Good morning.

🇮🇱 Israeli Embassy Staff Killed in DC

Two Israeli embassy staff were shot dead outside Washington's Jewish museum on Wednesday night by a gunman who chanted "free Palestine" while in custody. The victims, Sarah Lynn Milgrim and Yaron Lischinsky, were leaving a diplomatic reception when 30-year-old Elias Rodriguez of Chicago opened fire at close range. The FBI is investigating as terrorism and hate crime, with Israel stepping up embassy security worldwide. More - Financial Times

🇺🇸 Bond Market Revolt

Bond investors are pushing back against Trump's tax-cut plans, driving 30-year Treasury yields to 5.1% near two-decade highs amid concerns over ballooning deficits. The selloff follows a weak 20-year bond auction and Moody's recent US credit downgrade, with fiscal hawks in Congress citing market turmoil as evidence against the tax cuts. Bond vigilantes are imposing higher borrowing costs to force fiscal discipline, as US debt reaches 100% of GDP with interest payments exceeding defense spending. More - Bloomberg

🇵🇸 IDF Fires on Diplomats in West Bank

Israeli forces fired near an international diplomatic delegation visiting the Jenin refugee camp on Wednesday, with no injuries reported. The Israeli military claimed the group deviated from an approved route, while diplomats from EU, Arab and Asian nations were assessing humanitarian conditions during Israel's ongoing four-month military operation. Multiple countries have condemned the incident, summoning Israeli ambassadors and demanding investigations into what Palestinian authorities called a "heinous crime." More - Al Jazeera

🇺🇦 Former Ukrainian Official Murdered in Spain

Former Ukrainian deputy chief Andriy Portnov was shot dead outside a Madrid school after dropping off his children, with the gunman fleeing into nearby woods. Portnov, 51, had served under ousted pro-Russian president Viktor Yanukovych and was sanctioned by the US in 2021 for allegedly undermining judicial reforms. No arrests have been made and the motive remains unclear, though Spain has seen recent killings linked to both Russian hitmen and Ukrainian intelligence operations. More - BBC

Asia Stability Ratings and News Summary

More Unstable

🇦🇫 Afghanistan, 🇦🇲 Armenia, 🇦🇿 Azerbaijan, 🇧🇩 Bangladesh, 🇰🇭 Cambodia, 🇹🇱 East Timor, 🇬🇪 Georgia, 🇮🇳 India, 🇮🇩 Indonesia, 🇯🇵 Japan, 🇰🇿 Kazakhstan, 🇰🇬 Kyrgyzstan, 🇱🇦 Laos, 🇲🇻 Maldives, 🇲🇳 Mongolia, 🇲🇲 Myanmar, 🇳🇵 Nepal, 🇰🇵 North Korea, 🇵🇰 Pakistan, 🇵🇭 Philippines, 🇸🇬 Singapore, 🇰🇷 South Korea, 🇱🇰 Sri Lanka, 🇹🇼 Taiwan, 🇹🇯 Tajikistan, 🇹🇭 Thailand, 🇹🇲 Turkmenistan, 🇻🇳 Vietnam

More Stable

No countries were more stable over this period

Unchanged

🇧🇹 Bhutan, 🇧🇳 Brunei, 🇨🇳 China, 🇲🇾 Malaysia, 🇺🇿 Uzbekistan

Asia News Summary

In Singapore, a notable surge in Covid-19 cases has raised alarms among residents and health authorities, leading to longer emergency wait times in hospitals. The Ministry of Health is closely monitoring the situation as experts warn of a potential wave following the holiday season [SOURCE - ET HealthWorld].

Amid these health concerns, Singapore Airlines has reported a record annual profit of S$2.8 billion, bolstered by its merger with Air India. This financial success reflects a broader trend of recovery in the aviation sector [SOURCE - Channel NewsAsia]. However, the real estate market is experiencing a downturn, with home sales declining for the second consecutive month as demand weakens amid global economic uncertainty [SOURCE - Bangkok Post].

In the realm of international relations, tensions between India and Pakistan remain high, with China reaffirming its support for Pakistan amidst ongoing disputes. Chinese Foreign Minister Wang Yi's recent discussions with Pakistani officials have focused on regional stability and the acceleration of the Mohmand Dam project, following India's threats regarding water resources [SOURCE - Daily Times]. 

In economic news, India has emerged as a top destination for investors, surpassing Japan in preference due to its robust economic growth. This shift is indicative of a positive outlook for India's market, as fund managers increasingly favor it over traditional powerhouses [SOURCE - Times of India]. Concurrently, Apple is positioning India as a major hub for production, despite ongoing geopolitical tensions, signaling confidence in the country's manufacturing capabilities [SOURCE - The Economic Times].

Additionally, a global shift in student mobility is emerging, with India poised to become a leading destination for international students, particularly as visa restrictions tighten in Australia and other Western nations [SOURCE - The Hindu].

Meanwhile, Vietnam is actively enhancing its trade relations, particularly with Thailand and the United States, as it seeks to combat online fraud and reduce tariffs. The Vietnamese government is optimistic about reaching a trade volume of $25 billion with the US [SOURCE - Bangkok Post]. However, the country faces challenges, including a recent landslide that resulted in fatalities, highlighting the need for improved disaster preparedness [SOURCE - Malay Mail].

In the Philippines, the economy is grappling with a decline in vehicle sales, which fell sharply in April. Despite this setback, the Philippine Stock Exchange has shown resilience, rebounding thanks to a strengthening peso [SOURCE - Manila Times]. Additionally, China is looking to deepen its logistics ties with the Philippines, which could bolster economic cooperation between the two nations [SOURCE - Manila Times]. 

Oceania Stability Ratings and News Summary

More Unstable

🇫🇯 Fiji, 🇰🇮 Kiribati, 🇳🇷 Nauru, 🇵🇼 Palau, 🇵🇬 Papua New Guinea, 🇼🇸 Samoa, 🇸🇧 Solomon Islands, 🇹🇴 Tonga, 🇻🇺 Vanuatu

More Stable

No countries were more stable over this period

Unchanged

🇦🇺 Australia, 🇫🇲 Federated States of Micronesia, 🇲🇭 Marshall Islands, 🇳🇿 New Zealand, 🇹🇻 Tuvalu

Oceania News Summary

Australia is undergoing a significant shift in its economic strategy, particularly in its relationships with neighboring countries. At a recent summit in Indonesia, Prime Minister Anthony Albanese emphasized the importance of security and trade ties with Indonesian President Subianto, marking a pivotal moment for bilateral relations [SOURCE - The Economic Times]. Concurrently, the Australian government has reduced interest rates to a two-year low, a move aimed at alleviating inflation concerns and navigating global trade tensions [SOURCE - RTT News].

In South Australia, workers at Smith's snack food company have initiated a strike, advocating for better working conditions and pay [SOURCE - World Socialist Web Site]. Meanwhile, Australian clothing manufacturers are increasingly pushing to bring production back home, a response to ongoing trade wars that could create new domestic employment opportunities [SOURCE - ABC News].

The Australian government's proposed food strategy has faced criticism for prioritizing profits over public health, raising concerns about the nation's overall well-being [SOURCE - The Conversation]. 

Australia has expressed strong condemnation of Russia's decision to imprison an Australian soldier, highlighting the growing tensions between the two nations [SOURCE - The Manila Times]. On a more positive note, Australia is reportedly nearing the conclusion of a free trade agreement with the European Union, which could enhance economic ties [SOURCE - The Times of India].

In Queensland and New South Wales, lifeguards are owed a staggering $400,000 as a company enters liquidation, raising alarms about the financial stability of the sector [SOURCE - ABC News]. Meanwhile, Australian meat producers are seizing opportunities in the Chinese market, which could bolster exports and stimulate economic growth [SOURCE - ECNS].

In New Zealand, Parliament is set to debate the suspension of Māori lawmakers who performed a protest haka against the government's proposed Three Waters reform, a move that underscores ongoing tensions regarding Māori rights [SOURCE - Times of India].

New Zealand is grappling with soaring food and power prices, with the cost of eggs nearing $9 a dozen, significantly impacting households [SOURCE - Economic Times]. In response to these economic pressures, the New Zealand government is introducing a policy on full capital expensing, allowing businesses to reclaim the full cost of capital expenses [SOURCE - Scoop].

In Christchurch, health workers are voicing their struggles amid increasing pressure on the healthcare sector [SOURCE - RNZ]. Save the Children has called on the government to prioritize children's well-being in the upcoming budget, highlighting the urgent need for improved social services [SOURCE - Scoop].

Carpe tomorrow!