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The yield on Germany's 10-year government bond hovered around 2.95%, close to the two-month low of 2.93% reached the previous week, as oil prices retreated and signals for resolving the Middle East conflict remained mixed.The US President and the Israeli Prime Minister gave differing accounts of their phone call on the Lebanon conflict, with the US urging a ceasefire while Israel's stance remained ambiguous. Previously, there were reports that Iran had suspended talks with the US and demanded an end to the fighting in Lebanon, but the US claimed that negotiations were progressing rapidly.Investors also digested eurozone inflation data: the inflation rate rose to 3.2% in May, the highest since the end of 2023. Core inflation was 2.5%, and the services sector inflation stood at 3.5%, indicating that price pressures are spreading.The market currently expects the ECB to raise interest rates by 25 basis points next week, with a possible two hikes this year. However, ECB officials have warned against overcommitting, while another official believes a further rate hike after June is possible.

Glonghui, June 2｜After rising 7.09% yesterday, MP Materials (MP.US) continues to climb 1.02% in pre-market US trading today, reaching $70. On the news side, investment bank Needham initiated coverage on MP Materials with a "Buy" rating and a target price of $81. Analyst Carter Goman stated that, as the largest rare earth materials producer in the Western Hemisphere, MP Materials is a "clear leader" in the industry and has a "first-mover advantage." He believes that as the global supply chain becomes increasingly segmented, the rare earth industry is at the early stage of an investment cycle that will persist for years. (Glonghui)

The head of the Oil Division at the International Energy Agency: Before the summer demand peak arrives, inventories may fall to critical levels.