Tuesday's News Links

[CNBC] S&P 500 slips after benchmark index rises for sixth straight day: Live updates

[Yahoo/Bloomberg] Japan Bonds Plunge as Weak Auction Adds to Fear Over BOJ Retreat

[Yahoo/Reuters] Japan's super-long bond yields soar to records as market frets about demand

[Yahoo/Bloomberg] Oil Swings as Iran Leader Throws Fresh Doubts Over Deal With US

[AP] Trump is heading to Capitol Hill to persuade divided GOP to unify around his ‘big, beautiful’ bill

[Axios] Johnson offers $40,000 SALT deduction cap with income limits

[Axios] Tornado-spawning storms threaten central U.S. after deadly outbreak

[AP] More severe weather pummels the central US as thousands recover from deadly tornadoes

[Yahoo/Reuters] Japan is sticking to demand for US to eliminate tariffs, trade envoy says

[Reuters] Dollar set for more weakness as 'Brand USA' falls further out of favor

[Yahoo Finance] Citi CEO: Something 'deeper' is going on in financial markets right now

[Yahoo/Bloomberg] ECB Sees Financial Stability Risks From Escalating Global Trade Tensions

[Yahoo/Reuters] ECB's Escriva sees risks to global financial sector from U.S. trade policies

[AP] Slow progress and no major breakthroughs dampen hopes for Russia-Ukraine peace deal

[BBC] Trump's call with Putin exposes shifting ground on Ukraine peace talks

[Reuters] EU, Britain go ahead with new Russia sanctions without waiting for Trump

[AP] Iran’s supreme leader rejects US stance on uranium enrichment

[Reuters] China cuts key rates to aid economy as trade war simmers

[Yahoo/Bloomberg] China Ran Record Budget Deficit With Spending Blitz Amid Tariffs

[Yahoo/Bloomberg] China Imports the Most Platinum in a Year as Squeeze Tightens

[Bloomberg] SALT Agreement Remains Elusive for House GOP on Trump Tax Bill

[Bloomberg] Florida's Real Estate Strength Is Turning Into a Weakness

[Bloomberg] US Downgrade Sounds Alarm for Hong Kong Funds in Treasuries

[Bloomberg] China Banks Cut Deposit Rates to Aid Margins, Drive Spending

[Bloomberg] Japan’s 20-Year Bond Auction Gets Weakest Demand Since 2012

[WSJ] Breaking Down What’s in the GOP Tax Bill

[WSJ] America’s Fiscal Situation Threatens the Good Mood on Wall Street

[WSJ] Radical Market Swings Leave Some in the Pension Crowd on Edge

[FT] Donald Trump’s ‘big, beautiful’ tax bill heightens concerns over US debt

[FT] Has Donald Trump abandoned Ukraine?

[FT] Will Trump’s tariff climbdown save the US from recession?

[FT] Iran’s supreme leader says he does not expect US talks to ‘yield results’

[FT] Japan’s long-term borrowing costs hit record high on demand fears

[FT] China’s Xi Jinping steps up calls for industrial self-sufficiency amid trade war

Monday Evening Links

[AP] Stocks, bonds and the dollar drift after the latest downgrade to the US government’s credit rating

[Axios] The real message of the Moody's downgrade

[Axios] Two-hour Trump-Putin call ends without ceasefire

[Reuters] Europeans to pressure Russia with sanctions, Germany says

[Yahoo/Reuters] Moody's downgrades JPM, BofA and Wells Fargo after US credit rating cut

[Yahoo/Reuters] JPMorgan’s Dimon sees 'extraordinary amount of complacency' as markets recover from tariff shock

[Yahoo/Reuters] Trade deals not expected at G7 meeting, joint statement must serve US priorities, source says

[Yahoo/Bloomberg] LA Port Shipments Fell 30% in Early May After Trump Tariffs

[Yahoo/Reuters] Tariff truce will not spark cargo boom at busiest US seaport, executive director says

[Yahoo Finance] Fed's Powell has sounded the alarm for years about the nation's 'unsustainable' fiscal path

[Bloomberg] Retail Traders Go on Record Dip Buying Spree, Calming a Jumpy Stock Market

[Bloomberg] Dimon Warns Markets Are Underestimating Geopolitical, Inflation Risks

[Bloomberg] Trump Hands Putin a Win With Retreat From Ukraine Peace Talks

[NYT] Trump Berates Companies for Warning About Tariff Price Increases

[NYT] Trump Wants to Fulfill His ‘No Tax on Tips’ Promise. The Details Get Tricky.

[WSJ] Washington Deserved a Downgrade

[WSJ] Trump-Putin Call Yields No Breakthrough on Ukraine Cease-Fire

[FT] Donald Trump leaves Russia and Ukraine to settle war in talks

Monday Afternoon Links

[AP] US stocks, bonds and the dollar slip after the latest downgrade to the US government’s credit rating

[AP] Trump’s big bill teeters as House conservatives demand more changes

[Yahoo/Bloomberg] Trump Tax Bill Advances After Deal for Faster Medicaid Cuts

[Yahoo Finance] Moody's downgrade rattles stocks but not Republicans pushing Trump's 'big beautiful bill’

[Bloomberg] China Accuses US of Undermining Trade Talks With Warnings Against Huawei Chips

[CNBC] Ray Dalio says the risk to U.S. Treasurys is even greater than what Moody’s is saying

[Politico] Vance: US ‘more than open to walking away’ from Ukraine-Russia talks

[Bloomberg] Moody’s Market Jolt Will Leave Its Mark

[Bloomberg] Fed Officials Signal Possible Rate Hold Until at Least September

[Bloomberg] Jim Millstein Says US Risks ‘Fiscal Disaster’ If Recession Hits

[FT] Moody’s throws Trump a curve ball