Apple to Unveil First Foldable iPhone Today; Shares Historically Drop During New Product Announcements

Apple shares declined 1.5% after unveiling its first foldable iPhone Duo, alongside the iPhone 18 Pro and iPhone 18 Pro Max.

MetaMask, the popular cryptocurrency wallet, is preparing for an initial public offering. ConsenSys, the blockchain software company behind Ethereum and MetaMask, has spun off MetaMask into a standalone entity under the same brand name.

Former President Trump forecasts an immediate resolution to the Iranian conflict following the midterm elections.

Former President Trump suggests U.S. gasoline prices will take some additional time to decrease.

After the PPI data was released, markets increased their expectations for a Federal Reserve interest rate hike next week.

Kalshi launches gold and silver futures following CFTC approval.

ESMA issues warning over unlicensed prediction markets in Europe

The European Securities and Markets Authority (ESMA) has issued a prior warning that leading prediction markets, including Polymarket and Kalshi, are operating without the required licenses to serve EU users.

Germany to impose 25% tax on cryptocurrency profits from 2027, ending the current one-year tax exemption period.

Russian Finance Ministry successfully auctions OFZ 26218 bonds worth 51.49 billion rubles amid robust demand totaling 91.82 billion rubles; the bonds carry an average yield of 15.45% annually.

Iran to Permanently Ban Vessel Transit in Eastern Strait of Hormuz

Iran has announced a permanent ban on vessel passage to the east of the Strait of Hormuz, expanding the restricted zone into the Gulf of Oman and the Arabian Sea. The new designated area includes the port city of Chabahar. Tehran's move, communicated by the Islamic Revolutionary Guard Corps (IRGC), aims to enforce Iran's maritime boundaries by prohibiting maritime traffic through these waters.

Serbian President Aleksandar Vučić has dissolved the parliament, clearing the path for possible early elections.

Bond yields continue upward, warns Dorfman. Bond King Jeffrey Gundlach of DoubleLine warns that U.S. Treasury yields will persist in climbing, recommending investors avoid 30-year bonds globally. He pointed to a disconnect between the yield on two-year U.S. Treasuries and the Federal Reserve’s policy rate and suggested the Fed should raise its key rate by 50 basis points.

China's consumer price index increased 0.4% month-on-month in August, surpassing the 0.3% median estimate and reversing a 0.1% decline in July. Year-on-year, CPI rose 0.8%, matching forecasts and up from 0.5% in July. Producer inflation, measured by the producer price index, climbed 3.8% year-on-year, exceeding expectations of a 3.6% increase and up from 3.5% the previous month. Inflation in China picked up in August.

Iran is quietly relaxing currency restrictions and increasingly utilizing cryptocurrencies such as USDT and BTC to facilitate trade under ongoing U.S. sanctions and blockades, according to the Financial Times.

A modest outflow was observed in spot Bitcoin ETFs after yesterday’s trading session. Despite this, the month-to-date inflow is among the largest of the year, according to data from SoSoValue.

The U.S. national debt has exceeded 100% of gross domestic product for the first time since World War II, according to recent figures. Meanwhile, government bond yields are climbing, further increasing the cost of debt servicing.

U.S. Treasury officials are considering raising the capacity for 30-year bond buybacks to $10 billion per operation from the current $4 billion, according to analysts. Treasurer Janet Yellen’s department is set to announce revised buyback parameters today, covering not only 30-year bonds but also 10-year and 20-year maturities. The Treasury has previously signaled that buyback volumes for long-term bonds could be expanded if necessary. Market participants emphasize the significance of preserving stability amid upcoming U.S. midterm elections. Source.

Government bond yields across the G7 countries are trending higher, with the average borrowing costs reaching levels not seen since the global financial crisis, according to the Financial Times.

The internal strength of the S&P 500 has declined sharply over the past two weeks, with just 42% of stocks trading above their 50-day moving average—its lowest level in five months. Historically, U.S. equities tend to weaken in August, reaching a low in mid-September before entering a robust fourth quarter, according to Bank of America. Despite these seasonal patterns, the index remains at record highs amid consolidation. Recently, former President Donald Trump predicted a rise in stocks, and analysts expect an election cycle boost.

The U.S. Dollar Index (DXY) remains range-bound at a 14-year support level, indicating possible upcoming market shifts. Historically, a rising dollar has been associated with declines in risk assets such as equities and cryptocurrencies, whereas a weakening dollar typically supports gains in these sectors.