealClearPolitics
The White House, meanwhile, is touting tax refunds delivered under last year’s legislation, and the administration’s promise of abundant domestic energy. But those messages have been overshadowed by the reality on Main St.
“I think the president was being truthful when he said he really didn’t care about the midterms,” said Mick Mulvaney, former acting White House chief of staff. “But House and Senate Republicans do care. And if gas is still north of $4 by Labor Day, everybody in town knows that means trouble for the incumbent party. Big trouble.“
Even if the Iran war ended tomorrow, some economists think that the damage already done to oil infrastructure – and the risks of renewed fighting, will keep upward pressure on prices.
“We think that the drag on the economy due to the war will weigh heavily on household consumption among middle-class, working-class and the working poor ahead of the November congressional election,” said Joseph Brusuelas, chief economist at RSM US.
Source: Bloomberg economist surveys. Note: Inflation = PCE price index.
Consumer sentiment has weakened across party lines, including among Republicans and independents. Inflation reached 3.8% in April, while grocery prices posted their largest increase in nearly four years. Inflation-adjusted hourly earnings declined for the first time in three years, and the personal savings rate fell to a multi-year low.
As we noted on Monday, Median inflation uncertainty, or the uncertainty expressed regarding future inflation outcomes, increased at the one-year and three-year-ahead horizons and decreased at the five-year-ahead horizon.
What’s Going Well
Unemployment is still low by historical standards, with employers adding 172,000 jobs in May, capping the strongest three-month hiring stretch in more than two years. Separately, the household survey showed native-born employment rising by 294,000 in May, while foreign-born employment fell by 176,000. (compare April to May, table A-7). Consumer spending has also held up, helped in part by larger tax refunds for many households.
Artificial intelligence investment – albeit a massive circle-jerk, continues to drive manufacturing expansion, producing the longest stretch of factory growth since 2022 and helping push stock markets to record highs. Trump frequently points to those gains as evidence that his economic program is working.
But the benefits have been uneven. The share of national income going to workers through wages and salaries sits at an all-time low, reinforcing concerns about a K-shaped recovery. Corporate profits and asset values have surged for higher-income Americans, while many families continue to feel squeezed by everyday costs.
“When moms and dads lie down to sleep at night and can’t, one of the things they’re most worried about is the cost of living,” Louisiana Sen. John Kennedy told Bloomberg. “I think we have a good story to tell on what we’ve done… but I wish the president would talk more about it.”
And here come Midterms…
Republicans hold a narrow House majority and face the historical headwind that typically confronts a president’s party in midterm elections. Trump has warned that a Democratic House could pursue impeachment, as it did during his first term. The Senate majority appears more secure, but it could still be tested if economic frustration deepens in key states.
That said, Trump is hardly limping into the midterms. Recent Republican primaries have shown his grip on the GOP remains intact, from Trump-backed Ed Gallrein’s ouster of Rep. Thomas Massie in Kentucky, to Andy Barr’s win in the Kentucky Senate primary after Trump’s late endorsement, to Tommy Tuberville’s landslide in the Alabama governor primary. But primary dominance may not translate to general-election resilience, especially if independents and working-class swing voters are voting on gas prices, grocery bills, mortgage rates and war fatigue.
An idea: quickly end the war?
END
RUSSIA VS UKRAINE
6/.GLOBAL ISSUES, COVID ISSUES, VACCINE INJURIES/HEALTH ISSUES
GLOBAL ISSUES
A world going nuts
The Middle East is a mess. No imminent solution appears on the horizon. The result unchecked will be a much worse energy situation within 2 months as there simply will be shortages that affect food supply. Worse, sovereign default should not be ruled out.
Taiwan is in the Chinese crosshairs. It is why Trump said chip companies there should come to America sooner than later. China may move on Taiwan as early as August.
The goodwill set in Alaska is gone. Trump no longer wishes to negotiate the Ukraine fiasco with Russia. This is a disaster beyond anything you will hear until Russia moves. And they are moving. This white gloved treatment of Ukraine will be over in the fall. And the tolerance of NATO will show reality before Christmas.
How anyone thinks that war is the answer is beyond nuts. You need energy to grease a war machine and there is a lack of energy and money in the West. The visit to North Korea by Xi is not what the media says.
As for midterms they maybe cancelled.
The timelines for war are being accelerated . Why? Take a guess.
In any case, none of this will end well.
END
HEALTH ISSUES”
Flesh-Eating Cattle Screwworm Spreads Beyond Texas As USDA Accelerates Eradication Push
Tuesday, Jun 09, 2026 – 11:20 AM
The U.S. Department of Agriculture confirmed three more New World screwworm (NWS) cases, bringing total detections to five and heightening concerns that the flesh-eating pest, once eradicated in the 1960s, could threaten the nation’s already strained cattle industry.
The latest NWS cases include three calves and a goat in Texas, along with a small dog in Lea County, New Mexico, marking the first confirmed case in that state, according to the USDA. The dog had not traveled to Mexico or Texas, prompting authorities to investigate the surrounding property for fly larvae that feed on living flesh rather than dead material.
“Over the past week, USDA has identified and expeditiously confronted four confirmed detections of NWS. While we address these instances that require immediate attention, and continue to sample suspected cases, we are simultaneously working to eradicate the pest entirely,” Dudley Hoskins, the USDA’s marketing and regulatory undersecretary, said in a statement.
The first NWS cases were discovered last week in calves a few miles apart in South Texas:
The second case:
Cases were announced Monday in a calf in La Salle County, southwest of San Antonio, and in a goat in Gillespie County, west of Austin.
University of Florida entomologist Edward Burgess told AP News that new NWS cases may emerge in the coming days and weeks, but that does not necessarily mean the pest is spreading.
“When that first case is seen, everyone is being vigilant and their eyes are on it more intensely,” Burgess said. “And when you are looking for something, you are more likely to see it.”
Well…
Texas Gov. Greg Abbott and USDA Secretary Brooke Rollins explained on Monday the USDA’s “War on Screwworm” plan to eradicate NWS.
The rising number of NWS cases in the U.S. poses a threat to the nation’s cattle herd if the spread runs rampant, especially with herd size already at a 75-year low, beef prices at record highs …
…and meatpackers under pressure from fewer and more expensive animals. We recommend that readers review the note from Goldman analyst Thiago Bortoluci on NWS.
END
ROBERT H…
DRUG OF CHOICE FOR THE SCREWWORM: IVERMECTIN
Nicolas Hulscher, MPH on X: “IVERMECTIN KILLS NEW WORLD SCREWWORMS IN BOTH HUMANS AND ANIMALS LIVESTOCK: 12 studies found 97%+ prevention of New World screwworm infestation in cattle wounds HUMANS: Documented complete larval elimination in severe oral and eye socket infestations “Horse paste” wins again. https://t.co/3v1SnvoJMx” / X
MARK CRISPIN MILLER
DR PAUL ALEXANDER
RABOBANK/MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
Trump-Netanyahu “Differences”: A Good Cop-Bad Cop Routine
Tuesday, Jun 09, 2026 – 09:45 AM
By Michael Every of Rabobank
As You Were… But As Who Was?
Yesterday nearly saw a full restart of the Israel-Iran war, apparently pulled back from the brink by intervention from President Trump. After yet another Middle East rollercoaster for markets it’s now ‘as you were’, with oil –so everything else– little changed. The larger issue behind that pricing, however, is the key question – ‘As who was?’
Iran set up its proxy network, centered on terror group Hezbollah in Lebanon, to protect itself: if Israel attacked it, Hezbollah would attack Israel. However, Tehran now has to attack Israel, with counterattacks on it in response, to defend its ‘shield’. That’s a huge Iranian strategic setback. As such, Tehran is trying to tie Israel vs. Hezbollah to itself vs. the US to divide the US from Israel, which now have different needs: a deal vs. finishing the job militarily or via regime change. That dynamic has huge implications for when and how this war ends, so for energy, so for markets.
While Israel and Iran say they will stop their attacks, Israeli PM Netanyahu last night gave a public address where he stated: “Iran and Hezbollah are weaker than ever, and we are stronger than ever – but our battle against them is still not finished. In the last 24 hours, Iran and Hezbollah tried to impose a new equation upon us… an equation I find intolerable and unacceptable. They thought they would fire at Israel from Lebanese territory and from Iran – and we would not act. That did not happen, and it will not happen. Not on my watch!… At the moment, we are holding our fire, because after we struck the terror regime in Tehran, it ceased attacking us. In the event that Iran makes the mistake of resuming attacks on us – we will respond with overwhelming force.”
Moreover, Israel will hit Hezbollah in Beirut if it fires at Israel from south Lebanon, which Iran says is a red line that will trigger more attacks on the Jewish state, restarting this war.
If Iran tells Hezbollah to ceasefire, markets can relax;
If not, and Israel hits Hezbollah, Iran has to decide if it wants to fire at Israel – and restart the war;
If Trump forces Israel to hold back vs. Hezbollah, Iran will have linked the two fronts and divided the US and Israel – which likely sees more war.
After all, Israel’s 1948 War of Independence, its 1967 Six-Day War, its 1981 attack on Iraq’s nuclear programme, and its 2007 strike against Syria’s nuclear programme all took place against US wishes. To expect otherwise this time is unwise. Indeed, Trump-Netanyahu differences could be a good cop-bad cop routine to allow the US to push for a deal while Israel does the fighting.
In the background, Yemen’s Houthis claim they will restart a maritime blockade of Israel in the Red Sea, which was applied far more broadly the last time they put it in place. Obviously, that can threaten cargo and energy flows at this juncture, as a US Navy F-18 struck and disabled an oil tanker in the Gulf of Oman and the EU hit Iran’s Navy… with sanctions.
In short, this crisis is far from over, even as Trump says “total victory” will be declared in the next two weeks as Iranian negotiators are “willing to give us everything,” and VP Vance added that the deal being discussed was “a home run” for the US. Yet the inside baseball question remains which negotiators the US is talking to given local reports that contact has been lost with Supreme Leader Khamenei Jr. and another that IRGV leader Vahidi was killed in a recent Israeli strike.
Elsewhere in geopolitics, Berlin says the Franco-German fighter jet project is dead, a major blow to future pan-European defence plans; Switzerland is weighing a Franco-Italian alternative to US air defences given a 5-year wait for the latter; and a French fighter jet shot down a suspected Russian drone in Latvian airspace.
That’s as Germany claimed it’s ready to take the reins from the US in talks with Putin despite Russia rejecting Ukrainian and European peace initiatives, saying instead that the battlefield will decide the war – but as Moscow pauses its CCTV systems after Israel hacked Iran’s to target its Supreme Leader. Back in the UK, a secret camera was found in the ceiling panel of the room in a sensitive government building where the decision was made to approve the new Chinese embassy.
Showing how lines on the map can move as the driver of lines on the screen, the US is considering buying the Chagos Islands to take control of the strategic UK airbase on Diego Garcia; Mauritius, whom the UK is controversially trying to hand the islands to, is today demanding they get them ASAP to avoid that outcome.
China’s Xi Jinping, on a state visit, pledged “unwavering” support for North Korea, making some things crystal clear, as Bloomberg publishes its estimates for the economic damage from a war over Taiwan: $10 trillion, apparently. Which justifies or incentivizes doing what as insurance?
In LatAm, Peru is set for lengthy vote count as its presidential race is still too close to call, and Colombia will see a presidential runoff ahead following the leftist Cepeda’s first round election loss.
In geoeconomics, the US added Alibaba, BYD and other Chinese tech champions to its military company blacklist. That’s as Anthropic’s Mythos can reportedly now exploit new software flaws in mere hours and OpenAI gets ready for its IPO, Trump is mirroring Bernie Sanders in arguing the state should get stakes in AI giants – and presumably not just in military and security areas but across the economic spectrum. To say we are moving the political-economy Overton Window is an understatement: at this stage are there any actual windows left? Indeed, could the walls and the roof fall in on conventional analysis using conventional wisdom?
The European press talks of how ‘China is killing Europe’s chemicals industry. Brussels wants to intervene’ and France’s Macron is reportedly to court China to get them to address trade imbalances – offering and threatening what exactly?
Indonesia is also weighing export rule exemptions for commodity traders to try to calm local markets after the recent de facto state control of that key area of the economy.
At the same time, Trump’s $100,000 H-1B visa fee was declared an unlawful “tax” by a US judge, as were his tariffs of course, which will now be appealed (was the lower via fee also a tax? If not, why not?).
As you were then… but as who was? And what will we be soon – besides confused?
END
7. OIL AND NATURAL GAS ISSUES
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
END.
CUBA/USA
Report Says Cuba Mobilizing Militias As U.S. Invasion Fears On The Rise
Monday, Jun 08, 2026 – 11:00 PM
Weeks after Cuba’s leader warned that any U.S. military action against the communist-controlled Caribbean island nation would be a “bloodbath” and risk destabilizing the region, local media reported that the regime had begun handing out weapons to ordinary citizens. Other reports, however, dispute that claim and suggest Havana is instead mobilizing its territorial militias. Either way, the signal is hard to ignore: Cuba is shifting into a higher defensive posture.
Venezuelan news outlet Diario Versión Final reports:
The Havana government has begun distributing weapons to ordinary citizens, officially urging them to prepare for an imminent foreign invasion.
However, The Times and The Sunday Times reporter Stephen Gibbs said reports that Cuba is handing out weapons to civilians are not true “for obvious reasons,” adding, “It is mobilizing its milicias de tropas territoriales, and some weapons have reportedly been handed to firefighters, etc.”
Additional militia report:
Last week, the U.S. slapped sanctions on Cuban President Miguel Díaz-Canel, his wife Lis Cuesta Peraza, his stepson Manuel Anido Cuesta, and members of the Castro family as the Trump administration mounts a six-month economic pressure campaign against the communist regime. Other sanctions targeted Cuban foreign influence networks tied to U.S. left-wing NGOs.
The escalation in the pressure campaign comes as the growing U.S. naval presence in the region is described as the largest outside the Middle East, with the USS Nimitz carrier strike group, guided-missile destroyers and cruisers, surveillance aircraft, and drones operating near the island.
Secretary of State Marco Rubio recently said Havana is “in a lot of trouble,” warning that a failed state just south of Florida represents a national security threat.
President Díaz-Canel warned last week, “If it were to materialize [U.S. invasion], it would trigger a bloodbath with incalculable consequences, plus the destructive impact on regional peace and stability.”
Those “incalculable consequences” Díaz-Canel referenced were not defined. But recent warnings point to a broader threat spectrum, ranging from potential drone threats against the U.S. homeland to the risk that radicalized U.S.-based NGO networks tied to the Cuban Institute of Friendship with the Peoples, or ICAP, could be activated to sow chaos on U.S. streets. That may help explain why Rubio moved to sanction the entity.
Polymarket odds for a Cuban invasion by the end of the year stand at 40%.
Tick tock. Tick tock.
US strike on Cuba by December 31?
Yes 39% · No 61%
View full market & trade on Polymarket
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 6;30AM//OPENING AND CLOSING
OPENING LEVELS OF CURRENCIES// AND CLOSING ASIAN STOCK MARKET AND OPENING EUROPEAN STOCKS:6 AM EST
EURO VS USA DOLLAR: 1.1563 UP 0.0034
USA/ YEN 160.19 UP 0.014 NOW TARGETS INTEREST RATE AT 1.75% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//END OF YEN CARRY TRADE BEGINS AGAIN DEC 2024/Bank of Japan raises rates by .25% TO 1.75 ..TAKAICHI NEW PM AS YIELDS RISE//JAPAN DEEPLY IN TROUBLE WITH RISING RATES AND A FALLING YEN!!
GBP/USA 1.3389 UP 0.0056 OR 56 BASIS PTS
USA/CAN DOLLAR: 1.3935 DOWN 0.0022 //CDN DOLLAR UP 22 BASIS PTS//
Last night Shanghai COMPOSITE CLOSED UP 50.69 PTS OR 1.28%
Hang Seng CLOSED DOWN 91.16 PTS OR 0.37%
AUSTRALIA CLOSED UP 1.37%
// EUROPEAN BOURSE: ALL MOSTLY GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MOSTLY GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 91.16 PTS OR 0.37%
/SHANGHAI CLOSED UP 50.69 OR 1,28%
AUSTRALIA BOURSE CLOSED UP 1.37%
(Nikkei (Japan) CLOSED DOWN 1226.40 PTS OR 1.92%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: $4334.60
silver:$68.51
USA DOLLAR VS TRY (TURKISH LIRA): 46.12 PLUS 2 BASIS PTS AND NOW WE SEE THEIR STUPIDITY OF SELLING SOME OF THEIR GOLD AND ALL OF THEIR USA DOLLAR RESERVES. THE COUNTRY IS IN BIG FINANCIAL TROUBLE
USA DOLLAR VS RUSSIAN ROUBLE: 71.66 ROUBLE// UP 1 ROUBLE AND 31 BASIS PTS. WOULD YOU BELIEVE THAT THE RUSSIAN ROUBLE AND THE ISRAEL SHEKEL ARE THE STRONGEST CURRENCIES BESIDES THE DOLLAR .
UK 10 YR BOND YIELD: 4.9390 DOWN 1 BASIS PTS
UK 30 YR BOND YIELD: 5.624 DOWN 0 BASIS PTS
CDN 10 YR BOND YIELD: 3.5110 DOWN 2 BASIS PTS
CDN 5 YR BOND YIELD; 3.168 DOWN 2 BASIS PTS
USA dollar index early TUESDAY MORNING: 99.99 DOWN 6 BASIS POINTS FROM MONDAY’s CLOSE
TUESDAY MORNING NUMBERS ENDS
And now your closing MONDAY NUMBERS 10.00 AM
Portuguese 10 year bond yield: 3.446% DOWN 1 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +2.670% DOWN 5 FULL POINTS BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.866 DOWN 7 BASIS PTS//
SPANISH 10 YR BOND YIELD: 3.497 DOWN 0 in basis points yield
ITALY 10 YR BOND: 3.825 DOWN 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (
GERMAN 10 YR BOND YIELD: 3.0604 UP 1 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY TUESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/10:00 AM
Euro/USA 1.1574 UP 0.0046 OR 46 basis points
USA/Japan: 160.19 UP 0.0050 OR YEN IS DOWN 5 BASIS PTS// HIGHLY INFLATIONARY TO JAPAN
Great Britain 10 YR RATE 4.9210 DOWN 3 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.613 DOWN 1 BASIS POINTS.
Canadian dollar UP 23 BASIS pts to 1.3923
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY UP TO 6.7716// ON SHORE ..
THE USA/YUAN OFFSHORE// CNH UP TO 6.7716
TURKISH LIRA: 46.12 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
Your closing 10 yr US bond yield DOWN 1 in basis points from MONDAY at 4.549.% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 5.020 DOWN 1 basis points /10:00 AM
USA 2 YR BOND YIELD: 4.139 DOWN 2 BASIS PTS.
GOLD AT 10;00 AM 4340.65
SILVER AT 10;00: 68.63
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates TUESDAY CLOSING TIME 10:00 AM///
London: CLOSED DOWN 148.98 PTS OR 1,47%
GERMAN DAX: CLOSED DOWN 183.15 OR 0.74%
FRANCE: CLOSED UP 4,14 PTS PTS PTS OR 0.05%
Spain IBEX CLOSED DOWN 48.40 PTS OR 0.24 %
Italian MIB: CLOSED UP 54.63 PTS OR 0.11%
WTI Oil price 89.20 10.00 EST/
Brent Oil: 92.76 10:00 EST
USA /RUSSIAN ROUBLE /// AT: 72.21 ROUBLE UP 0 AND 76 / 100
CDN 10 YEAR RATE: 3.509 DOWN 2 BASIS PTS.
CDN 5 YEAR RATE: 3.165 DOWN 2 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1543 UP 0.0015 OR 15 BASIS POINTS//
British Pound: 1.3382 UP 0.0048 OR 48 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.924 DOWN 2 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.666 DOWN 3 IN BASIS PTS.
JAPAN 10 YR YIELD: 2.685 DOWN 3 FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 3.885 DOWN 5 PTS AND STILL VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 160.41 UP 0.227 OR YEN DOWN 28 BASIS PTS//GETTING CLOSER TO 160.00
USA dollar vs Canadian dollar: 1.3952 UP 0.0005 PTS// CDN DOLLAR DOWN 5 BASIS PTS
West Texas intermediate oil: 88.16
Brent OIL: 91.41
USA 10 yr bond yield DOWN 2 BASIS pts to 4.529
USA 30 yr bond yield: DOWN 2 PTS to 5.008%
USA 2 YR BOND 4.127 DOWN 3 PTS
CDN 10 YR RATE 3.496 UP 1 BASIS PTS
CDN 5 YEAR RATE: 3.151 DOWN 3 BASIS PTS
USA dollar index: 99.95 DOWN 7 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 46.12 GETTING QUITE CLOSE TO BLOWING UP/IDIOTS SOLD GOLD
USA DOLLAR VS RUSSIA//// ROUBLE: 71.97 UP 0 AND 99/100 roubles //
GOLD $4258.55 3:30 PM)
SILVER: 65.25 3;30 PM)
XX
DOW JONES INDUSTRIAL AVERAGE: UP 86.04 OR 0.17%
NASDAQ 100 DOWNB 329.36 PTS OR 1.12%
VOLATILITY INDEX 20.43 UP 1.51 PTS OR 7.98%
GLD: $ 390.77 DOWN 6.50 PTS OR 1.64%
SLV/ $59.01 PTS DOWN 2.57 OR OR 4.17%
TORONTO STOCK INDEX// TSX INDEX: CLOSED DOWN 155.83 PTS 0.45%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
Dead-Cat-Bounce Dies As Tech Leads More Market Turmoil; Dispersion Rivals Dot-Com Peak
USA DATA RELEASES
USA ECONOMIC REPORTS
JEFFRY TUCKER…BROWNSTONE..
Since Lockdowns, A 12% GDP Loss; Half Of US Dollar Purchasing Power Stolen
Tuesday, Jun 09, 2026 – 06:30 AM
Authored by Jeffrey Tucker via The Brownstone Institute,
Many of us have had the intuition that the economic damage from 2020 – including industrial stoppages, monetary printing, supply-chain disruptions, extended school closures, and general population demoralization – was in fact far greater than official statistics indicate.
What follows will shore up this intuition, using new techniques and numbers from an innovative project called RealityIndex.co.
It’s true that official data is bad enough, showing a 26% loss in purchasing power, slow growth in output, and only marginal improvements in real income. The labor participation rate and worker/population ratio never fully recovered and continue to fall.
Output has been lackluster. It’s supposedly running 2.3% which is about half the postwar norm for US economic performance. It feels like a general downshift. Official data shows a brief recession in 2020 followed by gradual economic recovery overall.
But is this even true? In 2024, Brownstone Institute commissioned a study (by E.J. Antoni and Peter St. Onge) that concluded that we have never really entered recovery after 2022. We’ve been in a technical recession since that time. They got this with some limited adjustments of price data bumped up against output data. That study was met with brutal attacks, with every critic falling back on official data and doubting the supposed extremism of the conclusion.
That’s where matters have stood even as reports pour in concerning broken labor markets, no raises for 1 in 4 professional-class workers, and sketchy Gross Domestic Product (GDP) data that seems barely above zero thanks mainly to medical-sector subsidies, government spending, and social services. Then there are the learning losses showing dramatic declines in test scores among affected students.
We are left with real questions. How can consumer sentiment be at historic lows given that the overall data seems to raise no loud alarms?
In the meantime, Artificial Intelligence has come along to make these complicated calculations possible, ones that seek to discern and delineate the huge gaps between official data and reality. The goal is to come up with real data concerning real prices, sans the many different methods that the Department of Labor uses to adjust price changes.
For example, housing prices are not measured directly but rather converted to owners’ equivalent rent (OER). Medical service prices are adjusted for consumption, not premiums or final bills. When consumers substitute one good for another, that is also factored in. When the quality of a good or service improves, the statisticians apply what they called hedonic adjustments, which are invariably designed to minimize price increases and never run the other direction.
Where does this leave those of us who are looking for a plain index of prices? A veil has been put over that basic question and answer, such that we don’t know for sure. This matters tremendously for issues like raises, examining cost of living increases, taxes, and pension payments. Everything is adjusted for inflation to convert it to real valuations but if we don’t have a clear number, what are we to do?
This is why we should be thrilled about a new study/service called the Reality Index. You are free to browse the site yourself and examine every aspect of the method. Essentially, the site owner, an independent intellectual in Madrid, Tom Elliott, has deployed tools of AI to wholly reconstruct price indices in a way that is consistent with actual prices. His results are absolutely eye-popping. I’ve examined the method here in detail and found no fault.
The Wall Street Journal has also taken notice. This is good news and raises the possibility that we can finally get to the truth.
The core of the problem is a constantly changing methodology in official data. The formula was changed eight times over 35 years. All the changes seem technical and vaguely justifiable, once explained. Adding them all up, you get wild distortions in the data that the index is supposed to reveal. All these changes came home to roost in the great inflation of 2021-2024, which might be entering a second wave right now.
In 1983, owners’ equivalent rent replaced basic housing prices. The new formula was based on an estimate of what homeowners would have to pay to rent their own homes. But in real life, people pay mortgages, property taxes, and home prices. When home prices and mortgage rates rise faster than rents, the new formula understates the housing inflation real households face.
In 1996, the Boskin Commission announced that the Consumer Price Index (CPI) was overstated because people substitute higher-priced goods for lower-priced goods which are too slow in being calculated. The agency made the correction to eliminate the bias in the fixed basket of goods. The problem is that every single adjustment ended up forcing the reported rate to be less than a plain addition of the same goods over time.
In 1998, there was a new fashion for hedonic adjustments. This stemmed from an observation that quality is always improving, especially in digital goods and computer functioning. The idea is that you might be paying the same or even more but you are getting more bang for your buck with quality shifts. You guessed it: hedonic adjustments drew the inflation rate lower. Notably, hedonic adjustments never run the other way, raising prices when quality decreases.
In 1999, a geometric mean formula replaced arithmetic mean for most CPI components. This was intended to capture substitution effects. This was the change that ended up disguising the increase in medical service costs. By looking at consumed services rather than actual prices, the inflation rate in this sector ended up burying inflationary trends. This highly technical adjustment completely ignored all the ways in which substitution is a behavioral adaptation to inflation, not a reduction in the inflation experienced.
In 2002, we got a continuation of this same method with new “chained CPI” which changes the basket weighting based on new purchasing patterns. Sure, if people buy less beef and more chicken, the household will experience inflation in a different way. But this ignores the manner in which the substitutions themselves are a response to higher prices. In 2017, the new calculation was applied to taxes causing people to pay more than they otherwise would have under the old method.
In 2018, the hedonic adjustment strategy was expanded to a huge new range of products including smartphones, residential telephone services, internet services, and cable and satellite television. In 2020, at the same time the composition of M1 was changed and not retrospectively applied such that the data is essentially useless. Following money supply data became more difficult. Then in 2024, the Bureau of Labor Statistics stopped looking at the actual cost of medical services and started only looking at claims, completing the consumption-only bias against actual posted prices. In 2025, a month went by with no data collection at all.
So what happens when we strip all this away and examine actual prices as reported by the Bureau of Labor Statistics, without all the many adjustments? We find that a basket of goods and services that cost $100 in 1980 costs $515 per the Reality Index in 2025. The official CPI reports only $391.
That means that real prices have run 32% higher over 45 years than the government reports. Over a 55-year window, the Reality Index ran 54.4% faster than CPI.
To put it another way, consider the loss of purchasing power since 1980. According to the CPI, the loss has been to make $1 in 1980 worth only 26 cents. According to the Reality Index, the loss is greater: $1 in 1980 is now worth only 19 cents. By any standard, that is a shocking devaluation. All of this became much worse starting with lockdowns.
There is much more work to do with this method. The charts could be interactive. They can also be set for real-time updates. They will be if Elliott continues to develop this. He should. There might even be commercial value in this.
Think about the implications. Isolating from the beginning of the Covid period to the present, Elliott’s data estimates as much as a 40% loss in purchasing power over six years. Or perhaps closer to 50%. Here is a zoom in of the above chart covering 2019 to the present.
This seems correct to me. Government data, meanwhile, logs only a 26% loss. That’s a massive gap between the official data and what prices actually reveal. With an AI re-rendering that tracks purchasing power – the flipside of the increase of prices – we get numbers closer to 50%. That means that Covid cut the value of the dollar in terms of goods and services to half its former value.
I asked AI to map this out in terms of year-over-year changes in prices. CPI shows a peak in 2022 followed by a decline in the rate of increase. Reality Index shows that the devaluation actually intensified and never fell below 6%. This explains so much about consumer sentiment and political shifts. People feel it even if official data never revealed it. This kind of chart forces a rethinking of the history of the last six years.
There are still larger implications. We measure national output with the Gross Domestic Product, a national income statistic used since the 1930s. For output data, it would make no sense to report it in nominal terms without factoring in inflation. As a result, the GDP is usually reported in real terms, with an inflation adjustment that is continually compounded on an annual basis.
Elliott’s own data – which is shocking enough – did not go into the implications for GDP. But I was able to use a simple AI tool to make those adjustments, adding the corrected price index as the deflator metric.
The result is rather astounding. The recession of 2020 never really ended in a sustained way. Charted by hard numbers and then by percent change, you gain a very different picture of present levels of output. It causes one to completely rethink the last six years.
The official definition of recession is two quarters of declining real GDP. In revised data, we’ve had consistently negative GDP in all but three quarters since summer of 2022. In those three quarters, output barely rose above zero. Mostly real GDP has been falling, a recession without end.
Overall, Grok AI estimates a loss of 5-12% of GDP from 2019 to present using Reality Index numbers. Sorry but read that again. Instead of any recovery, we’ve seen as much as double-digit declines in GDP overall since 2020. This is the cumulative loss spread out over six years.
That’s roughly half of the losses of the full period of the Great Depression, which was more catastrophic than people know. Most research from the 1930s, for example by George Selgin, shows that this was not a normal business cycle but a structural hit tracing to the very coercive measures designed to fix the problem. Price controls and market disruptions made a bad situation far worse. This is precisely the sort of hit that should worry us the most.
The lockdowns were a similar situation: a massive exogenous shock to commerce, accompanied by a huge devaluation of the currency. It amounted to a gigantic transfer of wealth to elites, the largest in history, followed by a destruction of wealth of the middle and lower classes.
At least during the Great Depression, people knew it was happening. It was officially documented. Our times are different. We have heard nothing for six years except happy talk about economic recovery. Based on real data, the opposite has happened, most tracing to the disastrous lockdowns of 2020.
The beauty of this data is that it is subject to replication. Anyone can look at the methodology and disagree. Be my guest. From what I can see, the actual picture is far closer to the reality that most people are experiencing.
In other words, that only one in four workers has had a nominal raise in five years barely scratches the surface. The reality could be that we’ve lost as much as 12% of national output since the lockdown era, along with a halving of the currency value. It’s somehow worse that we are only now able to document this.
Also, I would like to see his methods applied to my own concern over effective household income per hour of work. We keep hearing that household income is rising in real terms without considering that it generally takes two incomes to provide what one once did. It won’t do to pretend that two incomes in a single household is double the income when one person has been drafted into the workforce to sustain living standards.
Adding that consideration in here, and the dramatic change in household remuneration between 1950 and 1990, would be very revealing. After all, only 1 in 5 households (with children under 18) had two income streams in 1950 where it is 3 in 5 today. That is effectively a diminution of wages per household hour and not an increase in income. Add that consideration and you would generate a chart of declining living standards in the decades before lockdowns delivered the final coup de grâce.
And that is where we are today. Households are scrambling to keep the bills paid while juggling children and domestic life while running from job to job to keep the flow going as best they can. Meanwhile, they money they earn has less buying power than ever. It’s no wonder consumer sentiment is rock bottom.
It is long past time for this technical work to be done. What Tom Elliott has provided is what index numbers should provide: clean and stable comparisons of the same or similar products over time, no adjustments, refinements, and manipulations. Run those numbers against conventional output numbers and you produce a very different picture of economic performance since 2020.
We’ve lived so long with distorted statistics. It fascinates me that the person who finally did it is an independent data expert in Spain rather than an employed academic in the US. That itself is revealing.
The big picture is that the lockdowns, not only nationally but globally, were far more catastrophic for us economically than has been generally admitted or recognized. It is not unusual in the history of economics for the really bad news to emerge years and even decades after an exogenous shock such as war.
We would rather not wait that long. The crisis is too real and the public knows, even if the official data does not admit the truth.
Lockdowns were a kind of war on the population. The economic carnage might have sliced off half of the purchasing power of the dollar and cut output by as much as 12% over six years (in real terms, leaving aside missed counterfactual growth on the previous trajectory), even as labor participation never recovered and continues to fall.
Did Covid kick off a kind of permanent recession? How many decades must pass before we admit what happened? More precisely, how much longer will it take before the public mind recognizes what they did to us?
“Replacing Lower Value Human Capital”: Banks Cut Staff As Recent Grads Face Off Against AI For Jobs
Monday, Jun 08, 2026 – 07:40 PM
As AI reshapes banking, students entering the industry are confronting a double challenge: navigating AI-driven hiring processes today while wondering how many traditional finance jobs will remain tomorrow, according to Bloomberg.
Warwick University student Andre Bonnick, for example, spends hours preparing for automated screening interviews rather than conversations with human recruiters. While he hopes to secure a role in finance, he is also weighing options such as further study as entry-level opportunities become more competitive.
Industry leaders have been increasingly candid about AI’s impact on employment. JPMorgan CEO Jamie Dimon stated that the technology “will eliminate jobs,” while other bank executives have acknowledged that some roles may no longer be needed as automation expands. Standard Chartered CEO Bill Winters described the shift as “replacing in some cases lower-value human capital” with technology investments, comments for which he later apologized.
Bloomberg writes that the pressure is already visible at the junior level. Banks are reducing analyst intake programs and investing heavily in AI capabilities, leading many graduates to question the long-term stability of careers that were once viewed as secure and lucrative. Even so, experts argue that banks cannot eliminate junior hiring altogether because the industry still relies on developing future leaders through apprenticeship-style career paths.
For now, most institutions are deploying AI in specific areas such as customer support, compliance, transaction monitoring, and wealth management rather than replacing entire functions. Banks including Citigroup and Barclays report efficiency gains from AI tools, while digital-first firms such as Revolut are embedding AI directly into customer-facing products.
Yet uncertainty remains. Employment lawyers warn that automation could disproportionately affect middle-office and administrative roles, while some industry observers question whether companies are attributing workforce reductions to AI when broader cost-cutting may be the real driver.
Although major banks continue to recruit interns and graduates, many are seeking productivity gains without increasing headcount. As a result, breaking into finance is becoming more difficult just as AI begins to transform the nature of the jobs themselves.
VICTOR DAVIS HANSON
KING NEWS
| The King Report June 9, 2026 Issue 7759 | Independent View of the News |
| Google AI: Stock nationalization is the process of a government taking ownership or control of privately owned corporate equity or physical assets, thereby turning them into public property… Notable Examples and Proposals: The U.S. government took an unprecedented $8.9 billion equity stake in the chipmaker Intel to secure domestic semiconductor manufacturing… Fangs and AI bubble stocks soared on Monday due to Trump’s proposed AI bailout/nationalization. We noted years ago that Trump and his minions want to run the US economy hot. Months ago, we opined that Trump believes the US stock market is the economy. This possibly because his efforts to boost manufacturing via tariffs failed. We have regularly noted that Trump and his team incessantly intervene in the stock market, verbally, indirectly, and directly. Now it’s blatant intervention. The Monday Rally was abetted by Trump’s insistence that for the umpteenth time, a peace deal with Iran would be signed in the next day or two or three. @N12News: Prime Minister Netanyahu in the first statement since the start of the escalation: “Iran and Hezbollah tried to impose a new equation – this will not happen.” Our campaign against Iran, Hezbollah is not over; Over the past 24 hours they tried to impose a new equation on us, this is unacceptable. https://x.com/i24NEWS_EN/status/2064004927228195175 @financialjuice: Israel’s Prime Minister Netanyahu: Told Trump Israel has the full right to self-defense. @SkyNewsArabia_B: Netanyahu: I pledge to prevent Iran from acquiring nuclear weapons. Netanyahu: My conversation with Trump was good… If the Iranian regime returns to committing mistakes, we will respond forcefully. @LiveSquawk: Israel’s Netanyahu: Israel Holding Fire in Iran For Now – If Iran Attacks Israel Again, We Will Respond ‘With Might’ @Alighazizade: Trump: The Islamic Republic asked us to tell Israel to stop the attacks. In the media, they’re tough guys. (Kettle calling?) But when it comes to US and Israel, they turn into something else. Trump scolds Netanyahu in testy phone call: ‘You could be left alone against Iran very soon’ https://trib.al/ceoITDL C14 Israel’s Dror Balazada @DBalazada: New Details from the Trump-Netanyahu Call – According to U.S. sources familiar with the discussions, Trump believes the Strait of Hormuz blockade is working. The assessment presented in the call: even without a deal, Iran’s economy is under severe pressure and continues to deteriorate. Gulf states are reportedly divided over a strike on Iran and would support it only if it were part of a full-scale effort to topple the regime and included strong U.S. protection. New Siri AI Features Won’t be available in China or EU Later This Year – MAC Rumors Due to DMA (Digital Markets Act), Siri AI delayed in EU for iOS 27 & iPadOS 27 – Mac Daily News Traders, as is custom, poured into Apple for the Apple event. APPL hit +3.25% (317.40) at 13:34 ET. It then collapsed after the disappointing Sire AI news to -2.0% (301.17) at 15:58 ET. The general market rallied sharply early on the manic buying of tech stocks. However, the DJIA peaked at 9:32 ET (+410.37). The DJTA peaked at 14:28 ET (+298.69). The SOX Index peaked at 11:20 ET (+7.4%). The NY Fang+ Index peaked at 9:30 ET (+2.6%). ESMs traded sharply lower early on Sunda night but rallied after NQMs soared on Trump’s proposed partial nationalization of certain tech stocks. ESMs reluctantly followed NQMs and hit a daily high of 7476.75 (+76.25) at 11:05 ET. They then steadily sank to 7403.75 (3.25) at 15:24 ET. After a rebound to 7424.25 at 15:32 ET, ESMs fell softly to 7407.75 at 16:21 ET. US May budget shortfall of $294 billion – CBO estimate Positive aspects of previous session Fangs and AI Bubble stocks soared early on Trump’s proposed nationalization of tech stocks. Negative aspects of previous session USMs were -9/32 at the NYSE close despite the significant equity reversal to the downside. The 10-year yield hit 4.5781%. The 2-year yield hit 4.164% and is breaking out to the upside! The 2-year yield to Fed Funds Rate indicates the Fed needs to hike MORE THAN 50BPS! The DJIA reversed from +410.37 to -65.58 at 15:17 ET. ESMs peaked at 11:05 ET. NQMs peaked at 11:19 ET. Ambiguous aspects of previous session Except for those exposed to the AI Bubble, who will promote nationalization of AI stocks? First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Down; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to day traders]: 7422.56 Previous session (S&P 500 Index) High/Low: 7466.81 (10:06 ET); 7395.1 (15:24 ET) President Trump announces a ‘promenade’ project to elevate Lincoln Memorial “The President announcing plans to build a promenade—or a pedestrian bridge—off the back of the Lincoln Memorial, connecting it to the waterfront.”… https://www.rsbnetwork.com/news/president-trump-announces-a-promenade-project-to-elevate-lincoln-memorial/ OpenAI has confidentially filed for an initial public offering, setting it up for what may be the most highly anticipated market debut in recent history and a massive payday for early investors. https://cnn.it/4vBCZpk File an IPO after Trump suggests propping up AI issues with government money – MAGA! @ekwufinance: AI-related CapEx is bigger than every CapEx cycle in history. (Dwarfs railroad bubble) All previous CapEx manias have resulted in massive write-offs. This time will not be different. https://x.com/ekwufinance/status/2063969595388473833 U.S. Embassy Jerusalem @usembassyjlm: As a result of the current security situation in Israel, including Home Front Command alerts for multiple regions, the U.S. Embassy has directed all U.S. government employees and their family members to shelter in place, and be prepared to move to a protected shelter in the event of a red alert, until further notice. Operating Status: The U.S. Embassy Jerusalem and Embassy Branch Office Tel Aviv consular sections are closed on Tuesday, June 9. In the event of missile, rocket fire, or hostile aircraft intrusion, a “red alert” siren may be activated. Follow the instructions from local authorities and the Israeli Home Front Command and seek shelter immediately. (In case no deal is announced on Wednesday?) Air Travel: Ben Gurion Airport is operating. Contact airlines directly for commercial flight options. Actions to Take: Enroll in the Smart Traveler Enrollment Program (STEP) to receive safety and security updates from the U.S. Embassy. Read full message here: https://il.usembassy.gov/security-alert-u-s-embassy-jerusalem-june-08-2026/ Trump on Iran: We’re Negotiating Now – BBG 17:46 ET Trump on Iran: You’re Really Going to Win It in Two Weeks – BBG 17:47 ET Trump on Iran: We’ll Declare ‘Total’ Victory in Two Weeks – BBG 17:47 ET Trump on Iran: Victory Will Happen ‘Very Soon’ – BBG 17:48 ET Over the weekend, Trump announced a deal with Iran could be signed on Monday, or Tuesday, or Wednesday. On Monday night, Trump, again, extended the deal horizon, this time to two weeks. Also, Trump said, for the umpteenth time, Iranian negotiators are “willing to give us everything.” Today depends on whether Trump’s scheme to inflate the AI bubble further via government was a one-day, short-covering panic or if the nationalization proposal has changed traders’ psychology. Also, this is Day Two in Trump’s over-the-weekend proclamation that a deal with Iran will be signed on Monday, or Tuesday, or Wednesday. Will traders want to be long on Wednesday if no deal is announced today? We know what will happen if there is no deal by Wednesday: Trump will threaten Iran; Iran will ‘dis’ Trump; stocks will crater; Trump will TACO; and a new deadline will be announced. We are all trapped in a Trumpian Groundhog Day regarding Iran. ESMs are +5.75; NQMs are +73005; WTI is -$0.44; gasoline is -1.45¢; USMs are -9/32 at 21:45 ET. The US 2-year hit 4.165%. Keep an eye on notes and bonds. They are misbehaving again! Expected Economic Data: May NFIB Small Business Optimism 96; Apr Trade balance -$56.5B, Imports 1.2% m/m, Exports 2.6% m/m; May Existing Home Sales 4.06m; Apr Wholesale inventories 0.6% S&P Index 50-day MA: 7156; 100-day MA: 6996; 150-day MA: 6937; 200-day MA: 6858 DJIA 50-day MA: 49.071;100-day MA: 48,811; 150-day MA: 48,482; 200-day MA: 47,892 (Green is positive slope; Red is negative slope) S&P 500 Index (7383.74 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 6078.33 triggers a sell signal Weekly: Trender and MACD are positive – a close below 6795.95 triggers a sell signal Daily: Trender and MACD are negative – a close above 7610.68 triggers a buy signal Hourly: Trender and MACD are negative – a close above 7455.28 triggers a buy signal Ukraine blitzes Russia with ‘unprecedented’ attack https://trib.al/2qyHZby @ChrisO_wiki: Ukraine’s massive new ‘Behemoth’ drone is just the start of a new wave of Ukrainian airborne threats to Russia, warns a Russian warblogger. He says that Ukraine will soon start launching salvoes of ballistic and cruise missiles in addition to drones. ‘Russian Engineer’ takes a look at the next six to twelve months and sees a gloomy future ahead as new missile projects from Ukraine and its partners come to fruition: https://x.com/maria_drutska/status/2063723867172917314 @Mylovanov: 5,000 tons of Russia’s Navy ammunition near St. Petersburg is gone. Eight Ukrainian deep strike drones got through air defenses and triggered a massive secondary detonation — United24 https://x.com/Mylovanov/status/2063960628297965660 St. Petersburg is Putin and the Russian mafia’s home/center of power. If the St. Petersburg mob start to suffer from the war with Ukraine… @libsoftiktok: Nithya Raman just defeated Spencer Pratt (LA Mayor Runoff) after giving a concession speech on election night and then getting the largest number in almost every mail-in ballot dump. They just cheated in an election right in front of our eyes. CTU, school board blast ‘megaprojects bill,’ ask for more CPS funding The CPS operating budget indicates a deficit of more than $700 million, officials warn They echo Chicago Mayor Brandon Johnson’s claim that the state is shorting CPS nearly $2 billion – and say the focus on a Bears megaprojects bill will cost education. “We cannot allow mega-projects to destroy public education,” said board member Debby Pope. “We cannot tell our children, ‘no, we do not have enough for you because we are building a beautiful new stadium.’” https://www.nbcchicago.com/news/local/chicago-politics/ctu-school-board-blast-megaprojects-bill-ask-for-more-cps-funding/3935630/ In the future, the stupid and rapacious CTU will get nothing from the Chicago Bears. The politics of greed and envy are fundamental to the Chicago Democratic Party. @DailyMail: Deranged Penn Station stabber was freed from NJ jail just WEEKS before knifing five commuters who paid price for woke bail policies https://www.dailymail.com/news/article-15883843/penn-station-stabber-freed-NJ-knifing-five-commuters.html @DailySowell: Caller: “You were a Marxist and then became a conservative. What influenced you?” Sowell: “Working for the government.” https://x.com/DailySowell/status/2064064197881667609 | |
SWAMP STORIES FOR YOU TONIGHT
MINNESOTA
House Report Finds Minnesota Officials Ignored Fraud To Avoid Racism Accusations
Monday, Jun 08, 2026 – 06:00 PM
A House Committee on Oversight and Government Reform report released Monday paints a devastating picture of both Minnesota Gov. Tim Walz and state Attorney General Keith Ellison, finding that they both knew about widespread fraud in state social services programs and failed to act.
The report centers on the Feeding Our Future scandal, in which a Minnesota-based nonprofit systematically exploited federal COVID-19 relief funds intended to provide meals to children.
So far, more than 60 people have already been found guilty of fraud in connection with the scheme, the majority of whom are of Somali descent. Some defendants used stolen taxpayer money to buy luxury goods, while others funneled proceeds to a radical Islamic terrorist group operating in Somalia. At least $300 million in federal child nutrition funds were placed at serious risk, and approximately $9 billion in Medicaid losses resulted from the broader fraud environment state officials allowed to fester.
“Fraud warnings were elevated to the most senior levels of the Minnesota state government, meaningful corrective action was delayed or avoided, and payments continued long after credible signs of fraud emerged,” the report states.
Senior officials in Walz’s office and Ellison’s office knew about systemic fraud concerns as early as 2019 within the Minnesota Department of Human Services and, by April 2020, within the state Department of Education, the report says, directly contradicting Walz’s and Ellison’s public statements.
This matters because both men held legal authority to cut off payments to fraudulent operators. Neither exercised it, even though Walz was aware of the suspected fraud in Feeding Our Future by 2020, and the payments continued.
The fraudsters didn’t just know how to exploit the system for financial gain; they knew how to blackmail state officials to keep their scheme going. When workers inside the Department of Education tried to audit child care and nutrition programs, providers accused them of racism. The accusation worked. Officials backed down despite holding evidence that funds were being fraudulently diverted. Dozens of human services department staff were warned, explicitly, that raising fraud concerns would get them labeled as racists and damage the government’s reputation. Some were pulled into supervisory meetings. Others were excluded from the very internal discussions about the fraud they had flagged.
And the directive to look the other way from the fraud came from the top down. One Minnesota Department of Education official who first contacted the FBI about Feeding Our Future told investigators her supervisors pressured her to stop investigating “at every turn” and that she got her “hand slapped” for continuing to look into it. Staff feared reporting fraud to the Homeland Security Office of Inspector General because that agency would notify the Commissioner or HR, who would then retaliate against them. The internal culture the Walz administration built was one in which accountability was the threat, not the fraud.
Rather than combating the fraud, the Walz administration spent resources monitoring employees to keep them in line. The priority, the report shows, was getting ahead of press coverage about the fraud, not stopping it.
“Minnesota Governor Tim Walz and Attorney General Keith Ellison are responsible for one of the most stunning oversight failures this Committee has ever examined,” Oversight Committee Chairman James Comer said in a statement. “Today’s report is the culmination of months of investigative work and reveals hard evidence showing how the Walz Administration failed to stop widespread fraud, allowing criminals to enrich themselves at the expense of American taxpayers. Billions of dollars were stolen because Minnesota state leaders turned a blind eye to rampant fraud and retaliated against state employees who dared to raise concerns. It is now clear the Walz Administration chose to protect the system rather than protect the taxpayer.”
The report makes clear that this fraud wasn’t some bureaucratic mistake or a problem that went unnoticed. Senior officials were repeatedly warned about what was happening. They chose not to act in order to preserve their political relationship with Minnesota’s Somali community, manage the fallout, and sideline the employees who were raising red flags and trying to stop it.
END
Voter Fraud: Los Angeles County Woman Pleads Guilty To Paying People In Skid Row To Vote
Tuesday, Jun 09, 2026 – 11:40 AM
LOS ANGELES – A woman who worked as a longtime signature collector for ballot initiatives pleaded guilty on June 8 to paying homeless people in Los Angeles’ Skid Row and elsewhere $2 or $3 to register to vote.
An “I Voted” sign points to a Vote Center in Los Angeles on June 1, 2026. Mario Tama/Getty Images
Brenda Lee Brown Armstrong, 64, of Marina del Rey, also known as “Anika,” entered a plea to one count of paying another person to register to vote, a federal charge that carries a penalty of up to five years behind bars.
Sentencing was scheduled for Aug. 31.
According to her plea agreement, for nearly 20 years, Armstrong periodically worked as a “petition circulator.” In that role, she was paid by coordinators to collect voter signatures on official petitions that qualify initiatives, referendums and recalls for California state ballots. Prosecutors said Armstrong drove around the Los Angeles area to find registered voters to sign the petitions.
After gathering enough signatures, Armstrong returned the petitions to her coordinators, who then paid her a set amount for each registered voter’s signature. The amount she was paid varied depending on the specific ballot initiative. Because her coordinators only paid for signatures attributable to registered voters, Armstrong endeavored to ensure the people who signed her petitions were registered voters, court papers show.
Armstrong admitted soliciting signatures in Skid Row, a convenient place for the defendant to collect signatures because of its high concentration of people in a relatively small area who were willing to sign petitions in exchange for cash.
Armstrong regularly paid amounts between $2 and $3 to induce people to sign her petitions, officials said.
Prosecutors said some homeless people did not have an address to put on the forms, so on occasion, Armstrong provided her own former address in Los Angeles to write on the registration form. Such registration forms simultaneously registered an individual to vote in California elections and in federal elections.
“This is not an allegation, this is not a theory, this is an example of admitted voter fraud,” First Assistant U.S. Attorney Bill Essayli said when Armstrong was charged. “We’re going to aggressively prosecute voter fraud.”
A video shot by conservative media figure James O’Keefe and reposted by an account called “Real America’s Voice” showed a woman handing cash to a homeless person. In a post on social media, O’Keefe said his video led to Armstrong being charged.
Essayli said on June 5 that his office has “multiple” probes underway into alleged voting fraud. While declining to provide any specifics, he pointed to the Armstrong case as an example of the sort of thing he is investigating.
“Yes, there is evidence of election fraud in California,” he said.
The comments came one day after President Donald Trump publicly accused Democrats of engaging in election fraud in California, pointing to the legally established mail-in voting process.
Essayli also said his office is working with Assistant Attorney General Harmeet Dhillon in an effort to audit the state’s voter rolls.
Essayli said previously that Armstrong’s arrest coincided with arguments in the Department of Justice’s (DOJ) appeal of the dismissal of a lawsuit over voter registration records.
The DOJ sued California Secretary of State Shirley Weber last year, demanding the state hand over the unredacted voter file, which includes registered voters’ full names, residential addresses, driver’s license numbers, and the last four digits of their Social Security numbers.
The DOJ claimed it had the right to access the data under powers granted by the Civil Rights Act of 1960, the Help America Vote Act, and the National Voter Registration Act.
In January, a Santa Ana federal judge dismissed the case after finding that the DOJ’s request for the information violates federal privacy laws. The defense also argued that the Trump administration wants to use the data to help enforce its immigration policy.
Brenda Lee Brown Armstrong
GREG HUNTER….
harveyorganblog.com 
