Domestic News - The National Financial Regulatory Administration and the Central Bank jointly released the "Implementation Plan for High-Quality Development of Inclusive Finance in the Banking and Insurance Industries," aiming to establish a high-quality comprehensive inclusive financial system within five years [1] - The State Council issued the "Implementation Plan for Further Improving the Credit Repair System," which proposes a unified credit information disclosure platform and clarifies the channels for credit repair applications [1] - Xiaomi officially launched its first SUV, the Xiaomi YU7, with prices starting at 253,500 yuan, Pro version at 279,900 yuan, and Max version at 329,900 yuan; also released its first AI glasses starting at 1,999 yuan [1] - The 2025 basic medical insurance catalog and commercial insurance innovative drug catalog adjustment application guidelines have been released, marking the first inclusion of commercial insurance innovative drugs [1] - The new generation of domestically developed general-purpose processor, Longxin 3C6000, has been released [1] International News - Trade negotiations between India and the United States have reached a stalemate, according to Indian officials [2] - The European Union believes that the U.S. attack occurred after Iran transferred enriched uranium [2] - The spread between the U.S. 5-year and 30-year Treasury yields has exceeded 101 basis points, marking the steepest since 2021 [2] - The U.S. trade deficit unexpectedly widened in May, with exports experiencing the largest decline since the pandemic; first-quarter GDP has been revised down [2] - Iran has officially enacted a law to suspend cooperation with the International Atomic Energy Agency [2] - Federal Reserve officials indicated that with inflation easing, interest rate hikes are no longer a primary topic; potential neutral rate estimates may gradually rise over time [2]

美联储巴尔金：在通胀趋缓的背景下，加息似乎已不再是主要话题。 ...

他通过引用一家大型零售商的说法，对关税影响可能显现的时间提供了洞见："为了解4月和5月大幅加 征关税的影响，他建议我们等着看7月和8月的价格。" 不过他明确表示，不认为关税对通胀的影响会接近近年所见的价格飙升，因为消费者可能会抵制价格上 涨。他补充称，这种抵制可能导致裁员。"如果企业提价后销量下滑，就需要降低成本;如果因无法提价 而失去利润，同样需要降低成本，"他说，"无论哪种情况，成本削减可能都意味着裁员，这表明当前低 招聘、低解雇的环境可能面临威胁。" 巴尔金周四在为纽约商业经济协会(New York Association for Business Economics)主办活动准备的讲稿中 表示，"过快地朝任何一个方向行动几乎没有好处，""鉴于当前经济的强劲态势，我们有时间耐心跟踪 事态发展，让前景变得更清晰。" 美联储官员普遍表示，倾向于等待观察关税及其他政策对通胀和整体经济的影响后再调整利率。不过， 委员会内部存在明显分歧，两位美联储理事克里斯托弗.沃勒(Christopher Waller)和米歇尔.鲍曼(Michelle Bowman)称，他们可能支持最早在7月降息。 巴尔金提到，企业联系人表示 ...

美联储巴尔金：近期的通胀情况使得预测关税对价格的影响变得更加困难。 ...

美联储戴利：关税措施对通胀的影响将是暂时的。 ...

Group 1 - US Treasury yields declined as investors expressed concerns over President Trump's consideration to replace Federal Reserve Chairman Jerome Powell, with the 10-year Treasury yield dropping over 2 basis points [1] - On the same day, the 2-year Treasury yield fell by 1.1 basis points to 3.768%, the 10-year yield decreased by 1 basis point to 4.285%, and the 30-year yield dropped by 0.3 basis points to 4.839% [1] - Powell reiterated the Fed's primary goal of controlling inflation amidst unclear impacts from Trump's tariffs, facing criticism from Trump who is reportedly considering Powell's successor [3] Group 2 - The Federal Reserve Board voted 5-2 to lower the Supplementary Leverage Ratio (SLR), allowing major banks to release some of their capital to support market stability, which could enable banks to purchase more US Treasuries [4] - Investors are awaiting the weekly initial jobless claims data and the May Personal Consumption Expenditures index to be released [4] - European bond yields fell across the board, with the 10-year German yield down by 1.7 basis points to 2.544% and the 10-year Italian yield down by 4.5 basis points to 3.4464% [4] Group 3 - In the Asia-Pacific market, Japanese bond yields rose, with the 10-year yield increasing by 3.8 basis points to 1.436% [6] - Japanese investors increased their holdings of overseas medium- to long-term bonds by 615.5 billion yen, while foreign investors reduced their holdings of Japanese medium- to long-term bonds by 368.8 billion yen [6] - The US Treasury Department reissued 77-day cash management bills for the first time in 16 years, issuing a total of $214 billion in four bond types [6]

金十数据6月26日讯，美联储巴尔金周四表示，关税很可能在未来几个月推高通胀。巴尔金表示："我确 实相信价格将面临压力。"在谈到关税及其对价格压力的影响时他表示，"到目前为止，这些增加对衡量 通胀的影响不大，但我预计更多的压力即将到来。"但他表示，预计对通胀的影响不会像刚刚经历的那 样严重，而且有迹象表明，消费者将试图放弃加征关税的商品。巴尔金指出，美联储在工作和通胀任务 上都面临风险。他说，"鉴于今天的经济实力，我们有时间耐心地跟踪事态发展，并让可见度得到改 善。我们已经准备好应对经济的任何需求。就目前的经济状况来看，情况看起来相当不错。" 美联储巴尔金：关税将开始推高通胀 ...

Core Insights - The President of the San Francisco Federal Reserve, Mary Daly, stated that new data confirms the robustness of the U.S. labor market [1] - The Federal Reserve is still awaiting more information regarding inflation [1] - There is an optimistic outlook for interest rate cuts in the fall [1]

美联储戴利表示，美联储仍在等待更多有关通胀的信息。 ...

美联储巴尔金：不预期疫情时期的通胀将再次出现。 ...