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US officials: The incident in the Strait of Hormuz will not threaten negotiations with Iran.

On May 28, the Trump administration filed a lawsuit challenging the decisions of four Democratic-led states to refuse to issue secret license plates to U.S. Immigration and Customs Enforcement (ICE) agents. The administration argues that these states have long provided such plates to other law enforcement agencies conducting undercover operations. The Justice Department announced Thursday that it has filed lawsuits against Maine, Massachusetts, Oregon, and Washington. These four states refused to rescind their policies and prevent ICE from obtaining such plates to carry out arrests—part of Republican President Trump's crackdown on immigration enforcement.

On May 28th, Axios reported that AI chipmaker Groq Inc. is raising up to $650 million from existing investors to form a new company following a $20 billion licensing agreement with Nvidia (NVDA.O). This new company, dubbed "Groq2," will reportedly transition away from chip manufacturing and focus on building "AI neoclouds" services.

The U.S. Treasury Department said it has removed 76 names from its sanctions blacklist in an effort to increase focus on high-risk targets.

Federal Reserve's Mussalem: The risks are currently more tilted toward the inflation side.

Federal Reserve's Mussalim: If these scenarios do occur and inflation declines, interest rate cuts could be considered.

On May 28th, Futu Holdings (03588.HK) held its Q1 2026 results briefing. The company disclosed that its total brokerage transaction volume reached HK$4.15 trillion in Q1, a year-on-year increase of 29% and a quarter-on-quarter increase of 4%, with US stock trading volume reaching HK$3 trillion. As of the end of Q1, the company's assets under management reached HK$1784 trillion, a year-on-year increase of 28%. Company executives stated that the company maintained a market share of over 50% for its Hong Kong local clientele. In overseas markets, its independent brand moomoo recorded high year-on-year revenue growth, including over 100% growth in five countries: Japan, Canada, Australia, the United States, and Malaysia. The company has over 2 million clients with assets under management, with an average AUM of approximately US$18,000 per client.

Federal Reserve Chairman Mussaleam: We may also see a slowdown in economic growth in the second half of the year.

Federal Reserve's Mussalim: It would worry me if inflation doesn't fall back in the next one or two quarters.

On May 28, following the latest round of US airstrikes, Iranian Deputy Foreign Minister Qazim reiterated Iran's assertion of control over the Strait of Hormuz. According to Iran's semi-official Tasnim News Agency, Qazim, speaking at a ceremony commemorating the commander-in-chief of the Revolutionary Guard, accused the US of violating the ceasefire agreement and stated that Iran's sovereignty over the waterway "is now established." He said, "We will never allow them to undermine Iran's sovereignty over the Strait of Hormuz through these military actions."

Federal Reserve Chairman Mussalim: There is a possibility that the economy may need to raise interest rates.

Federal Reserve's Mussaleam believes that inflation risks may not converge to the target as we would like.

U.S. Treasury Secretary Bessenter: All countries should resolutely reject any actions by Iran that undermine the free flow of trade. The days of Iran intimidating the region and the world are over.

On May 28th, the Trump Accounts app launched on major app stores across the United States. Treasury Secretary Bessenter stated in a press release, “The Trump Administration has taken another step in expanding opportunities for American families. The Trump Accounts app provides families with a simple, secure way to participate from the outset in a program designed to build long-term financial strength.” According to a Treasury spokesperson cited by CNBC, the app was developed in partnership with BNY Mellon and Robinhood Markets. Starting in July, parents or guardians will be able to fund new Trump Accounts (also known as 530A accounts). Parents must first fill out a form on the Trump Accounts website to open an account for their child. While all American children under 18 with a Social Security number can register, only children born between 2025 and 2028 will receive a $1,000 start-up fund from the Treasury Department.

On May 28th, Tencent's Hunyuan announced the official launch of Hy-Memory. According to reports, this is a memory plugin specifically designed for long-term collaborative agents like Openclaw, truly becoming the agent's "second brain."

On May 28th, Federal Reserve Chairman Mohamed Mussaleem stated that policymakers cannot expect a potential productivity boom driven by artificial intelligence to alleviate persistently high inflation. Mussaleem noted, "I think it would be risky to rely on improved future productivity growth prospects to solve our current inflation problem." The conflict with Iran has reignited upward pressure on prices and prompted more policymakers to warn that further interest rate hikes may be necessary if inflation remains high. Mussaleem warned that, after adjusting for inflation, the Fed's benchmark interest rate is currently below the so-called "neutral level"—a level that neither inhibits nor stimulates the economy. He also pointed out that the labor market remains stable, inflation is "significantly above" the Fed's 2% target, and long-term inflation expectations are "gradually rising."

On May 28th, according to a local port agent, three crude oil tankers sanctioned for belonging to a Russian "shadow fleet" were attacked by drones last night off the coast of Turkey in the Black Sea. The port agent's report indicates that the "Altura" and "Velora," managed by Turkish authorities, were attacked while conducting ship-to-ship cargo transfer operations. Ship tracking data shows that the two ships arrived in the area on May 24th. Local media previously reported in March that the "Altura," carrying approximately 1 million barrels of Russian Urals crude oil, was also attacked.

US Treasury bonds continued to rise; the 10-year yield fell 5 basis points to 4.43%.