500 for the first time since 2013.
Japan's Nikkei inched up 0.1 percent, and away from seven-month lows. E-Mini futures for the S&P 500 lost 0.13 percent. Ten-year yields dropped further below three-month rates, an inversion that has reliably predicted recessions in the past. Futures moved to price in a 100 percent probability of an Fed easing in September and a near 30 percent chance of a half-point cut. Some 75 basis points of easing is implied by January, with rates ultimately reaching 1 percent.
The Bank of Japan would be under particular pressure as its yen has gained sharply from the flood to safe havens, leaving it at 106.10 per dollar from 109.30 just a week ago.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: