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Treasury Secretary Scott Bessent’s buyback of long-term bonds was a bit of a letdown this week — the interest rates barely budged. The Treasury’s next move in its quest to rein in the national debt will be to issue a ton more short-term securities. But that might not be such a good idea, either. In this episode, we’ll catch you up on the bond market turmoil. Plus: Multifamily construction permits are a housing bright spot, the Fed’s favorite inflation measure is due for a methodology change, and two craft-focused small business owners share the view from their economy.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Read the stories in today’s episode:

"Buying a house with a credit card": The Treasury's plan to finance the national debt
The Fed's preferred measure of inflation is changing
As central bank bigwigs gather in Jackson Hole, local businesses carry on
Builders bet on multifamily housing — but only in certain places

It's been a month now since the World Cup ended, but English football is back this week. The Premier League season kicks off Friday. And Jeff Bezos, the billionaire founder of Amazon, is the latest American investor to buy a stake in a team — he’s now part of a group that purchased more than a third of Liverpool Football Club. Was it a smart investment? But first: Fewer homeowners are "equity-rich," and that concerns real estate analysts.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Number of "equity-rich" homes has declined
Why would Jeff Bezos want to buy an English football team?

In case you missed it, investor jitters about borrowing, geopolitical conflict, and inflation drove the 30-year U.S. Treasury yield up to a nearly two-decade high. Then, the Treasury Department announced it would spend $4 billion on longer-term government bonds. There was some relief, and bond yields began to fall. We'll explain market reactions and why this is all about confidence in the long-term financial stability of the U.S. Plus, we'll learn about the current landscape for psychedelic therapy drugs.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

How much should parents budget for daycare? Does it make more financial sense for both parents to work and pay for childcare, or for one parent to stay home and care for their child? And why is childcare so expensive if childcare workers aren’t paid enough? In this episode, Reema shares a big announcement… She also hears from listeners and new parents about how they’re making childcare work for their families, and public policy expert Taylor Morrissey explains why the childcare system in the United States feels so broken.

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Most of the world’s internet traffic flows through underwater cables on the ocean floor. The wires are also responsible for some $10 trillion worth of financial transactions every day.

And because those cables hold so much data and carry so much money, they’re also a potential security threat. That may explain why the U.S. and China are vying for control over the technology — and why the Trump administration is ramping up spending to replace cables in the Caribbean and Central America.

Marketplace’s Meghan McCarty Carino spoke with Erin Murphy, the managing director for Asia at Redpoint Advisors, about why these cables play a key role in geopolitics.

More on this:

US is considering big boost to anti-China spending globally from The Associated Press

Risk Beneath the Waves: Safeguarding Subsea Cables for a Secure Global Network from CSIS