Key Takeaways
- Global bond yields are climbing, with U.K. 30-year gilts reaching 1998-highs.
- U.S. open jobs decreased to 7.2 million in July, indicating a slowing labor market.
- XAI's CFO departed, marking another high-profile exit from Elon Musk's AI firm.
- Florida proposes eliminating all vaccine mandates, which would be a U.S. first.
- President Trump announced plans to deploy National Guard troops to New Orleans.
- U.S. billionaires total 1,135, collectively holding $5.7 trillion in wealth.
Deep Dive
- Global bond yields are increasing, with U.K. 30-year gilts reaching levels not seen since 1998.
- WSJ columnist Spencer Jakab attributed this rise to investor anxiety over government financing.
- Factors include high government deficits and concerns over potential inflation, impacting long-term bond risks.
- Total open jobs in the U.S. decreased unexpectedly to 7.2 million in July.
- This indicates a labor market that is slowing, but not stalled.
- Major U.S. stock indexes ended mixed, with the tech-heavy NASDAQ leading gains.
- American Bitcoin, a Bitcoin mining company, began trading on the NASDAQ Stock Exchange.
- The company is backed by President Trump's sons, Donald Trump Jr. and Eric Trump.
- Donald Trump Jr. and Eric Trump hold shares, benefiting from the company's public listing.
- WSJ data reporter Inti Pacheco found 1,135 U.S. billionaires in the previous year, with $5.7 trillion in collective wealth.
- Many fortunes were built in finance or banking, with a significant portion inherited by families like the Waltons and Kochs.
- The typical U.S. billionaire is an older male; hundreds have not publicly donated in the past decade despite pledges.