* Why did so many economists miss the “big disinflation”?
* Japan’s economic growth roars back in Q2 as exports surge
* China announces surprise interest rate cut amid struggling economy
* China halts publishing youth jobless rate data after it hits record high of 20%
* Wall Street sees low-priced commercial real estate as investment opportunity
* Fitch says it may downgrade dozens of banks, including JPMorgan Chase
* Russia’s central bank lifts interest rates sharply to combat sliding ruble
* 10-year US Treasury yield ticks up to 4.19%, highest since late-2022:

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Most of the world’s markets are still posting sizable gains year to date, but the recent selling has claimed another victim for the loss column. As of Friday’s close, three of the 14 slices of the major asset classes are now underwater this year, based on ETF proxies through through Friday, Aug. 11. Two weeks ago, all the major asset classes were enjoying gains in 2023.

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* China’s economic slowdown will affect big US firms operating there
* China’s property woes deepen as property developer suspends trading of bonds
* China vows ‘forceful’ response to Taiwan VP’s US visit
* Smaller nations are being left behind in new world economic order
* US consumer sentiment mostly unchanged in August, near historical average
* “A default cycle has started,” says Torsten Slok, chief economist at Apollo
* Russian ruble falls to 17-month low vs. the US dollar
* Large-cap growth stocks (VUG) are crushing value shares (VTV) this year:

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● MoneyZen: The Secret to Finding Your “Enough”
Manisha Thakor
Q&A with author via CNBC
Q: What is the “never enough” mindset?
A: I define the “never enough” mindset as a feeling that no matter how many accomplishments you achieve or how much praise you receive, it just feels like it’s never enough. And you feel almost compelled in a subliminal, toxic way to keep chasing after these things. No matter how many of them you receive, it just doesn’t seem to quench the need.

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The 10-year Treasury yield continues to trade at a level well above CapitalSpectator.com’s fair-value estimate, but the gap suggests that further increases in the benchmark rate are facing stronger headwinds.

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* Biden says China’s economic woes are a “ticking time bomb”
* One of China’s largest property developers warns of a hefty loss
* Britain’s economy grew more than expected in Q2
* Record hot ocean temps could turbocharge hurricanes, NOAA scientists warn
* US jobless claims rise to 5-week high but not enough to raise concern
* US headline consumer inflation picks up as core CPI holds steady in July:

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The global rise in interest rates may be peaking, a view that’s helped lift most corners of foreign bond markets year to date, based on a set of ETFs through yesterday’s close (Aug. 9).

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* Biden issues executive order to steer some US investments away from China
* China rebukes Biden’s executive order that limits US investment in technology
* Downturn in world trade fuels concern of increasingly fractured global economy
* Central banks need to keep rates at roughly 5%, veteran economist predicts
* Average US mortgage rate rises to 7.02% — highest in almost 21 years
* Five bearish arguments that, so far, “haven’t worked”
* US Q3 GDP nowcast revised up to strong 4.1% via Atlanta Fed’s GDPNow model:

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The recent rally in risk assets has confounded some analysts, but right or wrong the revival in animal spirits still has momentum, based on several proxies of market behavior via ETF pairs through yesterday’s close (Aug. 8).

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* US set to ban some private-equity and venture-capital investments in China
* Moody’s says it may cut credit ratings for six big US banks
* Economists expect another month of slowing inflation in July
* S&P will end ranking companies’ environmental, social and governance risks
* US trade deficit narrows in June via pullback in imports
* China consumer inflation turns negative in July for first time since 2020:

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