Economy update
Stocks remain bid after yesterday’s auspicious US retail sales and jobless claims data. The current seemingly solid state of the US economy makes a cut in interest rates unlikely this month. Consequently, the Fed chair will remain the subject of intense criticism from the US President, unnerving investors. June core inflation in Japan slowed somewhat, but at 3.3% it is still well above the central bank’s target of 2%. The dollar index is edging lower, and US bond yields are also a tad lower.
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