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• A report from PL Asset Management released on August 3 indicates that India's equity markets remain resilient despite global geopolitical volatility and commodity price swings. • The analysis highlights that low inflation, accommodative monetary policy, and strong government capital expenditure are creating a favorable investment climate. • This stability suggests that India's long-term structural growth story is intact, as much of the current global economic uncertainty has already been priced into the markets.

• Michigan Democrats will hold primary elections on August 4 to select a candidate for a key US Senate seat. • The contest features a clash between progressive former public health official Abdul El-Sayed and centrist representative Haley Stevens, who is backed by party leadership. • The race highlights a strategic divide within the Democratic party between progressive policy goals, such as Medicare for All, and centrist political approaches.

• Newsweek is analyzing 27 critical midterm election races across 19 states to determine which contests will likely decide the balance of power in Congress. • The analysis focuses on a mix of House toss-up seats and high-stakes Senate battles to gauge current political momentum. • This evaluation is significant as it utilizes polling data and market trends to predict shifts in legislative control three months before the election.

• The author critiques Chief Justice John Roberts and the Supreme Court for spending over two decades dismantling democratic safeguards and favoring wealthy interests. • This analysis coincides with the United States' 250th anniversary, using the occasion to question if the nation is upholding its founding promises of rule of law. • The piece argues that while public focus often rests on presidential power and political polarization, the Court's "countermajoritarian project" requires more critical scrutiny.

• Global economic indicators show a mixed landscape, with negative PMIs reported in China, positive data from Korea, and rising growth in Canada. • US economic data has cooled, but bond markets are signaling concern as the US 10-year Treasury yield reaches 4.75%. • Market fluctuations are evident across commodities and currencies, with gold prices dipping and the New Zealand dollar trading at 58.9 US cents.

The president’s minions have trawled the statutes to restore roadblocks to trade. The invocation of Smoot-Hawley looks especially dangerousDonald Trump may have found the killer weapon to punish countries at will: by imposing tariffs on their exports to the United States.The president has been looking for a new tool since February, when the supreme court struck down tariffs he slapped on virtually all of America’s trading partners based on the International Economic Emergency Powers Act, or IEEPA, on the spurious grounds that the US faced a variety of national emergencies. It’s become a parlor game among policy wonks to predict what new legal justification he would deploy to replace them.Eduardo Porter is a journalist focused on economics and politics. He writes the newsletter Being There on Substack Continue reading...

• Rohit Sarin of Client Associates has updated his market outlook, upgrading his stance on mid-cap stocks to "overweight" and small-caps to "neutral." • The assessment favors sectors aligned with India's domestic growth story, specifically highlighting banking and financial services as key areas for potential earnings growth. • These sectors are expected to perform well due to resilient asset quality, improving credit growth, and strong domestic inflows.