2025.7.3 Jinyuan Reference News

1. U.S. June Employment Data: June ADP employment decreased by 33,000, marking the largest drop since March 2023; June Challenger job cuts recorded 47,999, a new low since December 2024; interest rate futures have almost fully priced in a rate cut by the Federal Reserve in September.

2. Trump announces a trade agreement with Vietnam, with the Vietnamese market set to fully open to the U.S.; Vietnam will pay a 20% tariff to the U.S. on any goods entering U.S. territory and impose a 40% tariff on transshipment goods; Vietnamese state media stated that the U.S. will significantly reduce tariffs on various Vietnamese products.

3. Richmond Fed President Barkin: There is currently no urgency to change policy.

4. U.K. Chancellor of the Exchequer Reeves cried in Parliament, sparking market concerns he may resign, leading to a significant drop in the pound and British bonds. The UK Prime Minister urgently voiced support for Reeves.

5. Bank of England Monetary Policy Committee member Taylor: I believe there need to be five rate cuts in 2025.

6. After two consecutive quarters of double-digit decline, Tesla's second-quarter vehicle deliveries fell by 13% to 384,122 units, slightly below market estimates of 389,407 units. #btc #eth #比特币