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Data: Federal Reserve Bank of Philadelphia; Chart: Axios Visuals

The Fed's regional manufacturing indexes are bouncing back in July after an awful June swoon, none more so than the Philadelphia region, which rose to 21.8 from a 0.3 reading in June.

Why it matters: It was the highest result in a year for the survey.

Details: Many of June's regional Fed surveys were conducted during the week President Trump threatened to impose tariffs on imports from Mexico in addition to tariffs on $200 billion worth of Chinese goods.

  • "A July rebound, therefore, was always likely but this is a gratifyingly big increase," Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a note to clients.
  • The strong rebound in the Philly Fed number, following a modest gain from the New York regional Fed, doesn't promise a pickup in overall U.S. manufacturing, "but it does make it much more likely," Shepherdson added.

Go deeper: Manufacturing numbers keep getting worse

Go deeper

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Why it matters: Trump was furious when he found out recently that Mary Trump, a trained psychologist, would be publishing a tell-all memoir. And Trump's younger brother, Robert, tried and failed to block the publication of "Too Much and Never Enough: How My Family Created the World's Most Dangerous Man."

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Photo: Andre Borges/NurPhoto via Getty Images

Brazilian President Jair Bolsonaro announced Tuesday that he tested positive for coronavirus.

Why it matters: Brazil's coronavirus outbreak is one of the largest in the world, topped only by the U.S., and Bolsonaro has long downplayed the effects of the virus, pushing businesses to reopen over the last few months in order to jumpstart the country's economy.