The increase in US consumer prices in August was lower than expected, ending the momentum of continuous sharp increases, indicating that some upward pressure on inflation has begun to weaken. According to data released by the US Department of Labor on Tuesday, the consumer price index increased by 0.3% month-on-month in August, the smallest increase in seven months. Compared with the same period last year, the CPI rose by 5.3% in August. Excluding the volatile food and energy components, the so-called core inflation rose 0.1% month-on-month, the smallest increase since February, reflecting the decline in the prices of second-hand cars, airplane fares, and auto insurance. Core CPI rose 4% year-on-year.

On Tuesday, Apple released the iPhone 13 series, which is similar in design to last year's models and focuses on camera and processor upgrades. Apple launched the iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max at the California Streaming conference. The appearance is similar to the iPhone 12, but the display has a smaller “bangs”, the chip speed is faster and the camera system is upgraded. The screen size is still 5.4 inches, 6.1 inches and 6.7 inches, but the display brightness of the iPhone 13 Pro and Pro Max has been increased by 20%, and is equipped with a dynamic refresh rate system ProMotion, which can increase the frame rate and make the sliding screen feel smoother and smoother. Can provide a better gaming experience.

Bond strategists and investors are increasingly feeling that the best performance of TIPS since 2009 relative to other bonds may be at risk. Institutions such as UBS AG and Aberdeen Asset Management stated that the Fed's monthly purchase of $120 billion in bonds has resulted in a disproportionately large benefit to the TIPS market with relatively sparse trading volume, with yields significantly lower than zero. At the same time, investors have also invested unprecedented amounts of money to buy such bonds, hoping to hedge against the risk of soaring inflation.

Senate Republican Leader Mitch McConnell said that Republicans are united against raising the debt ceiling. McConnell said that this year is unique. He “has never seen such an effort to expand the influence of the federal government”. “If they want to do all of this on a partisan basis, they must have the ability and responsibility to ensure that the federal government does not default,” McConnell said in a press conference.

The scale of global debt rose sharply in the second quarter, as households took advantage of low mortgage interest rates to borrow from banks, and the government continued to issue large amounts of debt to revive the economy hit hard by the COVID-19 pandemic. According to a report from the Institute of International Finance (IIF), the global outstanding debt balance increased by approximately US$4.8 trillion in the second quarter, reaching a record high of US$296 trillion.

The International Energy Agency (IEA) stated that the output loss caused by Hurricane Ida offset the impact of OPEC+ production increase, and the world needs to wait until October to get additional oil supplies. The IEA said in its monthly report that as the Organization of Petroleum Exporting Countries (OPEC) and its allies continue to restore idle production capacity, the world should have seen a "solid increase" in production, but due to unexpected interruptions, global supply decreased by 540,000 in August. Barrels/day, this month will be flat. "Unplanned production interruptions have suspended the upward trend in world oil supply since March, but will resume in October," IEA said.

Risk Warning: The above content is for reference only, and does not represent JRFX’s position. JRFX does not assume any form of loss caused by any trading carried out in accordance with this article. Please consult your financial planner for your investment portfolios and manage your own risk.

JRFX is an online CFD broker providing more than 50 products for Forex, metals and commodities. Open a trading account within a minute. Deposit 100USD and download our MT4 trading platform now!