Sunday's News Links

[AP] US and Canada fall deeper into a trade war with new tariffs as talks collapse and blame is spread

[Politico] Inside the 72 hours that cratered the US-Canada trade deal

[AP] Iran’s president says US memorandum is best path out of stalled war, and other Middle East news

[Reuters] Iran says new sanctions threatened by 'desperate' US will fail

[Yahoo/Bloomberg] Bessent Has No Easy Fix for What’s Really Driving Bond Yields Up

[Yahoo/Telegraph] Trump is in another unwinnable war – this time with the bond market

[Yahoo/Fortune] Mark Walter’s sports empire offers a glimpse of the money machine behind private credit—and the plumbing keeping it together

[Bloomberg] ‘It’s a Carry World’: EM Trade Notches Longest Run Since 2008

[Bloomberg] Warsh to Make First Jackson Hole Speech as Fed Chair

[Bloomberg] China ‘Actively Committed’ to Iran Talks With Tensions Rising

[Bloomberg] Putin Is Betting Russia Can Out-Suffer Ukraine

[NYT] U.S. Economy Could Feel the Sting From Trade War With Canada

[NYT] The Data Center Backlash Bursts Into the Midterms

[NYT] The World’s Breadbaskets Are Getting Pounded by War, Weather and Trade Spats

[WSJ] U.S., Canada Spiral Toward Trade War

[WSJ] What’s Getting Hit With the New U.S.-Canada Tariffs

[FT] Mark Carney says Canada ‘at war’ with US over trade

[FT] Anthropic’s best AI model struggles to attract users as cheaper tools thrive

[FT] Are America’s vast Gulf bases worth rebuilding?

Saturday's News Links

[Reuters] Wall St Week Ahead Nvidia earnings, Jackson Hole to test pillars of stock rally

[Reuters] Canada to impose retaliatory tariffs across a raft of US sectors, Carney says

[AP] US imposes 50% tariffs on $20 billion worth of Canadian products. Canada says it will retaliate

[Yahoo/Bloomberg] Trump’s Economic Isolation Plan Risks Iran Strikes Across Gulf

[Reuters] US, Iran keep up hostile rhetoric ahead of new sanctions

[AP] Why the bond market is flexing its muscles, and why everyone needs to care

[WP] As debt surpasses $40 trillion, the bill for Washington spending comes due

[Reuters] US imposes deep Colorado River water cuts to California, Nevada and Arizona

[NYT] Canada Is ‘at War’ in Trade Battle With U.S., Carney Says

[NYT] Carney Stands Up to Trump in Trade War Despite the Risks

[NYT] The Economy Got Used to Low Borrowing Costs. Their Exit Could Pose Risks.

[NYT] For Gen Z, Building Wealth Is in the Stock Market, Not the Housing Market

[WSJ] Canada Announces New Post-Labor Day Tariffs

[WSJ] The Wild Week When Scott Bessent Was Schooled by the Bond Market

[WSJ] Upheaval at Fannie Mae Raises Stability Concerns

[FT] Canada vows to match US tariffs as trade talks collapse

[FT] Bossing the bond market around never works

[FT] Trump’s economic challenge: $40tn debt, 6.7% mortgages and $5 diesel

[FT] Mark Walter’s unravelling empire tests the insurance trade behind private credit’s rise

[FT] Chart of the Week: Who owns government bonds?