U.S. forces conducted airstrikes on Iran for the seventh consecutive night; Iran struck U.S. unmanned surface vessels in Bahrain and warned that it has entered a phase of 'full-scale offensive and destruction.'
The U.S. military stated that it launched a new round of strikes against Iran on Friday afternoon, Eastern Time. On the same day, Iran’s armed forces claimed to have struck a U.S. naval vessel in the Indian Ocean using land-based cruise missiles and to have attacked and destroyed a U.S. unmanned surface vessel storage facility in Bahrain. Iran’s Supreme Leader’s military advisor stated that the U.S.-Iran memorandum of understanding has become effectively void. If the United States continues its attacks in the coming days, Iran’s armed forces will move beyond the current phase of 'deterrence and retaliation' into a phase of 'full-scale offensive and destruction.'
Tensions in the Middle East continue to escalate, with U.S. forces conducting airstrikes on Iran for the sixth consecutive night, and Tehran launching missile strikes against Gulf allies.
The U.S.-Iran military conflict entered its sixth night, with both sides continuing to exchange attacks, causing a sudden escalation in spillover effects and posing a severe risk of disruption to global energy supply chains.
U.S. forces conducted airstrikes on Iran for the fifth consecutive night, shipping traffic through the Strait of Hormuz has fallen to one-tenth of pre-war levels, and the White House stated that Iran is still engaged in dialogue with the U.S.
Iran reiterated that it has no hostile relations with its Gulf neighbors and warned that the Strait of Hormuz is a 'red line,' stating that if the United States attacks Iran's critical infrastructure, it will retaliate against infrastructure across the entire Gulf region. Shipping agency data showed that only 13 commercial vessels passed through the strait on the 16th. The White House stated that Iran ultimately seeks an agreement with the United States. It was reported that Iran informed Yemen's Houthi forces that if the U.S. strikes Iran's power grid, the group should block the Bab el-Mandeb Strait.
Iran is reported to be planning to open a front at the Strait of Mandeb, with Houthi forces already deploying missile-equipped drones on standby.
According to three sources who spoke to Reuters on Thursday, Iran has asked Yemen's Houthi militants to prepare to shut down the Red Sea oil shipping route under specific conditions: if the United States attacks Iran's power infrastructure, the Houthis would take action at the Bab el-Mandeb Strait. This arrangement has been discussed within Iran's top leadership bodies and has already been communicated to the Houthi group.
In July, the medium- to long-term fixed deposit rates of two institutions fell below the 2% threshold, signaling an accelerating erosion of private banks' high-interest-rate advantage.
① At the start of the second half of the year, following Shanghai Huarui Bank’s reduction in its five-year fixed deposit rate, Sushang Bank recently followed suit by adjusting its three-year fixed deposit rate. After these adjustments, the upper limits of fixed deposit rates at both private banks have fallen below the 2% threshold. ② The withdrawal of high-yield deposits may lead to a slowdown in asset growth for small and medium-sized banks. In the short term, their interest-margin-dependent business model will face pressure, weighing on net profits.
By no means due to short-term sales! CCB surpasses ICBC with RMB 4.9 trillion in assets under custody—ranking reflects 5–10 years of accumulated strength.
① China Construction Bank surpassed ICBC with RMB 4.9 trillion in net asset value of publicly offered fund custody assets, ranking first in the industry; the top five institutions together held a market share of 50.31%, and all top-ten positions were occupied by banks. ② The shift in custody scale was not driven by sales dynamics over the past two years, but rather by differences in how seriously banks have prioritized this business over the last five to ten years.
Hyundai Motor plans to fully acquire Boston Dynamics, potentially forcing SoftBank to sell its shares at a steep discount.
① Hyundai Motor plans to acquire SoftBank's stake in Boston Dynamics, which would result in Hyundai owning 100% of Boston Dynamics upon completion; ② The shares involved in the transaction are valued at approximately $325 million, implying an overall valuation of about $3.3 billion for Boston Dynamics—significantly lower than market estimates; ③ Analysts noted that SoftBank has little room to reject the deal, which will strengthen Hyundai’s control over Boston Dynamics and pave the way for a future IPO.
Ongoing U.S.-Iran tensions continue to pose a threat, with the U.S. potentially taking further action to cap oil prices; the White House is reported to be considering another extension of the 'vessel sanctions' waiver.
According to reports, one option currently under discussion at the White House is to continue allowing foreign-flagged vessels to transport cargo between U.S. domestic ports, but potentially with added geographic restrictions, limiting applicability to specific regions only. In April, the Trump administration extended the Jones Act waiver by 90 days, through August 16.
Wash: AI pushes up prices but not necessarily inflation; no inflation metric is precise, and Trump has not attempted to interfere with the Federal Reserve.
Worshe acknowledged that June CPI and PPI data showed improvement, but noted that inflation indicators do not perfectly reflect underlying inflationary conditions. He stated that one-off price changes do not necessarily lead to sustained inflation, and emphasized that the inflationary impacts of AI and external conflicts are fundamentally different when viewed through the lens of market supply-side responses. The AI boom has already driven up prices for chips and other components, and prices could rise further over the next 12 months; whether this evolves into broader inflation will depend on the Federal Reserve's actions. He added that he has 'repeatedly' told Trump that he is independent, that Trump has never asked him to do anything improper, and that if such a request were ever made, he would not comply.
The U.S. military stated it carried out a 90-minute strike against Iran.
On the 15th, U.S. Central Command posted a statement on social media announcing that U.S. forces completed a 'morning strike' against Iran at 7:30 a.m. Eastern Time on the 15th (7:30 p.m. Beijing Time).
Multiple banks have recently launched new credit card offerings with diverse features, including computing-power-themed cards and overseas financial services, with mid-to-high-end customer segments remaining a key focus for acquisition.
① Although the era of prioritizing scale has ended, credit card businesses still hold unique value in retail finance. As a business model characterized by 'front-loaded risk,' banks can continue to acquire high-value customers through appropriately set eligibility thresholds. ② High-value retail customer segments—such as IT engineers and individuals pursuing overseas education—will inevitably remain the primary focus for major banks’ credit card business expansion.
Iran Can Afford to Wait, Trump Cannot: A Strait of Hormuz Endurance Contest Under the Shadow of Midterm Elections
The extraordinary significance of this round of conflict lies in its potential to determine who controls the Strait of Hormuz.
Escalating tensions between the U.S. and Iran? Trump reportedly held a meeting in the White House Situation Room to discuss a 'devastating strike' against Iran.
Latest reports indicate that the United States may launch a larger-scale strike against Iran next.
The public fund custody landscape is being reshuffled, with the long-standing market leader dethroned—broad-based index funds are the driving force behind this shift.
① China Construction Bank (CCB) surpassed Industrial and Commercial Bank of China (ICBC) in custody assets under management with RMB 4.89 trillion, leading by approximately RMB 78.2 billion. ② ICBC experienced significant redemptions from several large-cap broad-based ETFs, causing a notable decline in its custody scale. ③ CCB demonstrated stronger capacity to absorb newly launched funds this year, with 'Longying FOF' contributing nearly RMB 10 billion.
Trump plays the blockade card again! Will crude oil prices only rise and hardly fall as the 'NACHO bet' makes a wild comeback?
Investors are being forced to accept the 'ghost story' they once feared most and are restarting 'NACHO' trades. Meanwhile, Trump's latest proposal to impose new fees on passing vessels has been directly criticized by industry insiders as effectively causing crude oil freight costs to surge by $16 per barrel.
Express News | Hong Kong-listed oil and gas equipment stocks surged strongly, with BCI Oil Services rising over 20% and Shandong Molong climbing more than 15%. Oil stocks also advanced, with PetroChina up over 3% and CNOOC gaining nearly 3%. International oil prices con
Express News | Trump believes that reaching an agreement with Iran is possible, and that the United States will ultimately control the Strait of Hormuz.
Express News | Trump Threatens Strike on Iran's 'Fordow' Underground Nuclear Facility
OPEC Monthly Report: UAE Crude Oil Output Surges 80% in June; Downgrades Global Oil Demand Forecast for 2026
The UAE's daily crude oil production in June reached 3.8 million barrels, surging by 1.71 million barrels—or approximately 80%—from May. After announcing its withdrawal from OPEC in early May, the UAE is no longer bound by output quotas and successfully maintained exports by rerouting shipments through the Strait of Hormuz during U.S.-Iran tensions. OPEC has revised down its forecast for global oil demand growth in 2026 to 780,000 barrels per day (from a previous projection of 970,000 barrels per day), representing an increase of about 0.7% compared to 2025.
Trump announced the reimposition of sanctions on Iran and a 20% 'protection fee' on cargo shipments through the Strait of Hormuz.
Trump unveiled a new proposal regarding the Strait of Hormuz, reportedly catching Gulf allies off guard. International oil prices surged immediately in response, prompting markets to raise expectations for interest rate hikes by the Federal Reserve and the European Central Bank, while gold prices briefly approached the $4,000 mark.