Treasury Secretary Scott Bessent described the US-China trade truce as "working pretty well," highlighting improved dialogue and resumed rare earth magnet shipments from China. He noted that recent talks have been productive and that both sides have refrained from escalating tariffs ahead of the truce's November expiration.

President Donald Trump has disclosed purchases of at least $103.7 million in bonds since his inauguration, including debt from Qualcomm, Home Depot, T-Mobile and Meta. Unlike past presidents, Trump has not placed his assets in a blind trust, raising renewed questions over potential conflicts of interest.

Investors are raising concerns about a period of "fiscal dominance," in which central banks are pressured to keep interest rates low to manage soaring government debt. The trend is most evident in the US, where President Donald Trump has urged the Federal Reserve to cut rates, but governments in the UK and Japan are also putting pressure on their central banks.

Traders are increasingly positioning for a half-point rate cut by the Federal Reserve at its September meeting. The most notable position, at roughly $10 million, could yield $100 million if the Fed delivers a 50 basis-point reduction. "As the market readies for Powell's speech at Jackson Hole, we'll argue that the biggest risk for Treasuries is if the Fed Chief chooses to throw cold water on the widely anticipated September rate cut," Ian Lyngen, head of US rates strategy at BMO Capital Markets, said.

Major financial industry groups have sent a joint letter asking the Basel Committee on Banking Supervision to pause and reconsider upcoming rules governing banks' cryptocurrency activities. The industry groups argue that the rules are overly stringent given the increased mainstream adoption of cryptocurrency. The rules are set to take effect in 2026.

The S&P 500 has historically shown gains around the time of the Federal Reserve's Jackson Hole conference, averaging a 0.9% increase in the five trading days before and after the Fed chair's speech since 2010, according to DataTrek Research. Most of these gains tend to occur after the speech, suggesting that market clarity from the event supports equity valuations.

A Stanford Digital Economy Lab study suggests that one in four roles at the Federal Reserve could benefit from generative AI, particularly in data management, financial analysis and information security. The researchers estimate that more than $1.7 billion worth of annual work in the Fed's core areas could be made more efficient, with GenAI offering tools to automate tasks, analyze risk signals, and support decision-making through advanced data processing.

A brilliant fireball streaked across the night sky over western Japan just after 11pm, captivating residents and stargazers across a wide area. The luminous event, visible for hundreds of miles, generated online buzz with videos and photos capturing the spectacle. Experts confirmed the phenomenon as a large meteor that likely entered the atmosphere and moved out over the Pacific Ocean.