Morgan Stanley CEO Gorman: Expect more consolidation in asset management.

McCarthy, Speaker of the US House of Representatives: Negotiations (with hardliners) involve spending levels.

Market news: US House of Representatives Speaker McCarthy plans to meet with US hardliners today.

Morgan Stanley CEO Gorman: I will definitely resign within a year.

White House: The meeting between Biden and NATO Secretary-General Jens Stoltenberg has been rescheduled for Tuesday.

The 3-year U.S. Treasury yield edged up 0.60 basis point to 4.253%.

New York City has agreed not to enforce laws against Airbnb until September.

[U.S. uninsured deposits set a record quarter-on-quarter decline in the first quarter] U.S. bank uninsured deposits fell by $597.49 billion to $7118 trillion in the first quarter, down 7.8% quarter-on-quarter and 15.2% year-on-year. It fell to 42.2% from 44.9% in the first quarter. Uninsured deposits have been in the spotlight since bank failures in March. For Silicon Valley Bank and Signature Bank, two banks with high levels of uninsured deposits, regulators applied a systemic risk exception to insure all their deposits. However, the regulator did not apply the exception when First Republic Bank collapsed in May and was acquired by JPMorgan Chase & Co. Both the amount of uninsured deposits and the percentage of total deposits at U.S. banks have fallen since the first quarter of 2022, with the quarter-on-quarter decline the largest to date.

[Dutch ING: The Fed may cut interest rates sharply in the fourth quarter, which is expected to hit the dollar] ING Bank said that the dollar should fall sharply by the end of the year as the Federal Reserve may cut interest rates sharply in the fourth quarter of this year. Analysts at the bank said in a note that the Fed is still likely to raise interest rates one last time this summer, but is expected to cut rates sharply in the fourth quarter after deflation became more pronounced in the third quarter. "This means that we are still looking for the beginning of a multi-year cyclical bear market trend, likely starting in the third quarter." Analysts said EUR/USD could rise from the current 1.0755 to above 1.15 by the end of the year, analysts said.

U.S. senators will be briefed on artificial intelligence on Tuesday afternoon local time.

IMF data showed that the Republic of Kazakhstan lowered its gold holdings by 2.35 tonnes to 316.69 tonnes in May 2023.

Goldman Sachs CEO Solomon: For regional banks in the United States, I think there may be more bankruptcies. Historically, the number of banks has continued to decrease. Especially for regional mid-sized banks, the pressure is even greater as they face increasing operating costs and regulatory burdens.

Goldman Sachs CEO Solomon: (asked about the bankruptcy of Silicon Valley Bank and possible regulatory actions) Goldman Sachs is ready. We believe that large global systemically important banks (G-SIBs) are already too strong to require additional capital, but in the current reassessment environment, Goldman Sachs is well positioned to adapt to new demands.

Bank of England monetary policy member Mann: Policy is still "working through expected channels".

Bank of England Monetary Policy Committee Mann: Inflation expectations are falling.

Bank of England monetary policy member Mann said: She is very concerned about the role of sterling.

Goldman Sachs CEO Solomon: Think inflation is more sticky.