In July 2022, Turkey's annual producer inflation increased to 144.61 percent from 138.31 percent the month before. It was the highest inflation since records began in 1983, reflecting a significant depreciation of the Turkish lira.

The annual inflation rate in Zimbabwe increased to 256.9 percent in July 2022 from 191.6 percent the previous month, marking the highest level since February 2021. Strong inflationary pressures have been present in the nation, which are being blamed on the fluctuating exchange rate and external factors like the conflict in Ukraine.

China's Foreign Ministry declared that if Nancy Pelosi, the speaker of the US House of Representatives, visits Taiwan, Beijing would not quietly sit by. China will "surely take forceful actions" to preserve its sovereignty and territorial integrity, the ministry reaffirmed, adding that the visit will have "severe implications."

Evergrande, one of the biggest Chinese developers is still in trouble, that have started in the middle of the last year. Evergrande Group (Nanchang), one of the subsidiaries of the struggling developer, has been asked to repay its guarantor 1.08 billion dollars for failing to honour its debt obligations.

Kathy Hochul, Governor of New York, issued a state of emergency declaration in the state of New York due to rising number of monkeypox cases. This should allow for faster reactions in case of rapid spread of the disease.

According to the chief investment officer of JP Morgan's Asset Management, Bob Michele, the bond market has already priced in a possibility of a US recession. Michele stated that clients are returning to the bond market, especially corporate bonds and predicts a recession with 75% chance in the next 18 months.

Elon Musk has only recently challenged Parag Agrawal, CEO of Twitter, to a public debate. The main topic of the debate would be the bots and their presence on the social media platform. While it is unlikely for the debate to take place, it would be without any doubt a very popular and watched event.

Fed Governor, Michelle Bowman, has stated recently that the central bank of the United States should keep raising interest rates. Bowman stated that Fed should keep hiking interest rates by 75 bps until they see decline in inflation that is consistent, meaningful and lasting.

Elon Musk, CEO of Tesla, has been a supporter of Dogecoin for quite a while. Tesla has sold most of its bitcoins last quarter, while Elon Musk once again showed that he believes in Dogecoin more than in Bitcoin by claiming that Dogecoin is better at handling lots of transactions than Bitcoin.

Virgin Galactic shares plunged by more than 19% after US markets opened. This is due to a net loss of $111 million for Q2 this year, missing estimates, and a 36% decline in revenue. The big letdown was another postponement of its commercial space service from 2023's Q1 to Q2.

Clients of Pimco, a well-known asset management company, withdrew $29 billion in three months from Bond funds. Interest rate hikes all over the world hit bond markets hard, and clients pulled massive amounts of money as a result.

Amid the huge popularity increase of AMTD Digital (HKD)and growth by more than 10,000% in just weeks, HKD found its peak and is now down by almost 80% from its all-time high level. Beware of higher volatility.