Photo: Diego Cupolo/NurPhoto via Getty Images

The Turkish lira has continued its six-day free fall, hitting a record low against the dollar following news that the U.S. will review the country's duty-free access to the American market, reports Reuters.

Why it matters: The currency has lost a quarter of its value this year, driven both by President Recep Tayyip Erdogan’s push to exercise more control over Turkey's monetary policy and the threat of U.S. sanctions over the detention of American pastor Andrew Brunson. A review by the U.S. Trade Representative's office on whether Turkey has complied with its preferential tariff system could affect $1.66 billion worth of Turkish imports.

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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.

Dion Rabouin, author of Markets
20 mins ago - Economy & Business

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.)

2 hours ago - World

U.S.-Israeli delegation secretly visits Sudan

Photo: Artur Widak/NurPhoto via Getty Images

A joint U.S.-Israeli delegation traveled secretly on Wednesday to Sudan for talks on a possible announcement on "ending the state of belligerence" between the countries that could be released in the next few days, sources briefed on the trip told me.

The big picture: President Trump announced earlier this week he is ready to remove Sudan from the U.S. state sponsors of terrorism list once Sudan pays $335 million in compensation to American terror victims.

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