President Trump announced that he signed a trade deal with China yesterday, despite no official announcement being made at the time.

Mexican bank accused of cartel ties has access to Fed payment system

A Mexican bank accused by the U.S. Treasury of laundering cartel funds has a U.S. subsidiary with a Fed master account — granting direct access to America’s payment system.

The account was opened in 2021, around the time crypto firms like Kraken were being denied similar access.

Intercam Banco denies the allegations, citing nearly 30 years of AML and CTF compliance.

U.S.–China trade talks back on — rare earths take center stage

Trade between the U.S. and China is officially back in focus, with rare earth exports listed as a top priority.

The materials are critical for tech, defense, and green energy — making them a key issue in renewed negotiations.

Japanese investors buying domestic bonds at fastest pace since 2007

Japanese investors are snapping up local government bonds at a record rate, marking the strongest buying spree since 2007.

Apple updates App Store rules in EU under DMA pressure

Apple has revised its App Store policies in the EU to comply with the Digital Markets Act:

• 20% fee on in-app purchases (13% for small businesses)
• 5–15% fee for directing users to external payment systems
• Developers must display Apple’s special prompt before redirecting users

The European Commission has launched a review to assess compliance.

Epic Games’ CEO slammed the changes as “blatantly illegal” and aimed at crushing competition.

The Federal Reserve's Kashkari anticipates two interest rate cuts in 2025, potentially starting in September. He notes that if cuts occur in September and tariff effects emerge later, there may be a pause in further rate reductions.

JUST IN: In May, the Personal Consumption Expenditures (PCE) inflation, the Federal Reserve's preferred measure, increased to 2.3%, matching expectations. However, core PCE inflation rose to 2.7%, exceeding the anticipated 2.6%. This marks the first rise in PCE inflation since February 2025. The Federal Reserve plans to maintain its current pause.

Taiwan investors are dumping U.S. bonds at fastest pace since Covid

Taiwanese investors are selling U.S. Treasuries at the most aggressive rate since the start of the pandemic.

Foreign ownership of U.S. assets hits record levels

Since 1991, foreign investors have bought $128 trillion worth of U.S. financial assets, according to BofA — and the pace has doubled over the last 15 years.

A big driver: U.S. stocks. Foreigners now own a record 18% of the U.S. stock market, or around $19 trillion.

Strong, stable returns have made the U.S. a global investment magnet — fueling its unmatched financial dominance.

JUST IN: A news conference will be held at the White House at 11:30 by President Trump.