Cava's Lone Bear Analyst Flags Weak Foot Traffic After Stock's 123% Surge

Rate-Hike Odds Remain Low As US Producer Prices Print Cooler Than Expected In July Following yesterday's cooling (in-line) consumer price inflation data (driven in large part by energy deflation), US producer prices were expected to rebound modestly in July from a 0.3% MoM decline (headline) in June. Instead, headline Producer Prices were unchanged MoM (cooler than expected), pushing the annual change down from +5.5% to +4.7% YoY... Source: Bloomberg Core PPI (Ex Food and Energy) also printed cooler than expected (+0.2% MoM vs +0.3% MoM), dragging Core PPI YoY down to +4.2%... Final demand...

Bank Of Japan Confirms Yen Intervention, Fed Conducted 'Rate Check' Update (1645ET): Nikkei reports that market participants learned that the Japanese government and the Bank of Japan intervened in the foreign exchange market by buying yen and selling dollars. Additionally, Nikkei confirmed that the US monetary authorities conducted a "rate check," a preliminary step before intervention. This indicates that Japan and the US worked together to curb the yen's depreciation. *  *  * Having collapsed to its weakest relative to the dollar in 40 years, it appears the Ministry of Finance and Bank of...

US Believed Israel Tried To Assassinate Iran's Top Negotiators As Ghalibaf's Plane Made Emergency Landing The New York Times has issued a new report citing unnamed US officials who believe that Israel came close to assassinating Iran's top negotiators Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi. According to the report, a concrete Israeli threat against Ghalibaf and the FM emerged while they were traveling back to Iran from Islamabad following talks with US Vice President JD Vance on April 12. Source: Mehr news Prior to that point, during active fighting, Israel had...