Columbus, OH

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Trailer Empire

The bond market has been buoyed by the Federal Reserve's recent hints that a rate cut may be on the horizon this September, leading to a noticeable drop in mortgage rates. Investors are reacting to the Fed's subtle language changes, anticipating a potential shift in monetary policy.

Mortgage Rates Plunge as Fed Signals Potential September Rate Cut

(Reuters) -Atlanta Federal Reserve President Raphael Bostic is open to an interest rate cut in September, he told the Financial Times in an interview published on Thursday, adding that the U.S. central bank can't "afford to be late" to ease monetary policy. "I'm open to something happening in terms of...

Fed's Bostic Open to September Rate Cut, FT Reports

Markets Insider

Stocks could see a 1995-like rally after the Fed cuts rates, said Wells Fargo's head of global investment strategy.

Stocks will embark on a run of gains unseen in 30 years after the Fed cuts rates, Wells Fargo strategy chief says

Small cap summer may end up being this bull market’s final form. Think of it like the internal waves churning thousands of feet deep beneath the ocean — ones that finally summon a real altcoin season. I spent the morning sorting the crypto market into different categories: mega-cap,...

Small cap summer: This bull market’s final form

TheStreet

Inflation pressures are easing, but the pace is painstakingly slow.

CPI inflation report upsets betting on big Federal Reserve rate cut

People are getting impatient with the Federal Reserve.

The Fed is about to do something it hasn’t done since the pandemic

Bank of America's Michael Hartnett isn't very optimistic about the future of the US economy and stock market.

'Sell the first rate cut': Bank of America's top global strategist warns stocks could be in for trouble as the economy heads toward a hard landing and the Fed gets set to slash rates

Core inflation — less food and energy — remains slightly higher than the all items index. Marking the first month of sub-3% inflation since March 2021, the headline CPI in July was 2.9%, matching the expectations of most market watchers. Over the 12 months ending July, the all items index increased 0.2% after declining 0.1% in June’s cooler-than-expected reading, today’s release from the Bureau of Labor Statistics shows.

Inflation Slows To 2.9% In July

Las Vegas, NV

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Bellingham Metro News

LAS VEGAS, NEVADA - A magnitude 4.4 earthquake struck areas near Las Vegas on Tuesday night, according to the United States Geological Service (USGS). The quake, which occurred at 8:06 p.m., was centered approximately 45 minutes from Las Vegas, near Indian Springs.

Magnitude 4.4 Earthquake Shakes Areas Near Las Vegas

Reuters

(Reuters) - U.S. retail sales rose more than expected in July, which could help to allay financial market fears of a sharp economic slowdown that were fanned by a jump in the unemployment rate.

Instant View: Strong data takes 50 bp cut in September off the table

Ohio State

The Lantern

On Tuesday, licensed Ohio dispensaries began legally selling non-medical marijuana to consumers; however, the drug’s possession, growth and/or usage are still prohibited on Ohio State’s campus. Credit: Jefferee Woo/Tampa Bay Times/TNS [Original caption: Four citizen-led petitions with proposals to update Dallas’ charter hit the 20,000 valid signature threshold to make it on the Nov. 5 election ballot, including one that would ban police officers from arresting or citing people carrying less than four ounces of marijuana.] As of Tuesday, students 21 and older can now legally purchase marijuana in Ohio.

Dispensary sales of recreational marijuana began Tuesday; possession and usage still prohibited on Ohio State’s campus

Kentucky State

Northern Kentucky Tribune

Major changes to how real estate transactions are conducted are set to take affect this month that will effect how both sellers, and buyers, compensate their agents. On March 15, the National Association of Realtors (NAR) settled a lawsuit brought by home sellers regarding how broker commissions were handled. As a result of that settlement, the NAR will remove agent compensation amounts from Multiple Listing Services, provide detailed compensation information to buyers and sellers and attain a written agreement outlining that compensation structure.

Broker commissions on real estate transactions will look a lot different starting August 17

There are many reasons to celebrate the BlackRock Flexible Income ETF (BINC). The actively managed multisector ETF launched less than 15 months ago. It is already approaching $4 billion in assets. It’s also now among the larger active fixed income ETFs joining products from Fidelity, JPMorgan, and PIMCO. BINC...

Golden Age for Fixed Income at BlackRock

South Carolina State

Georgia State

Charlotte, NC

Daily Coffee Press

Here we (could) go again.. After making a second landfall in South Carolina, Debby weakened to a tropical storm and now located close to Charlotte, North Carolina. Despite the downgrade, the storm remains a threat, bringing heavy rainfall and tornado watches across North Carolina. Tragically, Debby has claimed six lives, including two in Georgia. Although Debby will soon lose its tropical characteristics, the risk of flooding and tornadoes persists as it moves into other states.

NHC Monitors Potential New Storm That Could Threaten Georgia

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J. Souza

According to cruise industry reports, the world's largest cruise ship is sailing well above 100% capacity, thanks to more beds being filled on recent sailings. Royal Caribbean’s newest flagship, the Icon of the Seas, is proving to be an unprecedented success, with occupancy rates far exceeding expectations.

The Largest Cruise Ship in the World is Sailing at 132% Capacity: How This is Even Possible

Although last month's CPI data was well-received by the bond market for coming in below expectations and showing a notable drop in the shelter component, the producer price index was much higher than expected. While bonds were able to look past the headline and ultimately stabilize, it nonetheless raised questions about the risks of choppy inflation readings persisting. Today's PPI release not only revised last month's a bit lower, but also came in significantly lower than expected at the core level. Bonds aren't rushing to trade it as proof positive of a repeat with tomorrow's more important CPI data, but it's certainly not hurting so far this morning.

First Inflation Data of the Week Sets a Hopeful Tone

The Bank of Japan will adopt a more cautious approach to hiking interest rates after the recent global market turmoil and to avoid rapid appreciation in the yen, BMI said in a recent note. "We expect that the BoJ will take a more cautious approach and only hike by 25bps...

Bank of Japan will take longer to hike rates given the yen's rapid strengthening, BMI says

NEW YORK (Reuters) - The dollar held gains against the euro on Thursday, pulling the European common currency back from a seven-month peak, after U.S. economic data eased fears of a recession risk and dampened expectations for aggressive interest-rate cuts.

Dollar holds gains on reassuring data, euro slips

Gold prices rebounded after a post-CPI selloff, aided by a struggling US Dollar Index. A sustained move above $2500/oz for gold may require an additional catalyst, like geopolitical risks. The DXY faces challenges and is likely to remain subdued, with technical indicators suggesting a potential retracement. Will it Materialize?. Gold...

Gold (XAU/USD) Bounces Back After US CPI, DXY Faces Challenges

Wisconsin State

The State of Wisconsin increased its IBIT shares by 447,651 as of June 30. SWIB sold all its shares in GBTC, where it previously held 1,013,000 shares. The State of Wisconsin Investment Board (SWIB) added 447,651 shares of BlackRock’s iShares Bitcoin Trust (IBIT) to its investment portfolio, bringing the total holdings to 2,898,051 as of June 30, as disclosed in a recent SEC filing. The filing also showed that SWIB completely exited its position in the Grayscale Bitcoin Trust (GBTC).

Wisconsin state boosts BlackRock's Bitcoin ETF shares, exits Grayscale Trust

NewsBreak

One month out from FOMC: Zooming in on the expected rate cut

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One month out from FOMC: Zooming in on the expected rate cut

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