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U.S. major indexes closed lower yesterday. Walmart’s weaker-than-expected same-store sales and guidance weighed on the consumer sector and dragged the three major averages lower. Silver and platinum rose sharply, supported by lower yields from expanded long-bond buybacks and a softer dollar. Bitcoin climbed toward $75,000, lifting crypto-related equities. Markets are now focused on the August S&P Global Manufacturing and Services PMI flash readings due on August 21 U.S. Eastern Time, which will directly influence September rate-path pricing.
Ahead of the Bank of Korea's Monetary Policy Committee meeting in August, the outlook for the base rate is divided, with 11 predicting no change and 10 predicting an increase. Following the rate hike in July, the key issue for the meeting on the 27th will be whether to implement two consecutive incr...