Dan Jarvis said to be the frontrunner to replace former UK Defence Secretary Healy, Telegraph reports

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[MARKET UPDATE] Immediate upside in Crude benchmarks after Trump posts "will be hitting Iran VERY HARD"; Fixed income hit, USD bid, high-beta FX falters

US President Trump says will be hitting Iran VERY HARD TONIGHT; and the US "will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets" in the not too distant future

Dan Jarvis said to be the frontrunner to replace former UK Defence Secretary Healy, Telegraph reports

ECB STATEMENT: Rates hiked by 25bps; deposit facility to 2.25%, main refinancing operations to 2.40%, marginal lending facility to 2.65%

ECB June Macroeconomic Projections: Baseline HICP: 2026 3.0% (prev. 2.6%), 2027 2.3% (prev. 2.0%), 2028 2.0% (prev. 2.1%). Real GDP: 2026 0.8% (prev. 0.9%), 2027 1.2% (prev. 1.3%), 2028 1.5% (prev. 1.4%).

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