News

The U.S. Treasury Department reports that the budget deficit for fiscal year 2026 is $1.799 trillion year-to-date, compared to $1.629 trillion in the same period of fiscal year 2025.

The U.S. Treasury Department reported that the July budget deficit was the largest since March 2021 and set a new record for the largest monthly budget deficit in July.

The U.S. Treasury Department reported a budget deficit of $432 billion in July (compared to market expectations of $346 billion), compared to a deficit of $291 billion in July of last year.

U.S. Treasury Department: Government spending in July reached $766 billion, a record high for July and higher than the $630 billion in July last year. Government revenue in July was $334 billion, lower than the $338 billion in July last year.

U.S. Treasury Department: July Customs net revenue was -$8.55 billion, total revenue was $24.84 billion, and tax refunds were $33.38 billion.

The US government budget in July was -$432 billion, compared to an expected -$346 billion and a previous -$120 billion.

According to the Globe and Mail, while seeking a tariff exemption from the United States, Canada is weighing a proposal regarding auto tariffs. This proposal would maintain exemptions for the value of U.S.-made auto parts exported from Canada.

According to the Wall Street Journal, Ukrainian drones defeated U.S. armored forces during military exercises in Germany this spring.

The Federal Reserve accepted a total of $725 million from one counterparty in its fixed-rate reverse repurchase operations.

The Security Service of Ukraine: Ukrainian forces struck three warships and other facilities in an attack on the Russian port of Novorossiysk.

The yield on 10-year U.S. Treasury bonds was largely unchanged after the auction; the yield on 10-year Treasury bonds fell 1 basis point to 4.67%.

The yield on 10-year U.S. Treasury bonds hit a new high since 2007.

The percentage of the winning bid for the 10-year U.S. Treasury bond auction on August 12 was 65.27%, compared to 40.29% previously.

The bid-to-cover ratio for the 10-year U.S. Treasury bond auction on August 12 was 2.53, compared to 2.59 previously.

The winning yield on the US 10-year Treasury auction on August 12 was 4.683%, compared to 4.58% previously.

Apple (AAPL.O) has appointed Nate Gatten, former head of government affairs at American Airlines, as vice president of government affairs, responsible for global government affairs. He will officially assume the role on August 31. Gatten served as head of government affairs at American Airlines from 2017 to this year and previously worked on government relations at JPMorgan Chase. Sources say Apple wanted to appoint someone capable of maintaining good communication with the Trump administration to address policy challenges such as tariffs. In recent years, Apple CEO Tim Cook has devoted more time to managing relations with the White House. This change is part of recent high-level personnel changes at Apple, with Cook scheduled to step down as CEO on September 1, to be succeeded by hardware head John Tenus, who will remain executive chairman.

The U.S. International Trade Commission (USITC) announced on August 12 that it has initiated a Section 337 investigation into certain mobile electronic devices, targeting Samsung Electronics Inc. and Samsung Electronics USA Inc. This investigation stems from a complaint filed in July by Kyoto Maxell Ltd. of Japan. Maxell alleges that certain mobile electronic devices infringe its patents during importation and sale in the United States, potentially violating Section 337 of the U.S. Tariff Act of 1930, and has requested the USITC to issue a limited exclusion order and a cease and desist order. The USITC emphasized that initiating an investigation does not constitute a final determination. The case will proceed to trial, where an administrative law judge will investigate, gather evidence, and hold hearings before making a preliminary determination on whether any violations have occurred. The USITC will determine a trial schedule within 45 days of the investigation's initiation and will make a final determination based on the investigation results.

The auction of 10-year U.S. Treasury bonds on August 12th - the winning rate and bid-to-cover ratio will be announced in ten minutes.

According to TASS, the Russian Ministry of Agriculture stated that Russia is working to divert freight traffic to other routes. These routes include ports along the Baltic and Caspian coasts, ports in the Far East, and land routes.

Apple (AAPL.O) has appointed a senior executive from American Airlines as its head of government affairs.