Retail sales were up 0.6% in August compared with the prior month, with the gain aided by back-to-school shopping, according to the Commerce Department. Nine of the 13 categories tracked in the report saw gains.

The Senate has confirmed Stephen Miran, a top economic adviser to President Donald Trump, to the Federal Reserve's board in a 48-47 vote. Miran has said he will take unpaid leave from his role as chair of the White House Council of Economic Advisors. The confirmation allows Miran to participate in a Federal Open Market Committee meeting that starts today.

A federal appeals court has ruled that President Donald Trump cannot dismiss Federal Reserve Governor Lisa Cook before the Federal Open Market Committee meeting, allowing her to participate in the two-day event. Trump attempted to fire Cook over alleged mortgage fraud, which she denies, but the court upheld a lower ruling preventing her removal while her lawsuit against Trump proceeds.

Import prices rose 0.3% in August, according to the Bureau of Labor Statistics, after a 0.2% gain in July. Economists surveyed by Reuters had expected a 0.1% decrease in August.

US Treasurys have outperformed other major sovereign bond markets this year, driven by expectations of Federal Reserve interest rate cuts. Treasurys have returned 5.8% in 2025, the highest among the 15 largest debt markets in local currency terms.

The foreign exchange regulator in China has announced measures to streamline rules for cross-border investment, potentially easing the path to property investment. "China's real estate market conditions have changed and macro-control measures for the industry have been refined and adjusted," according to the regulator.

Quantum computing company Oxford Quantum Circuits and Digital Realty have launched a quantum AI data center in New York City, integrating OQC's Genesis quantum computer with Nvidia's Grace Hopper Superchips. "By working with OQC, we're using Nvidia supercomputing to make Quantum-AI directly accessible in one of the world's most important data hubs," said Digital Realty President and CEO Andy Power.

Deal volume in the single-tenant net-lease retail market gained 9.6% in the first half of 2025 compared with a year ago, reaching $5.7 billion, according to Colliers. In addition, the median price increased to $309 per square foot, gaining 8%.

Moody's Analytics Chief Economist Mark Zandi is pointing to potential economic concerns linked to a downturn in residential building permits. Zandi described these permits as the "most critical economic variable" tracked by the firm.