Economy
Treasury’s bond-buying plan fails to calm long-dated yields
Thirty-year Treasury yields rose toward 5.30% after remarks on potential intervention by U.S. Treasury Secretary Scott Bessent drew little market response.
Japan's core inflation steady at 1.8% in July, BOJ rate hike odds rise
Consumer prices rose 1.8% year-on-year, matching forecasts, while service inflation edged up.
30-year U.S. mortgage rate falls to 6.65%: Freddie Mac
The average 30-year fixed-rate mortgage declined for a second straight week, easing to 6.65% from 6.67% a week earlier. The 15-year rate also dipped slightly.
Japan's July exports rise 23.2% y/y, trade deficit widens to $4.01bn
Exports grew for an 11th straight month, outpacing forecasts, while imports surged 27.8% and the trade gap expanded to 634.5 billion yen.
China holds benchmark lending rates steady for 15th month in August
The People's Bank of China kept the one-year and five-year loan prime rates unchanged at 3.00% and 3.50%, respectively, as policymakers prioritize fiscal support over further monetary easing amid weak July economic data.
Global bond yields surge to multi-decade highs on US turmoil
US long-term borrowing costs hit 2007 highs, dragging G7 yields higher amid Iran war, inflation fears and political uncertainty. Central bank responses remain uncertain.
St. Louis Fed’s Musalem keeps September rate call open
Federal Reserve Bank of St. Louis President Alberto Musalem said he will not prejudge his view ahead of the September FOMC meeting, citing dependence on incoming data.
Fed's Musalem signals data-dependent stance ahead of September meeting
St. Louis Fed President says September rate decision hinges on incoming data, with inflation still above target. Comments underscore cautious approach to policy amid mixed economic signals.
Mexico’s central bank holds rates at 6.5% amid inflation concerns
Banxico signals prolonged pause as services inflation remains sticky, while peso gains 6% in 2026.
China holds loan prime rates steady for 15th month in August
The People's Bank of China kept the one-year and five-year loan prime rates at 3.00% and 3.50%, respectively, as weak domestic demand and banking sector constraints limited policy options.
U.S. 30-year Treasury yield jumps 5.4 bps after debt buyback plan
Long-dated U.S. bond yields rose after the Treasury announced a larger debt buyback program, while global stocks edged higher following four straight sessions of declines.
Switzerland adopts EU’s 20th Russia sanctions package
New measures include asset freezes on 115 entities and a ban on Russian crypto platforms and digital ruble support. Implementation begins August 20.
U.S. Treasury may expand bond buyback program beyond $4 bln per issue
Secretary Bessent signals potential increase in Treasury bond repurchases to stabilize markets and address yield distortions. Update follows surprise doubling of buyback size announced Wednesday.
Swiss borrowers overpay by CHF 18,000/year on long-term mortgages
Households refinancing into decade-long fixed-rate loans during 2023’s brief high-rate window now face annual overpayments of up to CHF 18,000 versus Saron-linked or short-term options, data shows.
U.S. debt surpasses $40 trillion for first time
Total public debt hits $40.047 trillion as Treasury ramps up long-dated bond buybacks to ease yields amid rising term premiums.
U.S. Treasury doubles long-dated bond buybacks after yield surge
Long-dated U.S. Treasury yields fell 10 bps after the government doubled planned bond buybacks. Stocks rose, gold and bitcoin gained, while the dollar weakened sharply against the Swiss franc.
Fed minutes signal potential rate hikes if inflation persists
July FOMC minutes show most policymakers favored holding rates but saw upside inflation risks. Three dissenters pushed for a 25-basis-point hike as oil prices and geopolitics cloud the outlook.
Fed minutes show growing inflation worries at July meeting
Minutes from the July 28-29 Federal Reserve meeting reveal increased concerns over broad-based price pressures, with three policymakers dissenting in favor of a rate hike. The benchmark rate remained at 3.50%-3.75%.
U.S. jobless claims and Philly Fed index due Thursday
The Philadelphia Fed manufacturing gauge and weekly unemployment figures are set for release at 7:30 a.m. ET, with forecasts pointing to modest changes in labor and business conditions.
Latin America growth seen slowing to 2.2% in 2026: UN agency
ECLAC revises down 2026 GDP forecast to 2.2% from 2.3%, citing a more challenging global backdrop. Region expected to log five straight years of ~2.3% average expansion by 2027.
U.S. Treasury doubles buyback sizes for 10- to 30-year debt to $4 bln
Longer-dated Treasury buybacks to rise to at least $4 billion per operation from September, as yields on 30-year bonds hit 19-year highs. Maximum repurchases could reach $83 billion through November.
Euro zone current account surplus widens to €35.1 bln in June
Primary income gains lift the bloc’s surplus to the highest since March, while the 12-month surplus narrows to 1.7% of GDP.
South Africa's July inflation slows to 4.3%, below forecasts
Consumer prices rose 4.3% year-on-year in July, easing from 5.0% in June and below the 4.5% estimate. Food inflation hit a 16-year low as fuel prices fell sharply.
Extreme weather costs Europe billions as droughts and heatwaves strain economies
Record temperatures and low water levels disrupt shipping, power generation and agriculture, with Allianz estimating a 0.3 percentage point hit to euro zone GDP this year. Southern Europe faces prolonged growth losses and fiscal strain.
FOMC minutes, Target and Analog Devices earnings in focus
U.S. stock futures edge higher ahead of Fed minutes while retailers and chipmakers report earnings. Oil prices rise on Iran tensions, tariffs on Canadian goods paused.