Bonds & Stocks
Stocks joined bonds lower after the latest batch of economic reports did little to alter bets the Federal Reserve will raise interest rates before the year is over. The S&P 500 was little changed. The yield on 10 year Treasuries advanced three basis points to 4.66%.
Economy
A closely watched US price gauge rose in line with expectations in July and consumer spending stalled, giving the Federal Reserve room to hold interest rates steady.
World
Iran’s military said it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as the two sides push for a wider deal on the management of the crucial waterway.