Axios

At least 7 people, many or all of them scientists, were killed last week when a missile test resulted in an explosion near Russia’s Arctic coast, per the NYT. Little has been confirmed publicly about the explosion, except that it released radiation.

Between the lines: “The reference to radiation was striking — tests of missile engines don’t involve radiation. Well, with one exception: Last year, Russia announced it had tested a cruise missile powered by a nuclear reactor. ... NATO calls it the SSC-X-9 Skyfall,” Jeffrey Lewis writes for Foreign Policy.

The world’s two most powerful authoritarian states have been unable to quell pro-democracy demonstrations that have now spanned several weeks and drawn global attention.

The latest: Flights out of Hong Kong were canceled today after protesters flooded into the airport, while Moscow witnessed its largest protests in seven years over the weekend. Video of police battering demonstrators has emerged from both cities. Broader crackdowns now seem likely, particularly in Hong Kong.

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.

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