Bond

• Foreign investors injected a net $11.51 billion into the bond markets of South Korea, Indonesia, Malaysia, Thailand, and India in June. • This surge represents the strongest monthly inflow since November 2025, driven by falling oil prices and a booming global tech cycle. • The shift occurred as equity market volatility pushed investors toward the relative safety of sovereign debt and improved regional economic outlooks.

• Major technology firms, including Oracle, are increasingly turning to the bond market to secure the massive funding required to build AI data centers. • S&P Global downgraded Oracle's debt on July 9, noting that the company's financial health has been deteriorating. • This downgrade leaves Oracle's debt just one notch above "junk bond" status, signaling a significant increase in financial risk.

• Tech giants are engaging in a historic borrowing spree, issuing roughly $250 billion in bonds to fund the massive infrastructure requirements of artificial intelligence. • This surge in supply is weighing down bond prices as the market struggles to absorb the sheer volume of new debt. • The trend highlights the immense capital intensity of the AI race, forcing Wall Street investors to question whether the pace of spending is sustainable.

• U.S. stocks rose on Thursday, with the S&P 500 and Nasdaq both increasing by 0.3% and the Dow Jones Industrial Average gaining 258 points. • The market rally is driven by easing Treasury yields following new job market data, which suggests the Federal Reserve may face less pressure to implement further interest rate hikes. • This upward trend positions Wall Street to conclude its strongest weekly performance in nearly two months.

• Major tech firms, including Amazon, Microsoft (MSFT), and Meta Platforms Inc., are increasing the issuance of high-rated corporate bonds as of July 02, 2026. • This trend is driven by the need to fund massive investments in artificial intelligence infrastructure, with Microsoft currently holding a market capitalization of approximately $2.9 trillion. • The surge in high-rated debt raises concerns among investors regarding the long-term risks and sustainability of AI-driven capital expenditures.

• Global investors poured US$8.2 billion into bonds across Thailand, Indonesia, India, and Malaysia in June, marking a peak in inflows for over two years. • This surge in funding occurs despite ongoing market concerns regarding potential interest rate hikes from the U.S. Federal Reserve. • Investors are now awaiting upcoming inflation data from China, Taiwan, Thailand, and the Philippines to determine if price pressures are stabilizing.

Bizarre 250th spectacle in North Dakota sees Trump take ride on red, white and blue train – and speak with hologram of 26th presidentThe sound of YMCA by the Village People booming through the badlands of North Dakota could only mean one thing: Donald Trump’s 250th anniversary travelling circus had reached a remote corner of America more familiar with bison, wild horses and bighorn sheep.The US president visited Medora on Wednesday to dedicate a $450m library and museum honouring Theodore Roosevelt, the 26th president, in the region where he roamed as a cowboy and big-game hunter in the 1880s. Continue reading...

Acoustic recording of a song titled The World Is Not Enough included in wide-ranging auction featuring formative Coldplay recordingsA lost demo recording of a song Coldplay’s Chris Martin reportedly intended for 1999 James Bond film The World Is Not Enough is going up for auction, alongside other recordings from the band’s earliest years.For the auction by Wax Poetics, the British producer Chris Allison is making available an archive of recordings the band made prior to their Allison-produced second EP The Blue Room, released in October 1999. Continue reading...

• Allianz CIO Ludovic Subran has warned that SpaceX's move into the bond market signals that private equity valuations may have entered "bubble territory." • Subran notes that debt investors will apply much stricter scrutiny to Elon Musk's rocket company than equity investors, who often overlook risks in high-growth private firms. • This shift is significant because it tests whether SpaceX's ambitious growth projections can be supported by actual cash flows and sustainable debt repayment.

Mike Burgess’s annual threat assessment warns social media is ‘amplifying’ an erosion of trust in institutions, promoting discord and heightening polarisationGet our breaking news email, free app or daily news podcastAn Australian citizen working as a senior intelligence officer for Iran “orchestrated” a firebombing in Bondi, the country’s top spy has revealed, while a former Australian resident in Iraq directed the attack on a Melbourne synagogue.The homegrown ties to Australia’s “summer of antisemitism” are contained in a wide-ranging speech given by Australian Security and Intelligence Organisation’s (Asio) director general, Mike Burgess, on Wednesday night, in which he said the “hatred of Jews is one thing virtually all the violent extremist cohorts have in common”. Continue reading...

Chief secretary to PM rules out leadership bid as he says he has received reassurances from BurnhamGood morning. There are very few upsides for Keir Starmer for his current situation, but one of them is that soon he will no longer have to worry about taking PMQs. In his memoir, Tony Blair described PMQs as “the most nerve-racking, discombobulating, nail-biting, bowel-moving, terror-inspiring, courage draining experience in my prime ministerial life, without question”. Today’s could be Starmer’s third last. Including today, there are four Wednesdays between now and Friday 17 July, when Andy Burnham is due to become PMQs, but one of them coincides with the Nato summit, and Starmer should be away for that.While we will hear from Starmer at PMQs, interest in what he has to say may be limited. Power is like water on a surface with a slope; it very quickly heads in one direction and, despite only being sworn in as an MP on Monday afternoon, Andy Burnham is already the most powerful figure in Westminster, and most of the political class is focused on what sort of administration he might lead. There have been three developments overnight.It has emerged that Burnham will appoint James Purnell, who served in cabinet with him under Gordon Brown, as his chief of staff. Here is our story, by Kiran Stacey and Jessica Elgot.Darren Jones, the chief secretary to the PM, has announced that he will not stand as a leadership candidate against Burnham. He had been refusing to rule this out, and some Starmer loyalists were urging him to run. Ben Quinn has the story. Continue reading...

• Tech giants are aggressively expanding their data center infrastructure to support AI, leading to a significant depletion of cash reserves. • To fund these ambitious buildouts, companies are increasingly relying on raising debt, making them more sensitive to fluctuations in the bond market. • This shift matters because rising interest rates increase borrowing costs, potentially making large-scale AI expansions more expensive and difficult to sustain.

• UFC heavyweight champion Tom Aspinall and Manchester City star Phil Foden connected over their shared experience of missing major sporting events in the United States. • Aspinall is currently sidelined due to an eye injury sustained during his first title defense against Ciryl Gane last year. • Foden is also absent from the U.S. after failing to make the England squad for the FIFA World Cup 2026.

• California Senate bill SB 895 has passed, proposing a $12 billion bond to establish a science and health research foundation supporting state universities. • The funds will be distributed via a competitive peer-review process targeting priority areas such as public health, pandemic preparedness, wildfire resilience, and climate studies. • To ensure public benefit, the measure requires drug price discounts and recoupment mechanisms for successful discoveries developed using these public resources.

Former attorney general said expected replacement, Todd Blanche, had been in charge of controversial process. Plus: why are 80% of US consumers angry?Good morning. Appearing before the House oversight and reform committee, the former attorney general Pam Bondi told lawmakers that Todd Blanche, the man Donald Trump has lined up to replace her, was “in charge” of the US Department of Justice’s controversial handling of the Jeffrey Epstein case. She also said she was “not certain of the extent” that Trump knew about the crimes of Epstein and Ghislaine Maxwell before they became public.In her opening statement, Bondi defended the justice department’s handling of the records under her leadership and tried to distance herself from the release and review of the files, saying she did not “lead every aspect” of the DoJ’s effort, but that it was Blanche who oversaw it. If formally nominated by Trump to be attorney general on a permanent basis, Blanche would require confirmation from the US Senate.Why is the release of the files under scrutiny? Several lawmakers as well as survivors of Epstein’s abuse, have criticized some of the department’s actions and raised concerns over certain redactions and the disclosure of sensitive personal information in the files. Bondi acknowledged “there were redaction errors” in the release, but added: “Since day one of this process, this department has been committed to accountability and transparency.”What are the latest developments in Ukraine? In his first public letter to Vladimir Putin since the 2022 invasion, Volodymyr Zelenskyy, has called for face-to-face negotiations. Acknowledging shifting US priorities while Washington remained focused on the Iran war, the Ukrainian president noted it would be wrong to simply wait for the Trump administration to step in. The proposal comes as Ukraine regains some battlefield leverage through improved long-range strike capabilities, even as Moscow intensifies its deadly aerial campaign across the country. Continue reading...

Blanche, whom Trump plans to nominate to replace ex-attorney general, served as Bondi’s deputy at DoJFormer attorney general Pam Bondi told lawmakers that Todd Blanche, the man Donald Trump has lined up to replace her, was “in charge” of the US Department of Justice’s controversial handling of the Jeffrey Epstein case.Appearing before the House oversight and reform committee, which is investigating the late financier and convicted sex offender, Bondi also said she was “not certain of the extent” Trump knew about the crimes of Epstein and Ghislaine Maxwell, the longtime associate of Epstein who is serving a 20-year sentence for sex-trafficking crimes, before they became public. Continue reading...

Police allege the 44-year-old lauded for disarming one of the gunmen in December’s attack put his father in a headlockGet our breaking news email, free app or daily news podcastThe Sydney man who disarmed one of the Bondi terror attackers has been charged with assaulting his father.Ahmed al-Ahmed, 44, is accused of allegedly putting his father in a headlock on 9 March at a house in Bankstown, in the city’s west. Continue reading...

• On June 3, 2026, the three major U.S. stock indexes declined, ending a five-session streak of closing records. • The S&P 500 specifically snapped a nine-session winning streak as investors pulled back from recent highs. • In contrast to the equity markets, Treasury yields and oil prices both experienced gains during Wednesday's trading.

Ex-attorney general was subpoenaed in March but had refused to show after her removal from justice departmentThe former attorney general Pam Bondi will appear before the US House oversight and reform committee on Friday morning to answer questions about the Department of Justice’s handling of the Jeffrey Epstein investigation and its release of the Epstein files under her leadership.The committee announced in late April that Bondi would be appearing before the panel as part of its investigation into Epstein, shortly after Democrats on the committee filed a civil contempt resolution against her. Continue reading...

Lawmakers to have fresh chance to dig for information on Trump’s administration’s handling of issue by grilling former attorney-generalSign up for the Breaking News US emailHello and welcome to the US politics live blog.Former attorney-general Pam Bondi is testifying before the US House oversight and reform committee, a long-awaited appearance that brings fresh scrutiny of the administration’s release of the Epstein files.A jury in Spokane, Washington found an Afghanistan War veteran and two others guilty of federal conspiracy charges on Thursday for their part in a protest last June outside the city’s Immigration and Customs Enforcement (ICE) facility.New Jersey’s governor, Mikie Sherrill, said that state health inspectors were denied full access to the privately run Delaney Hall immigration detention center in Newark, where detainees are staging a hunger and labor strike over health and sanitary conditions, and protesters rallying outside have been tased, pepper-sprayed and detained.At least six of the nine featured musical acts recruited to play on the National Mall in Washington DC this summer, in a concert series planned by the Trump administration to mark the nation’s 250th anniversary, have dropped out of the concert series, just one day after the lineup was announced.US vice-president JD Vance on Thursday told reporters that Washington was “not there yet” with Iran but he said the parties were close, adding that the US was in a position where it could substantially set back Tehran’s nuclear program. Earlier, Iran’s Tasnim news agency, citing a source close to the negotiating team, said the text of a potential memorandum of understanding (MOU) between the two countries had not yet been finalised or confirmed. Continue reading...

Officers were ‘placed at significant risk, being in a gunfight armed with 9mm Glocks against long-arms’, NSW police deputy commissioner saysPolice were outgunned at the Bondi massacre on 14 December, armed with 9mm Glock pistols in a gun battle against rifles, the royal commission on antisemitism and social cohesion has heard.New South Wales police deputy commissioner David Hudson gave evidence to the commission that police officers put themselves in danger to shoot and neutralise the attackers. Continue reading...

Commission also told NSW police declined to provide static police presence at Hanukah by the Sea but four officers at event when attack beganWithin 30 seconds of opening fire at Bondi beach on 14 December, two gunmen targeting Jewish Australians had shot 11 people, killing 10 of them, the royal commission into antisemitism and social cohesion has heard.The second block of public hearings opened in Sydney on Monday morning, taking evidence about what was known about the two shooters.The Jewish organisation, the Community Security Group, asked NSW police to provide a static police presence at the Hanukah by the Sea event for the entirety of the celebration;NSW police declined to provide a static police presence for the entire event, instead allocating a “mobile tasking, that is police officers were instructed to attend the event from time to time during the evening”;At the time the two gunmen opened fire on Jewish community members, there were four police at Archer Park;Within 29 seconds of the start of the shooting, eleven people had been shot, 10 of them fatally;Three police officers were shot and injured in the court of the attack;Within five minutes, there were 11 police officers on the scene;The first shooter was shot and killed and the second shooter was shot and apprehended within seven minutes and 41 seconds after the start of the shooting. Continue reading...

• US Treasury yields have climbed to their highest levels in over a year, coinciding with a stock market rally that has pushed equities toward all-time highs. • While investors fear these opposing trends cannot coexist, the author argues that rising yields are a global phenomenon that will disproportionately harm the US's global peers. • Developed economies such as the UK, Germany, and Japan are facing slower growth due to energy and bond-market conditions without the significant AI spending tailwinds benefiting the US.

Police allege an attender at the Hanukah event before the shooting stole a deceased 61-year-old’s camera equipment then pawned itGet our breaking news email, free app or daily news podcastNSW police have charged a man for allegedly stealing camera equipment from one of the victims of the Bondi beach terror attack, in the aftermath of the shooting.In a statement, police allege that the man had been at the Hanukah event before the shooting on 14 December, in which 15 people were killed. Continue reading...

• Asian stocks were mostly lower on Wednesday as higher bond yields and renewed concern over the war with Iran weighed on risk assets across the region. • Japan’s Nikkei 225 fell 1.2% to 59,804.41, while Hong Kong’s Hang Seng lost 0.7%, Australia’s S&P/ASX 200 dropped 1.3%, and South Korea’s Kospi declined 0.9%. • The U.S. 10-year Treasury yield climbed to 4.66% from 4.61% late Monday, and U.S. crude prices and Brent also slipped as investors assessed inflation and energy risks.

SBS also declines to adopt International Holocaust Remembrance Alliance definition, which some claim conflates criticism of Israel with antisemitismFollow our Australia news live blog for latest updatesSign up for Guardian Australia’s free weekly media newsletter hereThe ABC has chosen not to adopt the definition of antisemitism used by the Bondi royal commission and will use its internal editorial guidance on hate speech instead, in order to maintain its independence.The royal commission on antisemitism and social cohesion announced in February that the inquiry would apply the International Holocaust Remembrance Alliance (IHRA) working definition of antisemitism. Continue reading...

Bookies’ favourite to replace Keir Starmer tones down stance on government borrowing to assuage City investorsUK politics live – latest updatesAndy Burnham has always faced a narrow path to replace Keir Starmer as prime minister: a tricky byelection, a leadership contest that is yet to be declared, and a far from constructive bond market backdrop.In making his pitch, assuaging City investors in particular has led the Greater Manchester mayor to dance on a pin. Continue reading...

Never documented archaeologically before, evidence points to First Nations people caring for and nursing the animalGet our breaking news email, free app or daily news podcastThe discovery of a millennium-old dingo burial site in western New South Wales, including evidence of a “feeding” ritual never before documented archaeologically, has shed new light on the longstanding relationship between the canines and First Nations people.The dingo was buried along the Baaka, or Darling River, in Kinchega national park near the Menindee Lakes. Continue reading...