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This episode of On Investing looks at a market environment increasingly shaped by persistent inflation, rising long-term Treasury yields, fiscal concerns, and renewed trade tensions. Liz Ann Sonders and Collin Martin begin by discussing the latest inflation data, which continues to show price pressures well above the Federal Reserve's 2% target. While wage growth is not driving inflation, they highlight several other forces keeping inflation elevated, including energy prices, tariffs, and the massive investment required to support the AI boom. The conversation then turns to Treasury Secretary Scott Bessent's efforts to influence long-term interest rates after yields surged. Collin argues that Bessent's actions are understandable given concerns about mortgage rates and borrowing costs, but he views them as a short-term response to a much deeper issue: the nation's growing debt burden and ongoing fiscal deficits. Both hosts suggest that attempts to manage yields address the symptoms rather than the underlying causes. They also explore the potential tension this creates with the Federal Reserve, which may prefer tighter financial conditions to combat inflation. The episode closes with a look ahead to the Fed's Jackson Hole conference, upcoming labor market reports, purchasing manager surveys, and other economic data that could shape expectations for both growth and Fed policy. You can read the report Liz Ann mentions here: "Great Moderation Era: Drift(ing) Away." On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting. If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal. Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Investing in alternative investments is speculative, not suitable for all clients, and generally intended for experienced and sophisticated investors who are willing and able to bear the high economic risks of the investment. 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European futures are set to start in the green after snapping a four-week winning streak. Investors are anticipating UK employment and inflation data, flash PMIs and the latest FOMC meeting minutes later this week. The U.S.-Iran MOU expires later today with the impasse forcing President Trump to concede Americans will have to contend with higher fuel prices. Heatwaves cause wildfires in Belgium while the level of the Rhine in Germany falls to a new record low. Berkshire Hathaway increases its stake in Alphabet. The tech giant is now its third-largest holding. Form 13F filings in the U.S. reveal a big tech ‘tug-of-war' among institutional investors. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. inflation concerns ease with producer prices coming in unchanged for July, cutting the odds for a September Fed hike. South Korea's KOSPI surges further following last month's sell-off. European futures are in the green following an otherwise lacklustre week but the continent is poised for one of its strongest earnings seasons in years. The U.S. 30-year T-bill auction racks up the highest borrowing costs in 25 years – up at 5.2 per cent – as investors examine Washington's spiraling debt pile.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

July's U.S. inflation slows down to come in at 3.4 per cent with the core print falling to 2.5 per cent. Markets now expect the September rate decision to remain on hold. The CEO of Norway's sovereign wealth fund says he is cautious about AI funding even though the fund's gains are largely derived from tech. NBIM's Nicolai Tangen tells CNBC he is still optimistic about economic resilience around the world in the long term. Shipping titan Maersk boosts its FY guidance on the back of a robust volume growth outlook . Rival carrier Hapag-Lloyd sees an increase in Q2 revenues due to higher spot rates.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#stockmarket #finance #investing #usinflation #jiocredit #airtel #tatamotors #apollohospitals #embassyreit #lenskart #rbi #tatasons #ndrinvit #astral #businessnewsUS CPI cools to 3.4% as markets eye the Fed's next move. India's July retail inflation ticks up to 4.45%. BofA unit acquires a 49.9% stake in Jio Credit for $1.9B, while Airtel hikes tariff plans. Plus, N Chandrasekaran to step down from Tata Sons in 2027, NDR InvIT files for a ₹750 Cr IPO, and Q1 results from Tata Motors, Apollo Hospitals, Lenskart, and Astral!https://shorturl.at/ZlJ11Book your seat for Delhi Sessionhttps://shorturl.at/gM97lHow to Use Artificial Intelligence for Investing - Combo of 5 ebookshttps://shop.investyadnya.in/pages/global-portfolio-methodologyInvest in Investyadnya's Global Equity Portfolio00:00 Start01:23 US Inflation & Fed Rate Expectations03:57 Strait of Hormuz & Red Sea Conflicts06:58 Trump Sued Over Truth Social07:29 India Retail Inflation Hits 4.45pc08:37 Tata Sons Chairman Succession11:17 Embassy REIT Enters Nifty 50012:01 BofA Arm Buys 49.9% in Jio Credit12:58 Airtel Withdraws Prepaid Plans13:35 NDR InvIT Files ₹750 Cr Public IPO14:15 Tata Motors Q1 FY27 Results15:34 Apollo Hospitals Q1 FY27 Results16:29 Lenskart Q1 FY27 Results17:06 Astral Ltd Q1 FY27 Results17:55 Knowledge Section

Coreweave shares surge after the AI cloud provider posts a beat on both the top and bottom line. Data centre infrastructure firm Super Micro is also up on positive forecasts. Investors await the latest U.S. inflation data with the headline number expected to be 3.4 per cent. There is no clear agreement about the Federal Reserve's next move. Oil inches higher as attacks on shipping in both the Strait of Hormuz and the Bab el-Mandeb raise fears of escalation as well as increase concern over crude supply chains. A top Iranian security official doubles down on Tehran's demands to re-open the Gulf. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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#stockmarket #finance #investing #amfi #sip #rvnl #mrf #sencogold #piindustries #tdpower #sebi #nifty50 #sensex #businessnews #mutualfundsCatch today's key market updates! AMFI data reveals SIP contributions surging to ₹31,961 Cr with total AUM reaching ₹85.76 lakh crore. SEBI considers allowing FPI trading in non-agri commodities. Meanwhile, RVNL's order book touches ₹99,262 Cr, and TD Power raises its FY27 guidance. Plus, detailed Q1 FY27 earnings coverage of Senco Gold, PI Industries, and MRF!https://shorturl.at/ZlJ11Book your seat for Delhi Sessionhttps://shorturl.at/gM97lHow to Use Artificial Intelligence for Investing - Combo of 5 ebookshttps://shop.investyadnya.in/pages/global-portfolio-methodologyInvest in Investyadnya's Global Equity Portfolio00:00 Start00:55 AMFI Mutual Fund Inflows04:02 SEBI May Allow FPIs in Commodities05:27 Senco Gold Q1 Results08:09 PI Industries Q1 Results11:30 RVNL Backlog Hits ₹99,262 Cr14:18 MRF Ltd Q1 Results15:39 TD Power System Update17:23 Lessons From “The Psychology of Money”

Nvidia makes a massive financing push, teaming up with top Wall Street bosses who pledge more than half a trillion dollars in capital. CEO Jensen Huang tells CNBC that his company's chips platform will become its own asset class. Hopes of a new deal over the Strait of Hormuz fade with President Trump claiming the U.S. fully controls the waterway and that it should be Iran who pays the U.S. reparations for 50 years of ‘damage'. Crude inches higher and Asian equities remain mixed while futures in Europe and the U.S. are flat.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Iran raises the price for reopening the Strait of Hormuz, demanding U.S. reparations under June's memorandum of understanding. Yemen's Houthi rebels hit a Saudi oil refinery just days after Riyadh signs a mutual regional defence pact with Turkey and Pakistan. Berkshire Hathaway's Greg Abel pumps almost $20bn in investments in the second quarter, including almost $10bn in Alphabet.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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The Iran draft plan to reopen the Strait of Hormuz reportedly prohibits vessels from ‘hostile' states including the U.S. and Israel. A U.S. official tells CNBC that any temporary passages must be unimpeded for all. In tech news, Alphabet raises $25bn in debt to fund A.I. projects while Kansas City Federal Reserve Jeff Schmid asks whether the sector is becoming another ‘too big to fail.' China sees exports rise almost 24 per cent in July on the back of strong demand for its chip components. Meanwhile, President Trump imposes a 15 per cent tariff on poly-silicone products to target semi-conductor and photovoltaic product supply chains. Investors await July's U.S. jobs report later today. Economists expect a boost of up to 83,000 jobs due in part to the recent World Cup.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Big Tech moves were in focus during Wall Street's session on Wednesday as DeepMind CEO Demis Hassibis' departure drags Alphabet down. SpaceX shares were also down following the company's debut earnings with investors now awaiting the first expiration of its insider lock-ups earlier today. Germany's Commerzbank posts an almost 100 per cent jump in quarterly net profit beating expectations ahead of a potential takeover from Italian lender Unicredit. Siemens hikes its FY guidance as orders surge by almost 14 per cent on strong demand from infrastructure and data centres. CEO Roland Busch tells CNBC every one of its units is ‘firing on all cylinders'. Iran and Oman inch closer to a deal to reopen the Strait of Hormuz with the pact reportedly granting Tehran control over entry rights to the waterway. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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High investment costs outweigh SpaceX's earnings beat with investors concerned about AI capex doubling from the previous quarter. Asian equities are in the green, following fresh record highs on Wall Street yesterday. Oil retreats as U.S. Treasury Secretary Scott Bessent tells CNBC he sees movement in opening the Strait of Hormuz. In pharma news, Novo Nordisk shares dive in the U.S. session despite the drug maker hiking its guidance due to investor fears over sales of its Wegovy fat loss pill. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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BP reports earnings amid continued price volatility and the company looks to market its North Sea assets. President Trump says talks with Iran have resumed despite Tehran denying the two sides are negotiating. Oil inches higher following a three-week low and President Trump slams IOCs for windfall profits in the sector and urges retail price cuts. The White House is due to host top A.I. company bosses later today to discuss cyber security as Palantir CEO Alex Karp attacks the leading labs over data protection.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil prices slump after President Trump announces new Iran talks are imminent, citing pressure from Gulf allies to hold off on a massive round of airstrikes. European and U.S. futures are in the green ahead of the first trading session of August. In Japan, the yen stabilises after U.S. and Japanese authorities confirm joint market intervention. Reports emerge of a $400bn mega-merger between AstraZeneca and Bristol Myers-Squibb which would potentially be one of the largest deals in the pharma sector ever. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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The Kospi rollercoaster continues - Korea's main stock index records its best day ever as SK Hynix and Samsung increase their valuations by more than a quarter. The Nasdaq breaks a 6-day losing streak as Microsoft adds the most to its market cap in a single day of any company, ever. Elsewhere, the Bank of England delivers its fifth hold in a row, with the MPC voting 6 to 3 to keep rates unchanged. And Italian defence giant Leonardo upgrades its profit and order forecasts for the year as new contracts surge 45-percent in the first half.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

American equities plummet and borrowing costs hit their highest in nearly two decades as investors find little to like in the Fed's fifth 'hold' in a row. But, Chairman Warsh hints that a hike could be on the way. Elsewhere, investors digest a mixed bag of tech earnings from across the pond. Microsoft's cloud growth accelerates at its fastest pace in nearly five years, but Meta takes a hit as Mark Zuckerberg doubles down on AI spending. And strong EV demand boosts Renault sales in the first half, as the French carmaker withstands pressure from its Chinese peers.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Another day, another circuit breaker on the Kospi: AI capex fears spill across Asian equity markets, on the back of a five-percent slump in Nvidia shares that sees Apple regain its crown as the world's most valuable public company. In other news, oil prices extend yesterday's declines amid hopes for some kind of resolution to the Iran conflict. LVMH gets a lift as sales inch higher in the second quarter, with US strength helping the company to shrug off weaker demand in Europe. And Mercedes-Benz sees a boost in second quarter operating profit but warns of intense competition and subdued demand in China.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Oil prices plunge as Iran reportedly says it will hold off on strikes as long as the US does the same, while Trump advisers fear over munitions supplies. Calming hostilities in the Middle East helps lift equity futures on both sides of the Atlantic - investors brace for a big week of corporate earnings and central bank decisions. Elsewhere, CXMT becomes the biggest China-listed company by total market cap in its blockbuster IPO - surging more than 500-percent in Shanghai. And French President Emmanuel Macron is set to hold a crisis cabinet meeting today, as hundreds of thousands of people are displaced as wildfires tear across France and Spain.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Middle East concerns push Brent to $100 a barrel while equity and debt markets see sell-offs on both sides of the Atlantic. European stocks suffer their biggest losses in a fortnight with German yields spiking to their highest level in 15 years. President Trump launches his latest round of tariffs with most major trading partners affected. Eu foreign policy chief Kaja Kallas has called the measures a ‘negative surprise'. German software giant SAP pares back its FY guidance but its cloud order backlog is up by 26 per cent. Meanwhile, VW shares are lower in pre-market sales after the car maker predicted 2026 sales to fall by 3 per cent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Alphabet shares pare back overnight as investors scrutinise its ever-increasing capex plans. Tesla is also down after missing on earnings while free cash flow turns negative. Elsewhere, Unicredit raises its outlook after posting a beat on both the top and bottom lines as CEO Andrea Orcel tells CNBC the bank is firing on all cylinders. And forex headwinds take a bite out of Roche's first half sales, but the Swiss drugmaker confirms its full-year targets.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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UK inflation data hits the tape - new Prime Minister Andy Burnham vows to practice fiscal discipline, scrapping VAT on electricity bills and facing calls to extend tax breaks for young workers. Elsewhere. three tankers carrying Saudi oil are forced to U-turn in the Red Sea amid Houthi threats, as a new front opens up in the US-Iran conflict. On the tech front, Samsung is reportedly in talks to invest up to 1 billion euros in French AI firm Mistral. And Santander says it's on track to meet its targets for the year after underlying net profit jumps by nearly a fifth amid higher revenues.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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New UK Prime Minister Andy Burnham pledges immediate action on the cost of living: scrapping VAT from electricity bills. That, after announcing John Healey as his surprise pick for Chancellor. Elsewhere, Yemen's Houthis impose a naval embargo on Saudi Arabia, while President Trump warns Iran "will pay" for the deaths of US soldiers. And Novartis reaffirms its guidance after beating on the top and bottom lines, with second quarter net sales coming in at almost 14-and-a-half billion dollars.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Andy Burnham is set to enter No. 10 later today to become the UK's fifth prime minister in 4 years. We are live at Downing Street for the latest. Brent crude surpasses $90 per barrel, up 2.9 per cent in session as the U.S. targets Iran for a ninth consecutive night. Three U.S. troops have been confirmed dead following Iranian retaliatory strikes in Jordan and Iraq. Ryanair posts a miss for the first quarter, down by more than a third on the year. Passenger revenue slumps and jet fuel spikes with prices trending lower in the current quarter. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Asian markets suffer a sell-off as jitters over the AI rally persist Stateside. The U.S. hits Iran for a sixth consecutive day, targeting bridges in the south while Tehran retaliates with a barrage of missile strikes at U.S. positions across the Gulf. The handover process of power within the UK Labour party begins today with Andy Burnham set to take over as Prime Minister on Monday.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Taiwanese chip giant TSMC smashes another record with an 80 per cent surge in Q2 net profits on the building wave of demand for its AI processors. Further exchanges of fire between the U.S. and Iran in the Persian Gulf could reportedly prompt President Trump to expand operations in the region. Trump remains confident the conflict can be concluded in the near future. Sterling hits a yearly high despite reports incoming prime minister Andy Burnham is set to make Shabana Mahmood Chancellor of the Exchequer as Sir Keir Starmer attends his final PMQs. UK GDP for May ekes out growth of 1.3 per cent year-on-year. However, May manufacturing is down by 1.8 per cent year-on-year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Can keeping up with financial news actually make you a better investor—or just make you more confident about making bad decisions? Don and Tom dig into research on how markets react to news, why investors tend to overreact to splashy stories and underreact to boring numbers, and whether sophisticated traders can actually exploit those inefficiencies. Then, a caller nearing retirement asks how to build a conservative brokerage account to bridge the years before Social Security. Plus, the guys compare Avantis global ETFs with Vanguard's Total World Stock ETF, debate the value of factor tilts, and marvel at how quickly investors can pile billions into the latest hot investment idea.00:05 Can financial news make you a better investor?00:52 The illusion of being ahead of the market01:44 Can investors profit from company news?02:42 Are markets really efficient?03:33 What 6.7 million Reuters articles reveal about news04:40 How much financial news is actually predictable?05:06 Why investing based on headlines is a fool's errand06:18 Bad news, numbers, and investor underreaction07:06 Why investors overreact to ambiguous, high-attention news08:10 Investment strategies that ordinary investors can't realistically use09:02 Be skeptical of your reaction to splashy news09:36 Big news isn't always new information10:31 The factor zoo and the cost of complicated investing11:04 Can expensive strategies overcome their fees?12:28 Why diversified investors can mostly ignore the news13:32 Soccer, summer football, and Orlando's forgotten team14:10 Listener call: Building a retirement bridge account15:00 Retirement plans, Social Security, and a future inheritance16:28 How soon will the retirement money be needed?17:10 Matching asset allocation to short-term spending needs18:04 Using bonds and cash for retirement stability19:28 Is it okay to hold bonds in a taxable brokerage account?20:43 A listener puts Don and Tom on his financial Mount Rushmore22:02 Halloween in Celebration and 1,000 pieces of candy22:46 Why did Avantis launch AVTM?23:58 AVTM versus Vanguard Total World Stock ETF24:06 Why Don and Tom prefer AVGE for a one-fund portfolio25:29 The astonishing rise of a semiconductor ETF26:45 Can VT plus AVGV replicate AVGE?27:06 Why a 20% value tilt may not be enough28:33 Factor investing, expenses, and expected returns29:30 Tom returns from Greece and is ready for callsQuestions? Comments? Click!

ASML smashes Q2 estimates and hikes its FY guidance as huge A.I. demand offsets disappointing performance in the Chinese market. President Trump reverses his call for fees on tankers leaving the Strait of Hormuz under U.S. naval protection following investment pledges from GCC nations as a means of compensation. U.S. CPI slows more than expected as energy prices fall. Newly appointed Federal Reserve Chairman Kevin Warsh makes his first Congressional appearance and promises to keep his position independent from the White House while bringing down inflation. In luxury news, Richemont enjoys a 20 per cent boost in sales, beating estimates from Q1 with strong growth seen across the Americas and Asia.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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The U.S. and Iran trade strikes for a third consecutive night with President Trump declaring American forces are blockading the Strait of Hormuz and demanding a 20 per cent levy on all cargo. Trump says he remains positive on being able to reach a peace deal with Tehran. The renewed conflict pushes Brent to its biggest one-day surge since the Covid pandemic. The UK and Switzerland sign a services trade deal ahead of Rachel Reeves' last Mansion House speech under Keir Starmer's premiership. We speak top Trade Minister Chris Bryant who predicts the incoming Burnham government will seek ever-closer ties with the European Union.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crude prices rise as the U.S. and Iran exchange fire with both sides claiming control over the Strait of Hormuz. SK Hynix shares fall in Asian markets following the chip maker's $26bn U.S. ADR listing. Tech selling and Middle East uncertainty push Asian equities lower and trigger circuit-breakers on South Korea's KOSPI. European futures are also in the red following a four-day winning streak. Nippon Paints offers to buy Akzo Nobel's decorative paints arm for €7.5bn following a previous rebuttal for the Dulux-maker's entire business.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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SK Hynix's U.S. listing raises $26.5bn with investor demand said to be seven times oversubscribed. The Nasdaq listing is the largest by a foreign company on Wall Street. Technical talks between Washington and Tehran are ongoing despite this week's tit-for-tat attacks. Crude is set to break a four-week losing streak with the recent tensions threatening to trigger concerns about supply from the Gulf. In Germany, Volkswagen cuts capacity and slashes its model line-up in half but pulls back from announcing 100k job cuts as it faces worker and union protests at its car plant in Zwickau. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. and Iran exchange fire for a second day with President Trump threatening to increase the intensity of airstrikes. Kuwait and Bahrain suffer retaliatory attacks on U.S. bases while Qatar upgrades its security alertness. Speaking at the NATO summit, President Trump tells CNBC the conflict will not escalate into all-out war, insisting Washington's objective is to prevent Tehran obtaining a nuclear weapon. Despite Trump's declaration the MOU with Iran is over, markets remain sanguine. However, Brent nudges closer towards the $80-mark.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. targets Iran with fresh airstrikes and revokes its license to sell crude oil after attacks tankers in the Strait of Hormuz. In response, Iran fires missiles at U.S. bases in Bahrain and Kuwait. We are live at the NATO summit in Ankara where President Trump again raises the Greenland question and threatens to pull all troops out of Europe over allies' defence spending. However, NATO Secretary-General Mark Rutte tells CNBC Trump's pressure on alliance members over funding has delivered big results. European leaders concur that spending into the bloc must be increased as the war in the Gulf has left the alliance on high alert while the Ukraine conflict nears a pivotal moment.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.