Kursk offensive, Red Sea update / Trump rambling / Fed's RRP <$300bn / GOLD near all time highs / U.S PPI next

1y inflation exp from ⁦New-York Fed is down to 2.97% in July … lowest since November 2020 >>>> The median of these forecasts has the July core CPI up 0.19%, which would lower the 12-month rate to 3.2%, PPI next up later on
Markets grinding higher as no retaliation in Iran, yet anyway, many threats but so far quiet..Kursk offensive: Ukraine's Commander-in-Chief Oleksandr Syrskyi declared that Ukraine now controls around 1,000 km² of Russian territory. Kamala increasing her lead in the polls
What did we learn from that interview ? In a rambling two-hour interview on X that was delayed by glitches, Trump also praised the leaders of China, Russia and North Korea as 'at the top of their game'-FT
The delinquency rate on commercial mortgage-backed securities (CMBS) for offices spiked to 8.1% in July, the highest in 11 years
#XAUUSD Barrick Gold excellent earnings report, $300M free cash flow and a huge buy back program >>> most gold companies will see big cash flows with gold around $2400+
JP Morgan notes that equities are no longer a one-way trade as debate opens up on the downside risk to growth. Where the market focus for 1H2024 was the path of inflation, 2H2024 is shaping up to be about risk. JP Morgan is forecasting a 50bps Fed rate cut in each of the September and November FOMC meetings, as well as one 25bps cut in December
The much-feared American recession isn't coming, Bank of America chief says. Brian Moynihan warned of a dispirited consumer if the Federal Reserve doesn't cut rates soon. Goldman: We are tracking Q2 GDP growth at 2.5% and Q3 at 2.6%. "Solid final demand growth is one reason why we expect demand for workers to hold up and prevent significant further deterioration in the labor market."
The Fed’s Reverse Repo (RRP) facility has dropped below $300 billion for the first time since 2021. The RRP is one of the financial system's excess liquidity metrics and is widely watched by investors
"Almost 90% of planned hydrogen plants have no buyers with contracts to use the fuel."
UK labour market remains stronger than expected: unemployment rate fell from 4.4 per cent in the second quarter to 4.2 per cent - better than expected