Writing the summary…
10-year Treasury yield turns higher as traders look past inflation data, await jobs report
Source: CNBC
Original reporting
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CNBC
DOJ accuses Minnesota federal judges of misconduct for NY Times immigration interviews
The Department of Justice seeks the recusal of the judges who spoke to The New York Times from any cases involving the Department of Homeland Security.
CNBC
Crude oil exports through the Strait of Hormuz hit prewar levels, but fuel shipments remain constrained
It is unclear how long the recovery can be sustained given that it relies on U.S. military protecting tankers in the Persian Gulf.
The Guardian
Federal Reserve watchdog finds no criminal violations for building renovation cost overruns
Trump criticized $2.4bn rehab amid attempts to pressure then Fed chair Jerome Powell into lowering interest rates The Federal Reserve ’s internal watchdog said on Wednesday that the agency has broadly mismanaged an expansive building renovation project but did not find any criminal violations, as alleged by Trump administration prosecutors. The Fed’s inspector general said that a variety of missteps by its board of governors inflated the cost of the $2.4bn renovation. The board did not secure a comprehensive cost estimate at the beginning of the project, nor did it nail down a maximum overall cost, a step that could have forced the building contractor to absorb the impact of inflation, the IG said in a 120-page report. Prices spiked after construction began in 2022. Continue reading...
CNBC
Senate Democrats sink 'toothless' stock trading ban, data center bill in last act before election recess
Two separate proposals to ban member stock trading while in office and address data center-related utility costs failed Wednesday amid Democratic opposition.
CNBC
Trump's latest global tariffs face trade court challenge
The Trump administration says the tariffs respond to countries failing to effectively ban the trade of goods produced using forced labor practices.
CNBC
Kalshi traders see high odds Anthropic's IPO is announced this year
The higher odds come after the artificial intelligence company reportedly warned investors in its IPO prospectus that its models could be dangerous.