Base Metals Rally: Copper jumped above $14,000/ton and aluminium hit a multi-year high as investors priced tighter supply risks and stronger demand, with HSBC warning of a possible “super-squeeze” if Middle East disruptions persist. Fuel Cost Shock for Trade SMEs: In South Africa, mixed petrol/diesel moves underline how volatile USD-priced fuel and FX swings ripple through logistics, imported inputs, pricing, and cash flow for small cross-border operators. India Demand Cools: India’s gasoline and diesel demand growth is forecast to slow after Iran-war-linked price hikes, with trucking already showing stress and analysts cutting 2026 growth expectations. Central Bank Watch: The RBI MPC starts June 3; most economists expect a pause at 5.25% but see tightening later in FY27 as fuel and geopolitical risks feed inflation. US Rates Signal Shift: Reports say the Fed may scale back forward guidance, potentially reducing visibility for mortgages and corporate borrowing decisions. Labor Still Resilient: US job openings rose to 7.6m in April, while hiring remains cautious—supportive, but not a green light for aggressive expansion. AI Infrastructure Funding: Alphabet plans to raise up to $80bn via equity, including a Berkshire deal, to fund AI capacity expansion. Vietnam Trade Pressure: Vietnam’s trade deficit hit a record $5.21bn in May as imports surged on higher input costs and inventory building, while tariff risks loom. UK Retirement Risk: New pension forecasts point to a widening savings gap, with only a small share on track for a comfortable retirement. Market Microstructure: Chinese investors cut Hong Kong stock exposure as AI-linked mainland shares look more immediate, shifting flows away from H-shares. Corporate Turnaround: B&M shares surged after a smaller-than-feared profit fall and early progress on execution and pricing competitiveness.