📊 Morning Update (03.06.25) 🌍 Wall Street kicked off June with gains: 🟢 S&P 500 +0.41% 🟢 Nasdaq +0.67% This rally came despite tensions over 🇺🇸 Trump’s tariff hikes — steel and aluminium duties doubled to 50%. 🇨🇳 China and 🇺🇸 US continue trading accusations, while 🇪🇺 EU hints at retaliation. 🤝 Hopes rose on reports of upcoming Trump–Xi talks, and the US extended tariff exemptions on some Chinese goods till 31 August. Final trade proposals are expected by Wednesday. 🌏 Asian markets climbed: 📈 Hang Seng +1.33% 📈 Shanghai Comp +0.42% 📈 Nikkei 225 +0.1% 🇯🇵 A strong 10-year bond auction calmed nerves, but attention shifts to Thursday’s 30-year sale, with yields at 20-year highs and demand still cautious. 📉 China’s Caixin Manufacturing PMI disappointed: 🔻 48.3 vs 50.7 expected (prior: 50.4) 💵 US dollar strengthened, especially against: 🇦🇺 AUD & 🇳🇴 NOK AUD dipped after RBA minutes showed readiness to cut rates by 50 bps if trade tensions worsen. 🗣️ BOJ’s Ueda signalled no rate hikes without inflation and growth — yen weakened on the comments. 🇺🇸 Trump also pushes for a major tax reform bill — narrowly passed in the House but facing resistance in the Senate. ⚖️ Ukraine–Russia talks in 🇹🇷 Istanbul yielded no major results but may lead to another prisoner exchange. 🛢️ Oil prices climb amid OPEC+ supply growth and geopolitical risk: 📈 Brent +0.3%, nearing $65/barrel