Bonds & Stocks
Front-end Treasury yields fell to session lows after US President Trump called for Fed Governor Cook’s resignation amid a broader campaign by the White House to remake the central bank in pursuit of interest-rate cuts. US 2-year note’s yield declined as much as 1.5bp from Tuesday’s closing level after erasing a similar-sized increase, reaching 3.73%, the lowest level since Friday.
Economy
The modest decline this year in US import prices , which exclude tariffs, despite the hike in levies suggests that American merchants are shouldering most of the additional costs associated with President Donald Trump’s trade war. Almost every monthly import price figure in 2025 has been revised down, highlighting the possibility that the latest bump in July will be as well, even as prices continue to adjust to the tariff hikes.
World
Ukraine says Russia launched a massive drone attack over the southern port city of Izmail in Odesa region, damaging port infrastructure as well as industrial facilities, residential areas and gas distribution station, according to President Volodymyr Zelenskiy and local authorities’ Telegram reports. Zelenskiy said that Ukraine’s northern and eastern regions of Sumy, Chernihiv, Kharkiv and Donetsk were also under an attack overnight, mostly private houses were hit.