iSAM Expands UK Presence with Move to New London Headquarters

Stocks rose to record highs after the US July CPI print came in at 0.2% MoM, consolidating the view that the Fed will have room to cut interest rates. The OIS market is currently pricing in a 94% chance of a 25-bps cut in the upcoming September meeting.

Overall market optimism grew after US President Trump extended tariffs on Chinese goods for another 90 days. Asian stocks gained 0.4%, and equity-index futures in Europe rose 0.3%. Volatility in the precious metals market continues on the tariff news.

US and Russia have agreed to a meeting between Trump and Putin next Friday to discuss a deal to halt the war in Ukraine. Putin is demanding that Ukraine cede its eastern Donbas region and Crimea to Russia;