Market 06/24: Capital Flows from Gold and Bitcoin into USD and Bonds

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Key Headlines:

• Hormuz: Iran to charge no fees, 8 million barrels of oil pass through daily

• Israel-Lebanon negotiations in the U.S.: No progress yet

• Trump delays signing housing reform bill

• SK Hynix to IPO in the U.S., Samsung to buy back 90 trillion won in shares

• Japan to invest $2.3 trillion in AI

• US oil inventories continue to drop sharply, oil falls below $70

• May new home sales miss expectations

• vs 6.6% last week

• Morgan Stanley caps withdrawals at 5%

• 2 days after the CLI launched and went viral, Justin was fired

• OpenAI's first custom AI chip

• The final quarter in which FedEx consolidated the Freight segment's results

• This, combined with recent strong economic data and Bessent's confident remarks this morning, caused both the USD and U.S. Treasuries to surge on the same day (a rare occurrence).