Bonds & Stocks
Wall Street traders drove stocks higher and bond yields fell as more evidence that inflation isn’t broadly accelerating reinforced bets the Federal Reserve will refrain from raising rates next month. The S&P 500 rose 0.3%. The yield on 10-year Treasuries declined five basis points to 4.64%.
Economy
US wholesale inflation decelerated in July by more than estimated as energy and food costs fell, likely giving the Federal Reserve more time to assess price pressures at upcoming meetings.
World
Iran has reorganized its military to be more aggressive abroad as talks on ending the war with the US remain mired in stalemate, a sign that Tehran is preparing for a protracted era of regional conflict.