Top Overnight News
Israel said it killed Iran security chief Ali Larijani and the commander of Iran’s paramilitary Basij unit. Iran ramped up attacks on energy assets around the Persian Gulf, setting a massive UAE gas field ablaze. BBG
Iraq said it’s in contact with Iran to allow some oil tankers to pass through the Strait of Hormuz after the OPEC nation was forced to reduce oil output to a quarter. BBG
President Donald Trump has asked America’s NATO allies to help unblock the Strait of Hormuz — and their response has not exactly been enthusiastic. “This is not our war, we have not started it,” German Defense Minister Boris Pistorius told reporters Monday. That appeared to sum up the mood among U.S. allies, with leaders from Berlin to London expressing reservations about Trump’s demands and indicating they had no immediate plans to provide military support to reopen the crucial waterway. NBC
Trump announces and signs executive orders to bring more community banks back into the mortgage business and to lower construction costs for building more affordable homes.
Despite more than two weeks of relentless airstrikes, U.S. intelligence assessments say, Iran’s regime likely will remain in place for now, weakened but more hard-line, with the powerful Islamic Revolutionary Guard Corps security forces exerting greater control. WaPo
China said Tuesday it remains “in communication” with the United States over a widely anticipated visit by President Donald Trump to Beijing, after Trump said he had requested a delay of about a month because of the ongoing war with Iran. SCMP
The PBOC is set to surpass the ECB as the world’s largest central bank this month, as measured by respective balance sheets in dollar terms. BBG
The IMF raised concerns about Ukraine’s ability to keep receiving aid from its $8.1 billion package as lawmakers stall on measures to unlock the financing, its representative said. BBG
Australia’s central bank raised interest rates on Tuesday as the conflict in Iran worsened existing concerns around an acceleration in inflation and the country’s reliance on oil imports. The Reserve Bank of Australia increased the official cash rate to 4.10% from 3.85%, the second increase this year. WSJ
BYD and Hyundai were among Asian auto stocks that rallied after announcing plans to work with Nvidia on autonomous vehicle development. BBG
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