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Lebanon announced a partial ceasefire between Hezbollah and Israel on Monday in what would amount to a limited de-escalation of a conflict that has killed thousands of people and inflamed the broader U.S.-Israeli war with Iran. RTRS
The fighting in Lebanon had become a major sticking point in end-of-war talks as Iran considers the conflict a violation of the U.S.-Iran ceasefire. Trump received briefings in recent weeks that the Israel-Hezbollah conflict was one of the key reasons why Iran remained unwilling to make a deal with the U.S., Trump administration officials said. WSJ
The Trump administration on Monday proposed a 25 percent tariff on a broad range of Brazilian imports, concluding after a trade investigation that Brazil had engaged in unfair practices that imposed burdens on American businesses. NYT
The White House will cut tariffs on agricultural equipment, such as combines and harvesters, to 15% from 25% on June 8. A lower 10% duty rate may apply if the equipment contains at least 85% US steel or aluminum. BBG
Gold has overtaken US government bonds as the world’s top reserve asset following years of relentless buying by central banks and a historic rally that has seen prices nearly double over the past two years. FT
SK Hynix plans to double its memory chip wafer capacity over the coming half-decade to ease a global shortage of a key AI component. BBG
Former BOJ board member Sayuri Shirai said the central bank may hold rates steady this month because underlying inflation pressures haven’t strengthened that much. BBG
The US is discussing whether to deploy nuclear weapons in additional European Nato states, in a move intended to reassure allies that reduced conventional military support does not weaken security guarantees. FT
NVDA CEO Jensen Huang said on Tuesday the company has enough supply to accommodate robust growth in central processing units (CPUs) and graphics processing units (GPUs) as it rides an AI boom. The company, considered a barometer for the AI market's health as its semiconductors are used in virtually every major data center in the world, acknowledged, however, that supply constraints remain a concern. RTRS
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