Ng Han Guan / AP

Barely a week after voting yes on new U.N. sanctions targeting North Korea, China has announced it will stop importing key goods from the Hermit Kingdom, per the AP's Joe McDonald:

  • "The Chinese customs agency said it will stop processing imports of North Korean coal, iron and lead ores and fish at midnight on Sept. 5. ... Other North Korean exports to China also include clothing, knitwear and plastic rain ponchos, which appear not to be affected by the latest sanctions."
  • "The latest U.N. sanctions are intended to block North Korean exports worth $1 billion — a significant share of total exports valued at $3 billion last year."
  • Why it matters: "China, the isolated North's main trading partner, has been reluctant to push leader Kim Jong Un's regime too hard for fear it might collapse. But Beijing is increasingly frustrated with Pyongyang and supported a U.N. Security Council ban on Aug. 5 on coal and other key goods."

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Biden says he will appoint commission on Supreme Court reform

Photo: Chip Somodevilla/Getty Images

Joe Biden told CBS' "60 Minutes" this week that if elected, he would put together a bipartisan commission to study the federal court system and make recommendations for reform.

Why it matters: Biden has come under pressure to clarify his position on court packing after some Democrats suggested expanding the court if Senate Republicans confirm President Trump's Supreme Court nominee Amy Coney Barrett.

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Wall Street still prefers bonds

Illustration: Aïda Amer/Axios. Photo: Sunset Boulevard/Getty Contributor

Investors' return on U.S. corporate bonds has been falling since its August peak, but buying has only accelerated, especially in investment grade bonds that are offering historically low yields.

The state of play: Since hitting its 2020 high on Aug. 4, the benchmark Bloomberg Barclays U.S. bond aggregate has delivered a -2.2% return. (For comparison, the S&P 500 has gained 3.9% during the same time period.)

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