Global Headlines

Grain futures in Chicago jumped on Monday after the White House outlined an additional commitment by China to buy US farm goods, stoking hopes that crop exports beyond soybeans could pick up.

A deepening slump in Japanese government bonds added fuel to the selloff in global debt markets as rising oil prices stoke inflation fears and push yields to multi-decade highs.

The Indonesian rupiah fell to a new all-time low, stocks slid and bond yields surged as oil prices advanced and as local markets reopened after a two-day holiday.

Plunging crude imports forced Chinese oil processors to sharply reduce output last month, with runs in the state-owned sector dropping to multiyear lows.

A selloff in global bonds extended as the deadlock over the Iran war drove oil prices higher, fueling inflation concerns and raising bets that central banks will need to keep tightening policy.

UAE issues a missile warning as Iran claims it struck a U.S. warship. Washington denies the claim. Jennifer Gavito, senior adviser at the Cohen Group and former State Department and National Security Council official, joins Bloomberg’s Matt Miller on Open Interest. (Source: Bloomberg)

The US and Iran exchanged fire in the Persian Gulf in a flareup of violence on Monday that also drew in the United Arab Emirates, casting doubt on the fate of a four-week ceasefire.

World Liberty Financial said it is suing Justin Sun for defamation, accusing the billionaire crypto entrepreneur of running a coordinated media campaign against the Trump-linked project after he filed his own lawsuit against it last month.

The China Eastern Airlines Corp. jetliner that plummeted into a hillside in 2022, killing all 132 people on board, had its fuel supply cut during the flight, newly released investigative material shows, supporting the theory that the aircraft was intentionally brought down.

The European Central Bank will need to raise borrowing costs in June as long as there’s no significant improvement in the outlook for consumer prices, Governing Council member Joachim Nagel said.

Federal Reserve Bank of New York President John Williams said the current stance of the US central bank balances risks to price stability and full employment amid disruptions from the Iran war. Williams spoke Monday at an event in New York City. (Source: Bloomberg)

An oil terminal in the United Arab Emirates city of Fujairah was hit in an aerial attack amid an up-tick of Iranian strikes on Monday in the vicinity of the Strait of Hormuz.