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U.S. Defense Secretary Hergsays: Reports about the situation on the USS Abraham Lincoln are misinformation.

U.S. Defense Secretary Hergsays: The United States can maintain the blockade against Iran for as long as necessary.

The Stoxx Europe 600 index has turned negative, currently down 0.03%.

According to US financial media Semafor: An advisor to the British Prime Minister called AstraZeneca regarding the merger between AstraZeneca and Bristol-Myers Squibb.

[Fitch: US Private Credit Default Rate Rises to Record High in July] A Fitch Ratings report states that the default rate for the 1,300 US private credit borrowers it tracks rose to a record high in July. Fitch has been tracking this data since August 2024. On a 12-month rolling basis, the default rate for this borrower group rose to 6.1% in July, up from 6% in June. For the 300 issuers for which Fitch provides private credit ratings to insurance companies, the default rate fell to 8.6% in July from 9.4% in June. Of the aforementioned 1,300 private credit borrowers, Fitch recorded three private credit default events in July, involving one newly defaulted borrower and two repeat defaulters. In the 12 months ending July 2026, 83 borrowers defaulted, triggering a total of 105 default events.

Fitch: U.S. private credit default rate rose to a record high in July.

According to Dutch media outlet BNR, a Russian hacking group claims to have compromised Shell and Philips. Philips confirmed it suffered a cyberattack, but no customers were affected. A Shell spokesperson confirmed the incident is under investigation.

Federal Reserve Bank of Barkin: Many AI applications do not yet appear mature enough to warrant large-scale layoffs.

Federal Reserve Bank of Barkin: The net impact of AI on the number of jobs is not the biggest problem; what is more concerning is the potential reallocation of employment among different jobs that AI may bring.

Federal Reserve Bank of Barkin: Businesses that sell to corporate clients are confident in their pricing power; while businesses that sell to consumers are less certain about whether they can pass on rising costs to consumers.

Federal Reserve Bank of Barkin: The Federal Reserve is not currently at a stage where it is appropriate to provide "forward guidance".

Federal Reserve Bank of Barkin: I am indeed worried about how long low-income consumer spending can be sustained.

Federal Reserve Bank of Barkin: I do believe that helping people understand the reaction mechanism helps the market function, but I also think that overly cautious guidance can lead to constraints.

Federal Reserve Bank of Barkin: Businesses generally dislike layoffs and prefer to avoid them, even when they are cautious about hiring.

Federal Reserve's Barkin: If overall inflation continues to slow, it will help keep expectations stable.

Federal Reserve Bank of Barkin: I am torn between two views – on the one hand, inflation has exceeded the target level for more than five years; on the other hand, inflation has surged in two different phases and is now slowing down.

Federal Reserve's Barkin: I don't believe the labor market is as strong as the data suggests.

Federal Reserve's Barkin: Too much forward guidance limits the Fed's flexibility.

Federal Reserve's Barkin: If the market understands the Fed's thinking, it will help with policy implementation.

Federal Reserve's Barkin: It's difficult to determine whether interest rates are restrictive.