[Fed policymakers still grappling with modestly improving inflation data] The minutes of the Federal Reserve meeting showed that although Fed staff still expect a "moderate recession" later this year, policymakers are still grappling with persistent tightness in the labor market, Inflation data improved only modestly. Officials are also trying to reconcile headline data showing continued strength in the economy with evidence that could point to weakness. Forecasts released after the June meeting showed that only two of 18 Fed officials saw no need to raise rates.

[A split Fed puts Powell facing challenges] Analysts comment on the Fed minutes: Powell seems to have succeeded in getting all officials to support a pause (rate hike) in June, but it is clear that it will be a challenge for him to maintain this unanimity.

U.S. Treasuries were little changed after the release of the Fed minutes, with U.S. 10-year yields up 8.20 basis points on the day to 3.940%.

Fed Minutes: All participants agreed that maintaining a tightening stance was appropriate.

FOMC Minutes: Some participants said they supported or likely supported a 25 basis point increase in the target rate.

FOMC Minutes: Officials say gross domestic product (GDP) has been strong in recent quarters but will be subdued for remainder of 2023.

Fed Minutes: Officials see downside risks to growth. The risk of rising unemployment has risen.

The IMF said a board meeting on Pakistan would be held on July 12.

OPEC Secretary-General told the Emirates National News Agency: Discussions with countries that are new to the organization help to strengthen its cohesion.

The OPEC secretary-general told the Emirates state news agency: The organization is in discussions with Azerbaijan, Malaysia, Brunei and Mexico about joining.

The RBI allowed Credit Suisse (now bought by UBS) to retain its license to operate in India.

Valkyrie reapplied for a spot bitcoin exchange-traded fund (ETF) and listed Coinbase as a monitoring partner.

The Fed accepted a total of $1.867 trillion from 102 counterparties in fixed-rate reverse repurchase operations.

Ukrainian Interior Minister Klimenko: The man who detonated the explosives in the Kiev court has died.

Chilean National Copper Company (CODELCO): Copper production will begin to resume next year.

U.S. Treasury yields continued to climb, with the 10-year Treasury yield up 8 basis points to 3.93%.

The Pentagon says there is no single point of failure for control of classified military documents.

The Pentagon said the review found ambiguity in rules around the control of classified information and inconsistencies in its application across the military.