Top Overnight News

SpaceX has surged 35% after its first lockup expired, adding about $500 billion in market value. BBG

Prices for Japan’s corporate goods continued to rise at an elevated pace in July, keeping high cost pressure on companies, as central bank officials continue to consider whether to proceed with additional interest rate hikes to contain inflation. BBG

Anthropic investors expect the AI start-up to float at a valuation of $2tn or more in October, a figure that would eclipse SpaceX and make the AI lab’s debut the largest ever initial public offering. FT

Japan’s government supports a near-term BOJ rate hike, probably in September or October, people familiar said. Traders took note, raising the odds of a 25-basis-point move next month to about 75% and briefly lifting the yen. BBG

The US is set to sell $25 billion of 30-year bonds at the highest borrowing cost since 2001. Lofty financing costs are feeding through to the broader economy, adding to pressure on Donald Trump ahead of the midterms.

South Korean retail investors must now complete a week-long course before they can start trading in single-stock funds, as regulators tighten restrictions on products blamed for exacerbating wild swings in one of the world’s most volatile stock markets. FT

Global food supplies come under threat as Russia ramps attacks on Ukraine ports and ships in the Black Sea. RTRS

The UK economy unexpectedly expanded 0.3% in June boosted by sunny weather and World Cup football. Over the whole of the second quarter, it grew 0.4%. BBG

Colombia’s government asked the US to join its fight against drug gangs, authorizing joint military operations against so-called “narco-terrorism,” Pete Hegseth said. BBG

The Mexican government is pushing the U.S. to lower tariffs on North American automobiles as part of conversations over reworking the U.S.-Mexico-Canada Agreement, according to people familiar with the matter. The move is a counterproposal to the Trump administration after its push to require more American-made parts in vehicles. WSJ

US President Trump signed a memorandum authorizing US law enforcement to use cyber tools to target criminal organizations operating in foreign jurisdictions, according to The White House.

The US race to compete with China on lithium runs into water battles, with Trump-backed plans to build production of critical elements undercut by community resistance: FT.

BofA Total Card Spending (w/e Aug 8th) +6.2% Y/Y (prev. 4.7%); the rebound in spending over the past 3 weeks is consistent that the mid-July slump was a blip

Top Overnight News

SpaceX has surged 35% after its first lockup expired, adding about $500 billion in market value. BBG

Prices for Japan’s corporate goods continued to rise at an elevated pace in July, keeping high cost pressure on companies, as central bank officials continue to consider whether to proceed with additional interest rate hikes to contain inflation. BBG

Anthropic investors expect the AI start-up to float at a valuation of $2tn or more in October, a figure that would eclipse SpaceX and make the AI lab’s debut the largest ever initial public offering. FT

Japan’s government supports a near-term BOJ rate hike, probably in September or October, people familiar said. Traders took note, raising the odds of a 25-basis-point move next month to about 75% and briefly lifting the yen. BBG

The US is set to sell $25 billion of 30-year bonds at the highest borrowing cost since 2001. Lofty financing costs are feeding through to the broader economy, adding to pressure on Donald Trump ahead of the midterms.

South Korean retail investors must now complete a week-long course before they can start trading in single-stock funds, as regulators tighten restrictions on products blamed for exacerbating wild swings in one of the world’s most volatile stock markets. FT

Global food supplies come under threat as Russia ramps attacks on Ukraine ports and ships in the Black Sea. RTRS

The UK economy unexpectedly expanded 0.3% in June boosted by sunny weather and World Cup football. Over the whole of the second quarter, it grew 0.4%. BBG

Colombia’s government asked the US to join its fight against drug gangs, authorizing joint military operations against so-called “narco-terrorism,” Pete Hegseth said. BBG

The Mexican government is pushing the U.S. to lower tariffs on North American automobiles as part of conversations over reworking the U.S.-Mexico-Canada Agreement, according to people familiar with the matter. The move is a counterproposal to the Trump administration after its push to require more American-made parts in vehicles. WSJ

US President Trump signed a memorandum authorizing US law enforcement to use cyber tools to target criminal organizations operating in foreign jurisdictions, according to The White House.

The US race to compete with China on lithium runs into water battles, with Trump-backed plans to build production of critical elements undercut by community resistance: FT.

BofA Total Card Spending (w/e Aug 8th) +6.2% Y/Y (prev. 4.7%); the rebound in spending over the past 3 weeks is consistent that the mid-July slump was a blip

Source:https://twitter.com/zerohedge/status/2087868037231689735