Bonds & Stocks
Treasuries fell as traders geared up for a $22 billion sale of 30-year bonds that will test appetite for longer-term debt amid concerns about a ballooning deficit and the economic impacts of a US trade war. Stocks wavered, with investors sifting through earnings reports.
Economy
Headline initial jobless claims surprised to the downside for the week ending July 5, but we’re taking the data release with a grain of salt. Auto manufacturers’ summer retooling likely leads to imperfect estimates of the seasonal-adjustment factors, suppressing adjusted initial claims.
World
After years of mounting concern over deflation and the bruising price wars that have plagued much of China’s economy, President Xi Jinping’s government is showing signs of finally taking action.