Bond markets resume sell-off after strong US data
Treasury yields rise further on news that economy grew faster than previously estimated, although personal consumption expenditures inflation falls
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US oil industry warns diesel prices will not return to normal for a year
Dallas Fed survey finds energy executives believe high cost of fuel will persist
Don’t own bonds and be cautious with stocks
Balance sheets have become unbalanced and growth in turn may suffer the consequences
Fed’s preferred gauge showed core inflation at 3.0% in August, much lighter than expected
The personal consumption expenditures price index was projected to show an annual gain of 3.7% on headline and 3.3% for core, according to the Dow Jones consensus.
SEC proposes performance fees for retail funds in private markets push
US securities regulator seeks to widen access to alternative assets and overhaul fund fee rules
AI voice start-up ElevenLabs doubles valuation to $22bn
Existing investors and employees at speech-generation software company sell $300mn worth of stock