News

Foresight News reports that, according to Bitget market data, Strategy (MSTR) shares fell approximately 5.7% in pre-market trading, currently trading at $149.85.Previously, from May 26 to May 31, the company sold 32 Bitcoin, with a transaction amount of $2.5 million.

⑴ On Monday, US dollar swap spreads widened moderately, with the spread curve moving in parallel. Over the weekend, the US and Iran launched military strikes against each other, as negotiations and conflict entered their third month. The Iranian Revolutionary Guard claimed to have retaliated against US military bases. Funding rates rose, SOFR futures correspondingly fell, and oil prices rebounded by over 3.0%. ⑵ US Treasury yields were mixed, with the yield curve flattening after the new US-Iran attacks. During the Tokyo trading session, the ongoing energy shock continued to fuel inflation concerns, and Japanese government bonds drove US Treasury yields upward. However, stalled Q1 capital expenditure growth and a slowdown in PMI in Japan limited further upside. ⑶ Swap curve buying mainly came from interest rate hedging against investment-grade supply and directional market bets through swap payments. Last week, investment-grade issuance exceeded expectations at $41.95 billion, and supply this week is expected to be between $30 billion and $40 billion. If absolute yields remain stable, issuers may rush to complete quarterly financing. ⑷ European stock markets and US equity index futures declined, while the US dollar and oil prices rose. Gold retreated due to the rebound in the dollar. However, US stocks later shook off concerns and rebounded, focusing on the positive impact of Nvidia’s new AI chips. The Nikkei Index broke through 67,000 points for the first time, and SoftBank Group became Japan’s largest company by market value. Chinese stocks fell to a six-week low due to profit-taking in tech stocks and weak factory data.

⑴ On Monday, CBOT soybean futures rose 0.2% to $11.89-1/2 per bushel, while wheat rose 0.4% to $6.12-3/4 per bushel, mainly boosted by oil prices climbing about 3% as Middle East conflict intensified again. During periods of conflict, the grain market follows crude oil fluctuations, partly reflecting biofuel demand for crops.⑵ However, CBOT corn futures fell 0.2% to $4.45-3/4 per bushel, hitting a new six-week low for the second consecutive trading day. Drying weather in the US Midwest eased concerns over planting delays, while rainfall in the Plains alleviated drought fears.⑶ An East 8 Zone trader said that if energy supplies remain tight, more grains and oilseeds will be diverted to biofuels. CM Navigator analysts pointed out that progress on a ceasefire remains unclear, and prices are recouping part of the war risk premium. The market is waiting for the US Department of Agriculture's weekly crop progress report to be released after the close on Monday. Northern Hemisphere harvest prospects and uncompetitive US soybean export prices are both limiting wheat's rally.