SEC Commissioner Hester Peirce will leave the agency in November to teach law at Regent University School of Law, following a tenure that began in 2018. Peirce became one of the SEC's leading voices on digital assets, frequently opposing what she viewed as an enforcement-heavy approach to crypto regulation. Before her departure, she hopes to advance crypto-related reforms, including innovation exemptions for tokenized securities, while helping build digital asset expertise within the agency.

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US Treasuries rallied as investors grew more optimistic that progress in US-Iran negotiations could help ease energy prices and reduce inflation pressures. The shift pushed yields lower across maturities, with the 10-year falling to about 4.57% and the 30-year to around 5.11%. The move followed comments from President Donald Trump suggesting talks were nearing a final stage, though uncertainty remains as Iran reviews the latest proposal. Despite the rebound, yields are still close to recent highs, reflecting lingering inflation concerns and expectations that the Federal Reserve may continue tightening policy later this year.

JPMorgan Chase CEO Jamie Dimon has warned that interest rates could rise significantly from current levels, citing concerns over inflation, government spending and the ongoing Middle East conflict. Dimon's comments come as yields on 30-year Treasurys have reached levels last seen in 2007, reflecting investor apprehension. "Rates can easily go up more, and credit spreads can go up more," Dimon says. "At one point you are going to have lots of people having to refinance at higher rates."

High-yield debt is outperforming other fixed-income assets this year, with credit spreads at near two-decade lows. Bloomberg indexes show speculative-grade debt has outperformed investment-grade bonds by 1.6 percentage points this year, and Bloomberg data shows US high-yield market fundraising has surged 40% from a year ago. However, investors are concerned this could lead to complacency, especially as risks such as rising interest rates and potential stagflation loom.

The SEC proposed two rulemaking packages aimed at modernizing public company offering and reporting requirements. The proposals would expand shelf offering access, raise the large accelerated filer threshold to $2 billion and ease certain disclosure obligations for newly public and smaller companies. The changes build on the SEC's broader effort to streamline capital formation and encourage public listings while maintaining investor protections.

The House has passed a significant housing measure aimed at increasing the housing supply and homeownership in a 396-13 vote after a provision requiring investors to sell newly built rental homes within seven years was removed. The White House has endorsed the bill, which now returns to the Senate, where further changes are possible. "America is in the middle of a full-blown affordable housing and homelessness crisis, and working families are burdened by skyrocketing rents and a housing market that is pushing homeownership further out of reach," says Rep. Maxine Waters, D-Calif., who helped negotiate changes to the bill.

Federal Reserve officials could look to raise interest rates if inflation remains elevated, according to the minutes of a recent meeting of the Federal Open Market Committee. A majority noted that "some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%," according to the minutes.