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Western allies seek to forge joint defence against cheap Chinese steel
‘Heightened sense of urgency’ as global steel production capacity to exceed demand by 38% by 2027
Foreign investors snap up Japanese government bonds as yields surge
Overseas traders buy long-dated JGBs at record pace this year amid drop-off in demand from domestic institutions
Japan’s Takaichi unveils $135bn stimulus to spur growth
Package is prime minister’s first major policy announcement since taking office seven weeks ago
Trump lifts 40% tariff on some Brazilian food products
White House cites ‘initial progress’ in trade talks with Brasília as it battles discontent over cost of living at home
Top Fed official warns on risk hedge funds pose to $30tn Treasury market
Lisa Cook says growing prevalence of so-called basis trades makes markets ‘more vulnerable to stress’