Federal Reserve Chairman Jerome Powell testified in Congress yesterday that a rate cut may be near. That’s music to the ears of the bond market because it offers more fuel for extending the rally in fixed-income assets.

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Iranian boats attempt to intercept British tanker: BBC
Flood risk rises for millions as Gulf of Mexico storm threatens: CNN
Oil rises to 6-week high on Iran tensions, Gulf of Mexico storm: Reuters
Fed’s Powell tells Congress that central bank is ready to cut rates: WSJ
Former US ambassador to China: tariffs on China are ‘new normal’: CNBC
Business inflation expectations dip to 1.9%, matching a 2yr low: Atlanta Fed
US gov’t set to arrest and deport thousands of illegal immigrants: NY Times
Fed minutes support case for rate cut: Bloomberg
US core inflation’s 1yr trend for June on track to ease in today’s update: