Treasury yields plunged across most of the curve as cooler-than-expected inflation data prompted traders to pare their bets on the amount of tightening that the Federal Reserve is likely to do.

Rates on shorter-dated Treasury notes led the move, with the two-year benchmark at one stage plummeting nearly 20 basis points to 3.07%. Swaps showed the amount of tightening priced for the Fed’s Sept. 21 decision tumbling to around 59 basis points, suggesting a move of 50 basis points is seen as more likely than a repeat of the 75-basis-point increases that officials have opted to implement at their past two meetings. Markets also showed traders now expect the fed benchmark to peak somewhere around 3.5% in the first part of 2023.

President Joe Biden signed into law a bill expanding health care for veterans exposed to toxic burn pits, one of a series of breakthroughs in Congress this summer.

“This is the most significant law our nation has ever had passed to help millions of veterans who are exposed to toxic substances,” Biden said at a signing ceremony in the East Room of the White House on Wednesday, where he was joined by veterans, their families, and congressional lawmakers.

At the height of NFT mania, everyone from athletes like Tom Brady to celebs like Justin Beiber seemed to be buying (or talking about) collections like Bored Ape Yacht Club. Nonfungible tokens aren’t just pictures of monkeys, though — they exist on the blockchain, and buying or selling them typically requires paying in some kind of cryptocurrency, often Ether. While the link between NFT prices and the those of tokens such as Ether or Solana is not always straightforward, it’s true that nonfungible tokens haven’t been entirely spared from the chill of the crypto winter. For more on NFTs, and how and whether they’re holding up these days, Bloomberg reporter Prarthana Prakash joins this episode.

Omny Studio: The NFT Hype - Bloomberg Crypto

President Joe Biden said there are signs inflation is beginning to moderate after it slowed more than expected in July, giving him a much-needed boost ahead of the November midterm elections.

“We’re seeing a stronger labor market where jobs are booming and Americans are working and we’re seeing some signs that inflation may be beginning to moderate,” Biden said Wednesday before signing a veterans health-care bill, calling the numbers evidence his “economic plan is working.”

It’s trendy for employers to offer unlimited paid time off, and for good reason: To workers, it seems like a dream. Roughly 1 in 10 companies has adopted such plans, and they’re motivated by four primary benefits, none of which directly relate to employee leave.

All these benefits can blind an organization to the problems of unlimited PTO. The policy doesn’t work with hourly employees (unlimited unpaid time off can), and it can breed inequity and inconsistency, because it depends on manager approval. And, critically, a simple unlimited PTO policy doesn’t fix the problem of burnout among employees who don’t take enough time away from the office. With unlimited PTO, the always-on mentality can slip in, manifesting in people answering emails even while attempting to take time away from work, because they’re worried that a colleague who’s in the office—not lounging on the beach—might get an edge on a promotion.

Since social media influencer Kyla Scanlon coined the term “vibecession,” she has experienced all sorts of feedback from TikTok users and economists alike. I sat down with her to chat about algorithms, markets and more on

The German lender has hired a senior corporate originator in South Africa -- someone who sources clients and deal opportunities -- and intends to further add to the team, country head Saloshni Pillay said in an interview. The focus is to build a deals hub for Africa as a whole, she said.

Europe’s natural gas stockbuild is running about nine weeks ahead of last year, reducing the leverage available to Russian President Vladimir Putin through his country’s exports to the region.

“EU gas inventories are still building relatively strongly, despite Russia cutting flows through the Nord Stream pipeline to just 20% of capacity,” Standard Chartered analysts including Emily Ashford and Paul Horsnell said in a note dated Aug. 9.

For many women, the work-from-home revolution has felt, for the first time, as if they might just be able to reach that mythical place of having it all. Women love the reduced or nonexistent commuting times; they love spending less time on their physical appearance and less money on their wardrobe. Hard-charging

Cargill disclosed the financial numbers Wednesday in its annual report. With commodity prices trading at year highs following Russia’s invasion of Ukraine, global companies that buy and sell grains were well positioned to profit from supply-chain disruptions.  The results follows strong reports from both ADM and Bunge.

The preliminary discussions are expected to focus on the secured portion of the financing ahead of official sales, or syndications, that could launch right after the US Labor Day holiday in early September, according to people with knowledge of the matter who asked not to be identified when discussing a private transaction.

New York City’s Metropolitan Transportation Authority is one step closer to rolling out a congestion pricing plan that would charge some motorists as much as $23 to enter Manhattan’s central business district. 

The tolling scenarios for the plan, a first for a US city, were outlined in an Environmental Assessment

Current “undesirably high inflation” follows a long battle against deflationary trends in the 19-member euro zone, with the transition from record-low interest rates needing to be “gradual,” authors Ursel Baumann, Christophe Kamps and Manfred Kremer said. 

Sovereign defaults by both Zambia and Zimbabwe have escalated the Batoka Gorge hydro-electric project cost, with the estimated price climbing 23% to almost $5 billion.

The plan, which is being developed by

California has ended its reign as the US state with the most expensive gasoline, at least for now. That honor now goes to Hawaii, where the average pump price stands at $5.414 a gallon -- less than 2 pennies above California’s, according to data from auto club

The state-run miner’s net income jumped to 88.3 billion rupees ($1.1 billion) from 31.7 billion rupees a year earlier, it said in a statement. Profits beat analyst forecasts as blistering summer heat spurred a frantic hunt for more coal, which accounts for about 70% of India’s electricity generation.

Donald Trump said he’s declining to answer questions by the New York attorney general, invoking his Fifth Amendment right against self-incrimination as he sits for a deposition in her probe into potentially fraudulent asset valuations by his company. 

“Under the advice of my counsel and for all of the above reasons, I declined to answer the questions under the rights and privileges afforded to every citizen under the United States Constitution,” Trump said in an emailed statement released shortly after he arrived at the attorney general’s office in New York City Wednesday morning. “I once asked, ‘If you’re innocent, why are you taking the Fifth Amendment?’ Now I know the answer to that question.”

Economists are divided on whether slower US consumer-price growth for July means the Federal Reserve could ease its aggressive rate-hiking program, making 75 basis-point moves less definite.

The consumer price index increased 8.5% from a year earlier, cooling from the 9.1% June advance that was the largest in four decades, Labor Department data showed Wednesday. Prices were unchanged from the prior month.   

This year’s football world cup may be moved up by a day as FIFA weighs a last-minute change to a tournament Qatar’s spent more than 12 years preparing for. 

FIFA is considering a request from the South American Football Confederation for hosts Qatar to play Ecuador a day earlier than previously planned, according to a person familiar with the matter. The FIFA Council, led by Gianni Infantino, may make a ruling as soon as this week, the person said. 

A Russian journalist who staged an anti-war protest on the country’s main TV news channel said police raided her home in Moscow as part of a new probe against her.

Marina Ovsyannikova said 10 police and officers from the Investigative Committee, Russia’s equivalent of the FBI, searched her apartment early Wednesday and took her away for questioning. A criminal case under Russia’s “fake news” law was opened over a protest she staged near the Kremlin last month that criticized President Vladimir Putin for civilian deaths in his war in Ukraine, she said in a Telegram post.

Britons are booking winter vacations at a faster pace than before the coronavirus crisis, though climbing household bills and a looming recession could shake up destination choices, according to the world’s biggest tour operator.

Los Angeles (AP) -- Kobe Bryant was one of the most photogenic sports figures in Los Angeles and images of him seen by millions around the world — smiling in victory, grimacing in agony — keep his memory alive.

But some photos of him should never be seen, his widow says, and she's seeking unspecified millions in compensation for snapshots taken of the NBA star’s corpse that were circulated after he was killed in a helicopter crash with their daughter and seven others in 2020.