Inflation cooled as expected, lowering the temperature around the Fed's next move. The U.S. government just sold 10-year debt at its highest auction yield in nearly two decades, underscoring the rising cost of borrowing. Plus new GDP figures challenge the idea that the UK remains stuck in a low-growth rut.

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Today's recommended read: AI creeps onto Fed radar, but footprint is small so far by Mike Dolan ⁠⁠⁠⁠⁠

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