Inflation jumped 5.4 percent in June, the biggest rise since 2008. PERsonal Consumption Expenditures The Fed targets 2 percent inflation on average over time, but it defines that goal using a different inflation index. The yield on 10-year U.S. Treasury notes jumped to 1.38 percent, from 1.34 percent before the inflation data was released. fee revenue for U.S. listings of Chinese companies Chinese companies listing their shares in New York have been hugely lucrative for Wall Street in recent years. (Investment firms could, of course, take Chinese companies public in China, but the shallow investor pool and proximity to the government can make that a less desirable path.)

Source: International New York Times July 13, 2021 08:56 UTC