Bonds & Stocks
A rally in the world’s largest tech companies drove stocks higher as bonds stabilized, with traders awaiting jobs data for validation of wagers the Federal Reserve will resume cutting rates in September. Treasuries were little changed after a slide that drove the 30-year yield close to 5% amid investor concerns about global fiscal outlooks and a slew of corporate debt sales.
Economy
President Donald Trump’s campaign to reshape the Federal Reserve gains ground on Thursday with an accelerated Senate confirmation hearing on his nomination of a close adviser to be a governor of the central bank.
World
Chinese President Xi Jinping projected defiance at a once-a-decade military parade, showcasing the nation’s growing firepower and diplomatic influence alongside his closest international allies. The Chinese leader stood flanked by Russia’s Vladmir Putin and North Korea’s Kim Jong Un on Beijing’s Tiananmen Gate, watching over the vast square as formations of goose-stepping soldiers marched in unison and a new generation of tanks and missile launchers rumbled past.