Sunday's world stories
The scared planet
Everybody's scared. After the Fed cut rates at the end of July, the pessimistic moves kept on coming, with India, New Zealand and Thailand all cutting rates on Wednesday alone. Safe-haven asset prices keep on hitting new highs: A record $15 trillion of bonds around the world now carry negative interest rates, and the price of gold has hit $1,500 per ounce, up 25% in the past 12 months.
The big picture: Sometimes, as in 2008, a global crisis feels like an exogenous shock — something that hits the world unexpectedly and requires a unified and coordinated response. This time is different: Insofar as the world is headed for recession, it's a recession where government actions are the problem rather than the solution.
North Korea: No talks unless U.S. military exercises with Seoul end
There will not be inter-Korean talks unless the U.S. and South Korea end joint military exercises that put North Korea as "an enemy," a Pyongyang official said Saturday, according to state media.
Why it matters: The announcement came hours after North Korea launched projectiles from its eastern coast — the latest in a series of weapons tests since North Korean leader Kim Jong-un and President Trump agreed to resume denuclearization talks at a June 30 meeting.
What they're saying: The state-run KCNA reports that Kim had "guided the test-fire of a new weapon," without specifying the type of system. Trump tweeted earlier that Kim has expressed a desire to restart negotiations.
Go deeper: Ignoring North Korean missile tests could hamper nuclear talks
Scoop: Trump tells advisers Israel should bar entry to Reps. Omar and Tlaib
President Trump has told advisers he thinks Israeli Prime Minister Benjamin Netanyahu should use Israel's anti-boycott law to bar Reps. Ilhan Omar (D-Minn.) and Rashida Tlaib (D-Mich.) from entering Israel, according to 3 sources familiar with the situation.
What he's saying: Trump's private views have reached the top level of the Israeli government. But Trump denies, through White House press secretary Stephanie Grisham, ever giving any kind of directive to the Israelis. "The Israeli government can do what they want. It's fake news," Grisham said on Saturday.