Friday's News Links

[CNBC] Stock futures are flat after rate-cut hopes send market to new highs: Live updates 

[Reuters] How government debt stress could roll across world markets

[AP] Schumer warns of a shutdown if Republicans don’t accept Democrats’ health care demands

[Axios] Grocery inflation highest since 2022 as Trump tariffs pile up

[Axios] Exclusive: Lutnick says Trump will force drugmakers to lower prices

[Reuters] US to deploy National Guard to Memphis, Trump says

[CNBC] China warns Mexico to ‘think twice’ before raising tariffs, threatens countermeasures

[Yahoo/Bloomberg] China Bond Flow Data Suspended After Market Selloff Deepens

[AP] France sends jets to Poland, the UK ramps up sanctions in a signal to Russia not to escalate

[Reuters] Poland says Russian drone incursions could not have been a mistake, contradicting Trump

[Axios] NATO isn’t ready for Russia’s drones

[Reuters] Russia and Belarus start military exercise near NATO border after drone incursion

[Bloomberg] What Would a New Treasury-Fed Accord Look Like?

[Bloomberg] Municipal Bond Fund Collapse Exposes Dangers of Junk Debt

[Bloomberg] China Gives Mexico Stiff Warning Over Tariffs Seen Appeasing US

[Bloomberg] China’s First Bond Issuance Slowdown of 2025 Curbs Credit Growth

[Bloomberg] China’s Summer of Economic Weakness Likely Stretched Into August

[NYT] Klarna’s Market Debut Shows Wall Street’s Renewed Appetite for I.P.O.s

[WSJ] Russian Drone Incursion in Poland Tests NATO Defenses, Cohesion

[WSJ] Confusion, Anger, Relief: Korean Engineer Tells of Week in U.S. ICE Detention

[FT] Tett: Interest rates are a sideshow in the battle over the Fed’s future

[FT] US Supreme Court to decide how far Donald Trump’s power really goes

[FT] Israel’s attack on Qatar has shaken the Gulf

Thursday Evening Links

[CNBC] Stock futures are flat after rate-cut hopes send market to new highs: Live updates

[AP] Rising inflation and a deteriorating job market puts the Fed and Americans in a difficult spot

[Yahoo/Bloomberg] Trump Asks Court to Pause Order Letting Cook Stay at Fed

[CNBC] Treasury Secretary Bessent met this week with Warsh, Lindsey and Bullard as Fed chief search continues

[Axios] "This is existential": MAGA's siege mentality deepens after Kirk killing

[AP] Average rate on a 30-year mortgage falls to lowest level in nearly a year

[Yahoo/Bloomberg] Brazil’s Bolsonaro Found Guilty in Coup Case by Majority of Supreme Court Panel

[Bloomberg] Gold Surpasses Inflation-Adjusted Record High Set in 1980

[Bloomberg] US Deficit Tracks Third-Highest Ever Even as Tariff Take Rises

[Bloomberg] Shutdown Risk Grows as GOP Rebuffs Schumer Health-Care Demands

[Bloomberg] US Household Net Worth Rebounds in Second Quarter on Stock Rally

[NYT] Rise in U.S. Inflation Is Likely to Keep Fed Cautious on Pace of Rate Cuts

[WSJ] Noonan: Charlie Kirk’s Assassination Feels Like a Hinge Point

[WSJ] Sorry, Inflation Still Lives

[FT] American right vows vengeance after killing of Charlie Kirk

[FT] Fed set to lower interest rates despite rising inflation

[FT] Debt linked to collapsed subprime auto lender Tricolor tumbles

[FT] US coffee prices surge at the supermarket amid supply crunch