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          Why the US is buying Japan's currency...
         </td>
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                    August 04, 2026
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                     View Online
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                     Presented By
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                     <strong style="color:#000;font-weight:bold">
                      What’s cookin’?
                     </strong>
                     Today is National Chocolate Chip Cookie Day, or, as Cookie Monster calls it, Tuesday. To celebrate, a slew of businesses are rolling out
                     <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                      deals
                     </a>
                     to help you save a little dough on the crispy, chewy, or cakey cookie of your choice. But if you are planning to partake, please try not to do so in front of any not-so-famous Amoses. For them, today is hell.
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     —
                     <em>
                      Sam Klebanov, Molly Liebergall, Dave Lozo, Matty Merritt, Neal Freyman, Abby Rubenstein
                     </em>
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                      In today’s newsletter,
                     </strong>
                     we’ll get into:
                    </p>
                    <ul style="color:#333;margin-top:0;padding-left:30px">
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      Why the US is propping up the Japanese yen
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      The rumored Big Pharma merger baffling investors
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      Gen Z bringing their parents to work
                     </li>
                    </ul>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Markets
                        </p>
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                      </tr>
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                       <td class="pad5m">
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                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU4MzUzMTkuMzUxMzExN30:1wrBLT:L8CLg5QRW6eX9pyF3Jew9r_1HgRbyeAur4SHci3d4PU" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Nasdaq
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 25,913.9
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +2.13%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU4MzUzMTkuMzUxNDE1Nn0:1wrBLT:pOjd0ugMyPlfASTX8h2cIqWeioeC6x8I1X63JqO7rU8" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 S&amp;P
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 7,600.5
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +1.48%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU4MzUzMTkuMzUxNTE5M30:1wrBLT:MxcqJ03h7p3RnckrepBZw5DYuxXJos5ZR7bphXx3nVI" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Dow
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 53,178.41
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +1.32%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Fe4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU4MzUzMTkuMzUxNjh9:1wrBLT:SwitysW8H0n32D7983u7H-mSJ9cGLuyK2xG9RSrbBSM" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 10-Year
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 4.686%
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(255, 3, 3, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     -6.0 bps
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU4MzUzMTkuMzUxODE5OH0:1wrBLT:rHIZDfKJw35RoGzwO3cE9BlHMTyRm4ksyc3Gns6E8Wk" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Bitcoin
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 $63,601.6
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +0.15%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU4MzUzMTkuMzUxOTI5Mn0:1wrBLT:vLdJZXpbcnMikPMJ9kyemCHBH_NXYRrYYvTGinWdGN4" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Amazon
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 $284.02
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +4.58%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td style="padding:3px 15px 10px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;font-size:13px">
                             <tbody>
                              <tr>
                               <td style="color:#333;padding-right:4px">
                                Data is provided by
                               </td>
                               <td style="margin:0;padding-right:5px">
                                <a rel="noopener noreferrer" style="display:block" target="_blank">
                                 <img height="16px" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F61a0dac0b53d6766459afdca784ae8fe604f17ed-720x102.png%253Fh%253D32%2526q%253D100%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU4MzUzMTkuMzUyMDQwOH0:1wrBLT:Ewrwm3ug5OdwM0LeDbt6fYqwq2LdtchIItq4DXuxwY4" style="vertical-align:middle;height:16px;display:inline"/>
                                </a>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                            <p style="color:#333;text-align:left;margin:0;padding:0;font-size:13px;line-height:22px">
                             *Stock data as of market close, cryptocurrency data as of
                             <!-- -->
                             <!-- -->
                             6:00pm
                             <!-- -->
                             <!-- -->
                             ET.
                             <!-- -->
                             <a class="link" rel="noopener noreferrer" style="color:#333;border-bottom:1px solid #1c7ff2;text-decoration:none" target="_blank">
                              Here's what these numbers mean.
                             </a>
                            </p>
                           </td>
                          </tr>
                         </tbody>
                        </table>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:0 15px;mso-padding-alt:0 15px 15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <strong style="color:#000;font-weight:bold">
                           Markets:
                          </strong>
                          Stocks started off the week
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           strong
                          </a>
                          yesterday, with the Dow hitting a new record as oil prices fell amid hopes for US–Iran diplomacy. Big Tech soared like an AI-generated image of an eagle. Amazon
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           passed
                          </a>
                          the $3 trillion market cap threshold for the first time.
                         </li>
                        </ul>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:0 20px;mso-padding-alt:0 20px 15px 20px">
                       </td>
                      </tr>
                     </tbody>
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                   </td>
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                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
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           </div>
           <div class="c6" style="margin-bottom:7px">
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                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         LAND OF THE RISING YEN
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          Why the US bought a bunch of Japan’s yen
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="US dollars and Japanese yen banknotes scattered and mixed on a surface" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-03%252Fimage-0118a1dc50161e77cc0a88302a50440ce2f01423-1500x1000-jpg%252FMBD-DollarYen-0826.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU4MzUzMTkuMzUyMTY1NX0:1wrBLT:sO0ovqWspQSkvBbWNE9gTwO-KOHDOfv62Y28jgRYnrg" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Getty Images
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Uncle Sam is wading into the Japanese economy with the enthusiasm of an American tourist splurging in a Tokyo manga store. Japan confirmed
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          yesterday
                         </a>
                         that the US Treasury helped prop up the yen for the first time since 1998 by bulk buying the struggling currency, lifting its value against the dollar over the weekend.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         It’s unknown how much yen the US purchased amid the Japanese government’s own yen-buying binge, but Treasury Secretary Scott Bessent was photographed on Friday with a “to-do list” that had one item: buy $5-10 billion of yen. Yesterday, the treasury secretary also publicly
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          called
                         </a>
                         on the Federal Reserve to expand a facility that Japan can use to support its currency.
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         What’s in it for the US?
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The yen-dollar exchange rate recently hit its lowest point in 40 years due to concerns about Japan’s swelling government debt, relatively low interest rates, and rising oil import costs amid the Iran war. That raises household costs in Japan, but it could also impact Americans:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The US might’ve been worried that Japanese authorities would dump the country’s massive US government bond holdings to buy yen and stabilize the currency. Since bond prices move inversely to yields, a selloff would lower US Treasury bond prices, leading to higher borrowing costs.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          President Trump previously took issue with weak foreign currencies, which advantage international exporters over US producers.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Meanwhile, some experts think Japanese Prime Minister Sanae Takaichi’s closeness with the Trump administration made it more willing to help. Last year, the US stepped in to buy Argentinian pesos, as the currency flagged during the exchange rate reforms of President Javier Milei, a staunch Trump ally.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Is the yen saved?
                         </strong>
                         Analysts say that the yen spike might prove short-lived. They argue more sustainable currency strengthening would require Japan’s government to reduce debt and for its central bank to hike interest rates more aggressively. Higher rates in Japan would make it less attractive to borrow yen, then swap it for other currencies to buy higher-yielding foreign bonds—a common practice known as the carry trade that has contributed to the yen’s weakness.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Looking ahead…
                         </strong>
                         Bessent says the US “won’t hesitate” to buy more yen.
                         <em>
                          —SK
                         </em>
                        </p>
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Finding the perfect fit for your team is harder than finding the right charging cable for your phone in the junk drawer.
                        </p>
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                         Paraform can help make it a little easier to find better candidates. They pair hiring teams with top recruiters and custom AI agents to help you
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                          fill your most important roles
                         </a>
                         ASAP.
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                         Here’s how it works: For every search you make, you get paired with
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          specialized recruiters
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                         who know your industry inside and out. You’ll also get help from custom AI agents that learn your hiring bar over time, so you get a shortlist that actually fits what you’re looking for. The team helps you all the way through until the hire is made.
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                         Found that USB-C cable yet? Great—now go get your
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          next great hire
                         </a>
                         .
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                         World
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                         Tour de headlines
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                        <img alt="ships in the Strait of Hormuz off coast of Bandar Abbas" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-05-28%252Fimage-824d55856dcd7129059b0923d787240ce504d5ae-5040x3360-jpg%252FDailyLifeOnTheStraitOfHormuz/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU4MzUzMTkuMzUzMjExNn0:1wrBLT:OAKI9F4kli1gZTSZ2lolzehJed46yva30OF2kZHfd9A" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
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                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          🇮🇷 The US and Iran can’t agree on whether they’re talking.
                         </strong>
                         One day after President Trump said he’d called off a major strike in Iran because “the perimeters of a deal has been agreed to,” things were looking tense again. Iran insisted yesterday it was not in talks with the US but was merely discussing the short-term management of the Strait of Hormuz with Oman. But President Trump
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          called
                         </a>
                         that claim “unbelievably duplicitous” on Truth Social and said “we are, in fact, talking of a solution to a problem that they have caused.” Later in the day, Trump told reporters it was Iran’s “last chance” to sign a deal. He also
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          said
                         </a>
                         Exxon and Chevron were making “too much money” amid the war’s disruptions.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         🥬
                         <strong style="color:#000;font-weight:bold">
                          Two deaths connected to cyclospora outbreak.
                         </strong>
                         Michigan health officials
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          said
                         </a>
                         yesterday that two people—both with underlying health conditions—had died from the recent outbreak of cyclospora, a parasite that causes severe diarrhea. These are the first deaths associated with this summer’s unusually large outbreak of the foodborne illness, which is rarely deadly. Federal officials have said lettuce grown in Mexico and supplied by Taylor Farms to Taco Bell restaurants is behind some of the spread of the parasite in several states, but there could also be other sources of the difficult-to-trace bacteria.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          🚀 SpaceX reports its first earnings as a public company today.
                         </strong>
                         While it may not have the drama of a rocket launch, today’s
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          earnings report
                         </a>
                         by SpaceX will give investors a first look at how their bets on Elon Musk one day colonizing Mars are faring here on Earth. Though the company initially soared and generated enthusiasm from retail investors after its June 12 debut, it has since lost $500+ billion in market value. Posting earnings may not be the company’s biggest moment this week: On Thursday, its first lockup of shares expires, potentially flooding the market if employees and early investors cash out.
                         <em>
                          —AR
                         </em>
                        </p>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         DOUBLE DOSE
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          Analysts ‘perplexed’ over Big Pharma merger report
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Signage of AstraZeneca on corporate building on left and Bristol Myers Squibb on right" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-03%252Fimage-8b611b2a90a6c6343526ae01038ff8a59f6c3da4-6000x4000-jpg%252FMBD-AstraZenecaBristolMyersSquibb-0826.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU4MzUzMTkuMzUzMzQwMX0:1wrBLT:nHsWE07f797qDdPYflcM83tM5ncm76Z0WSb2tpxtMnM" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Adobe Stock
                           </em>
                          </small>
                         </span>
                        </p>
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                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The people who make sense of things for a living don’t know what to make of this one: Analysts were
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          baffled
                         </a>
                         yesterday by a Financial Times report that rival drugmakers AstraZeneca and Bristol Myers Squibb are in talks to pull off one of the largest mergers in Big Pharma history.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The merger might not come together but, if it does, the combined entity would become the world’s fourth-largest drugmaker by market capitalization, worth $400 billion, per FT. Neither company commented on the report.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          That don’t impress investors much:
                         </strong>
                         AstraZeneca’s stock tumbled ~7% yesterday as shareholders booed the prospect of the UK’s second-most valuable public company merging with US-based Bristol Myers, which may have trouble on the horizon:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The US drugmaker’s growth is expected to dip next year as patents on its top-performing medications expire.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Meanwhile, AstraZeneca’s business is
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           booming
                          </a>
                          .
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         “Given the strength of AZ’s growth and innovation profile, we are a bit perplexed,” Jefferies analysts said of the potential merger.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          One potential explanation:
                         </strong>
                         AstraZeneca may want more US business, which currently accounts for nearly half of its revenue. Also, its combined pipeline with Bristol Myers would likely create the industry’s biggest cancer drug portfolio, per Jefferies.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          That could attract harsh antitrust scrutiny,
                         </strong>
                         but in the US, now’s the time—mergers have surged under the Trump administration.
                         <em>
                          —ML
                         </em>
                        </p>
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                         Sponsored By Frontieras
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                         <strong style="color:#000;font-weight:bold">
                          America’s coal reserves hold more than heat.
                         </strong>
                         Frontieras North America’s FASForm
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          reforms coal without combustion
                         </a>
                         into hydrogen, jet and diesel fuels, fertilizer, and industrial chemicals while reducing emissions and producing zero waste. Major institutional backing is secured, and construction of their new $850m West Virginia facility is already underway.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          You can invest at $9.01/share until Aug. 6
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         SOMETHING TO MARVEL AT
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          Spider-Man is in a neighborhood by himself
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Zendaya and Tom Holland swinging through city in Spider-Man: Brand New Day" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-03%252Fimage-5d038a5bc1429bf1e68d2304e879ca1bc90fdc0b-1500x1000-jpg%252FMBD-SpidermanBrandNewDay-0826.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU4MzUzMTkuMzUzOTIzNn0:1wrBLT:3kx00sEmcM8tqu6kIdRzz9169jpjXKoPqayMPMiqZlg" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
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                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Sony Pictures
                           </em>
                          </small>
                         </span>
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                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Good luck to J. Jonah Jameson if he’s looking for something negative to say about this:
                         <em>
                          Spider-Man: Brand New Day
                         </em>
                         had the
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          biggest
                         </a>
                         domestic box office opening weekend in history with $360 million, narrowly eclipsing the mark set by
                         <em>
                          Avengers: Endgame
                         </em>
                         in 2019.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Collectively, the North American box office generated a
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          record $430 million
                         </a>
                         on the strength of the Tom Holland/Zendaya/Jon Bernthal movie
                         <em>
                          Spider-Man
                         </em>
                         and the other Tom Holland/Zendaya/Jon Bernthal movie
                         <em>
                          The Odyssey
                         </em>
                         (Matt Damon is also in it), which picked up $51 million in its third weekend.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The big win for Marvel comes as the Marvel Cinematic Universe (MCU) had appeared to be on the decline:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The six MCU movies in Phase 5, which ended last year and included disappointments like
                          <em>
                           Ant-Man and the Wasp: Quantumania
                          </em>
                          ,
                          <em>
                           The Marvels
                          </em>
                          , and
                          <em>
                           Thunderbolts
                          </em>
                          , earned $3.65 billion. Sounds like a lot, but that’s the weakest gross of any MCU phase.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Rotten Tomatoes
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           ranked
                          </a>
                          all 38 MCU movies—the bottom five were all released post-
                          <em>
                           Endgame
                          </em>
                          .
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          This can’t be the end, right?
                         </strong>
                         When asked if Holland could return for a fifth
                         <em>
                          Spider-Man
                         </em>
                         movie, Sony Pictures chairman Tom Rothman
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          told
                         </a>
                         Variety: “I heard Tom say at some point that he wanted to continue, and we would love it if he did.”
                         <em>
                          —DL
                         </em>
                        </p>
                        <div style="padding-top:12px">
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                         Reader poll
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                         <div style="margin-bottom:5px">
                          <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                           When it comes to superhero movies, I prefer…
                          </p>
                         </div>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Marvel.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          DC.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Neither, I’m over superhero movies.
                          <br/>
                         </a>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Matty’s work-life balance
                        </p>
                        <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;color:#333;margin:8px 0 0 0;padding:0 15px">
                         Gen Z are bringing their parents to work
                        </p>
                        <img alt="Illustration of two doting parents hovering over their son's shoulders while he works at a laptop. He looks up at them a bit bewildered." class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-03%252Fimage-f2a4378058cca3720a77351a7f6e2961e5bab3ff-1500x1000-jpg%252FMBD_08032026_JobParenting_01.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU4MzUzMTkuMzU0MzkzNX0:1wrBLT:zqAY9AARdtUOtp2iz8dAcSKtYA4EY-U7ybAfxuhCeyw" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Niv Bavarsky
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <em>
                          On Tuesdays, the Brew’s Matty Merritt brings you the news you need to make life a little easier during your 9-5, 5-9, or OOO.
                         </em>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         It used to be that the closest your parents ever got to your job hunt was your exasperated “I’ll let you know if I hear anything” when they asked how an interview went. But some Gen Zers are now entering the workforce with their
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          parents in tow
                         </a>
                         :
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Of the 1,000 Gen Zers surveyed by resume service Zety, 20% said a parent had joined them on a job interview.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          And it doesn’t stop when they get the job. HR professionals told the Wall Street Journal they’re fielding calls from parents of young employees asking about performance reviews, benefit packages, or even calling in sick on their kids’ behalf.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Maybe don’t?
                         </strong>
                         Recruiters warn that this kind of parental involvement can be a huge red flag for potential employers. It’s much more appropriate to have your rich, well-connected parent
                         <em>
                          quietly
                         </em>
                         get you a summer internship.—
                         <em>
                          MM
                         </em>
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
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             <tbody>
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                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#ffffff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Sponsored By State Street Investment Management
                        </p>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Sponsor: State Street Investment Management" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-01%252Fimage-37323bce386015998f0d3fe69d4794aacf6ec2b2-1000x750-png%252F4445350-qndx-morning-brew-ad-1000x7501.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU4MzUzMTkuMzU0NTA5fQ:1wrBLT:540msIrJACsjUM1d-Y6cQF2O73PGqGVREw5qbDTdebY" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Growth is no longer a satellite allocation.
                         </strong>
                         Now it’s increasingly built into the equity core. You can
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          tilt your core more toward growth
                         </a>
                         with QNDX, the State Street SPDR® Portfolio Nasdaq® 100 ETF.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Access 100 growth-driven companies with a low-cost approach
                         </a>
                         designed to position for evolving market leadership over the long term.
                        </p>
                       </td>
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                 </tbody>
                </table>
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              </tr>
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            </table>
           </div>
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                 <tbody>
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                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         News
                        </p>
                        <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;color:#333;margin:8px 0 0 0;padding:0 15px">
                         What else is brewing
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Palantir
                          </a>
                          raised its full-year guidance after reporting an “otherworldly” quarter in which its overall revenue grew 93% and its commercial revenue grew 149%.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Two Republican senators
                          </a>
                          said they’d stop blocking Todd Blanche’s confirmation as attorney general after he agreed to formally nix the $1.8 billion “anti-weaponization fund” included in President Trump’s deal with the IRS.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Twenty-five states
                          </a>
                          sued to block President Trump’s new tariffs, saying they were just a replacement for the ones the Supreme Court struck down.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Wildfires
                          </a>
                          forced 60,000 people to evacuate the Spokane, WA-area, and destroyed at least 700 homes.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Mauricio Pochettino
                          </a>
                          has signed a new contract to continue as manager of the US men’s national soccer team. His deal was largely funded by billionaire Ken Griffin.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Ariana Grande
                          </a>
                          dropped out of an upcoming West End musical revival and said she’d be taking “a step back from visibility” after her tour ends.
                         </li>
                        </ul>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
           <div class="c6" style="margin-bottom:7px">
            <table cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
             <tbody>
              <tr>
               <td>
                <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
                      <tr>
                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         recs
                        </p>
                        <img alt="A few good links" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-31%252Fimage-e19b6abe749db07c9f28e466f0944c893d8dab84-1350x330-png%252FMB_newsletter_banner-goodlinks2.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU4MzUzMTkuMzU0NjQyNH0:1wrBLT:Ge2o_ZSqc7e_y22ZYBNLfCNaRgagXw3er0dBQV2Fem4" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Lower your water bill by
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           changing how you shower
                          </a>
                          .
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The dishes chefs
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           won’t order
                          </a>
                          at restaurants.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Start planning your trip: UNESCO just added 26 new
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           World Heritage sites
                          </a>
                          .
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          When willpower isn’t working,
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           this little device
                          </a>
                          keeps you off your phone.**
                         </li>
                        </ul>
                        <div>
                         <ul style="color:#333;margin-top:0;padding-left:30px">
                          <li style="color:#333;line-height:22px;margin-bottom:10px">
                           Thin skin after 50? Remember when bruises faded fast and skin bounced back?
                           <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                            NativePath research
                           </a>
                           links a particular deficiency to skin strength and dark spots.
                           <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                            Learn more
                           </a>
                           .*
                          </li>
                         </ul>
                        </div>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <sup style="font-size:smaller;vertical-align:super">
                          <em>
                           *A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission.
                          </em>
                         </sup>
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
           <div class="c6" style="margin-bottom:7px">
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             <tbody>
              <tr>
               <td>
                <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
                      <tr>
                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Play
                        </p>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Games available from Morning Brew" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2025-09-11%252Fimage-3524949da8d220051120175f97246671d52e0b38-2700x660-png%252FIMG_9052.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU4MzUzMTkuMzU0NzYzfQ:1wrBLT:Ns_oAdEysTvJgvbGc79EAAvhFUVNgwJOQi1o8HHKjOw" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Brew Mini:
                         </strong>
                         John Huston gave us
                         <em>
                          The Misfits
                         </em>
                         . Today, Jack Murtagh gives us “Delinquents.”
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Play the Mini here
                         </a>
                         .
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         Money trivia
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         With the yen in the news, here’s a trivia category on global currencies. We’ll give you a country, and you have to name the currency it uses.
                        </p>
                        <ol>
                         <li>
                          Lithuania
                         </li>
                         <li>
                          Turkey
                         </li>
                         <li>
                          Sweden
                         </li>
                         <li>
                          Iran
                         </li>
                         <li>
                          Kenya
                         </li>
                         <li>
                          Vietnam
                         </li>
                        </ol>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
           <div class="c6 core_hidden" style="margin-bottom:7px">
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                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
                      <tr>
                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Share the Brew
                        </p>
                        <div style="color:#333;padding:15px">
                         <a>
                          <img alt="Referrals Get Rewarded" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F186d427b237afa331a96448ae17d5a27b6d8ca2a-1350x330.png%253Fw%253D1340%2526q%253D100%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU4MzUzMTkuMzU0ODc0MX0:1wrBLT:UOqljsBCNHZhOGTMjabNS8f-fGA2h-jftZSbtupY0qQ" style="width:100%;max-width:670px;display:block;margin-bottom:15px;" width="670"/>
                         </a>
                         <p style="margin-bottom:15px;line-height:22px;">
                          Share the Brew, watch your referral count climb, and unlock brag-worthy swag.
                         </p>
                         <p style="margin-bottom:15px;line-height:22px;">
                          Your friends get smarter. You get rewarded. Win-win.
                         </p>
                         <p style="margin-bottom:15px;line-height:22px;">
                          <b>
                           Your referral count:
                          </b>
                          0
                         </p>
                         <a class="stb-btn" style="margin-top:inherit !important;margin-bottom:inherit !important;margin-right:inherit !important;margin-left:inherit !important;width:100%;max-width:150px;font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#ffffff;font-weight:900;text-decoration:none;text-align:center;background-color:#1c7ff2;padding-top:15px;padding-bottom:15px;padding-right:15px;padding-left:15px;border-radius:4px;display:block;">
                          Click to Share
                         </a>
                         <p style="margin-top:15px;margin-bottom:15px;line-height:22px;">
                          Or copy &amp; paste your referral link to others:
                          <br/>
                          <a class="link" style="border-bottom-width:2px;border-bottom-style:solid;border-bottom-color:#1c7ff2;text-decoration:none;color:#252525;" target="_blank">
                           morningbrew.com/r/?kid=979c4554
                          </a>
                         </p>
                        </div>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
           <div class="c6" style="margin-bottom:7px">
            <table cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
             <tbody>
              <tr>
               <td>
                <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Answer
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <ol>
                         <li>
                          Euro
                         </li>
                         <li>
                          Turkish lira
                         </li>
                         <li>
                          Swedish krona
                         </li>
                         <li>
                          Iranian rial
                         </li>
                         <li>
                          Kenyan shilling
                         </li>
                         <li>
                          Vietnamese đồng
                         </li>
                        </ol>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <span style="text-decoration:underline">
                          Word of the Day
                         </span>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Today’s Word of the Day is: inversely, meaning “in the opposite direction.” Thanks to Julie from Austin, TX, for a suggestion that made us do the opposite of frowning. Submit another Word of the Day
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          here
                         </a>
                         .
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
           <div class="c6" style="margin-bottom:7px">
            <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
             <tbody>
              <tr>
               <td>
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                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
                      <tr>
                       <td style="padding:15px">
                        <span>
                         <p style="margin-top:0;margin-bottom:15px;font-size:10px;line-height:10px">
                          <strong style="color:#000">
                           ✳︎
                           <!-- -->
                           A Note From
                           <!-- -->
                           Frontieras
                          </strong>
                         </p>
                         <p style="font-size:10px;line-height:22px;color:#333;margin-top:0;margin-bottom:15px">
                          This is a paid advertisement for Frontieras’ Regulation A offering. Please read the offering circular at
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