Republican National Convention: The party’s multi-day convention kicks off with an increased focus after Saturday’s assassination attempt against Donald Trump. President Joe Biden has directed the US Secret Service to review all security measures for the event in Milwaukee, Wisconsin, which attracts thousands of delegates representing every US state and territory. One matter still to be resolved is who Trump will select as his vice-president — possible contenders include Republican senator and venture capitalist JD Vance, North Dakota governor Doug Burgum and Florida senator Marco Rubio. Both Trump and his running mate are set to be formally selected as the Republican nominees for the race to the White House.
Goldman Sachs: The resurgence in corporate takeover activity and debt offerings is expected to have boosted the Wall Street bank’s net income in its latest quarter. Rivals Citigroup and JPMorgan Chase on Friday reported investment banking fees in the second quarter jumped more than 50 per cent from a year ago thanks to a recovery in dealmaking activity.
BlackRock: Investors will be watching to see if the group sets another global record for assets under management on mostly buoyant financial markets when it reports this morning, and whether its net inflows will finally show signs of the long-awaited rotation into bonds and bond funds. BlackRock, which has $10.5tn in AUM, could also provide an update on whether its new focus on active exchange traded funds is starting to bear fruit.
Fedspeak: Jay Powell will be in conversation with the chair of the Economic Club of Washington, DC at the club’s headquarters. The Federal Reserve’s chair last week told lawmakers the central bank was still looking for further “good data” before deciding when to cut interest rates.
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