Daily Update — June 11, 2026
Stablecoins and US Banks; Future of North American Trade; and Oversupply Pressures US Shrimp Prices
Today is Thursday, June 11, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Digital Assets
Credit FAQ: How Stablecoins' Growth Could Affect US Banks
In July 2025, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act was signed into law. The legislation sets the stage for stablecoin use to expand, potentially disrupting the US banking sector’s payment income. Industry participants are still awaiting finalized regulations pursuant to the GENIUS Act, as well as other legislation via the Digital Asset Market Clarity Act, to bolster the digital asset regulatory framework. This regulatory clarity could spur issuer growth and stablecoin demand.
Today, most demand for US dollar-pegged stablecoins originates outside the US. As a result, stablecoins pose limited immediate risk to domestic US bank deposits or national payment rails and generate demand for US Treasurys. This dynamic could shift if stablecoins expand beyond their current usage as primarily settlement assets for crypto trading or as a hedge against local-currency volatility abroad.
Global Trade
Listen: From Free Trade to Managed Trade: The Next Phase of USMCA
In this episode of “The Decisive” podcast, John Raines and Jose Enrique Sevilla-Macip of S&P Global Market Intelligence’s country risk team joined host Kristen Hallam to examine the future of the US-Mexico-Canada Agreement (USMCA) and discuss why North American supply chains have remained broadly resilient since the treaty took effect.
Trilateral trade reached roughly $1.8 trillion in the 12 months to August 2025, setting high stakes for governments, investors and manufacturers as the 2026 review process unfolds. Mexico continues to benefit from regionalization and reshoring, while the US is increasingly focused on trade deficits, investment screening and the role of Chinese firms using North America as a production platform. Canada, meanwhile, faces a more difficult negotiating environment shaped by tariffs, political friction, and growing divergence from the US on industrial policy, data rules and trade alignment.
Agribusiness
Global production growth outpaces demand, pressures US shrimp prices
US shrimp prices remain under pressure as a prolonged imbalance between global supply growth and demand continues to weigh on the market, industry participants said. Platts, part of S&P Global Energy, assessed peeled deveined tail-on 16-20 count/lb shrimp at $4.20 on May 29, down 10 cents from the beginning of the month.
Sources attributed the decrease to ample inventories, cautious purchasing activity and expanding global supplies as output from major producers such as Ecuador and India outpaces consumption. "The market is difficult because it's not only about selling, but also managing tariffs and uncertainty," one importer said.
In case you missed it
- Spain’s pork industry faces multiple headwinds in 2026, including Chinese antidumping duties on EU pork, African swine fever-related import restrictions, rising competition from Brazil and persistent feed cost inflation.
- Members of Australia's Offshore Alliance endorsed extending a strike at Inpex-operated Ichthys LNG sites to eight hours a day from June 11.
- Hong Kong banks will likely face more regulatory controls and monitoring for investment accounts held by mainland Chinese residents.
Upcoming events
- Building Resilience: The Credit Impact of European Defense Spending | June 16 (Paris)
- Inside European Private Debt Markets: How Software and Services Companies Navigate the AI Journey | June 17 (Webinar)
- An Unprecedented Oil Supply Shock and What It Means | June 23 (Webinar)