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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
By Air, Land and Sea
Russia ratcheted up its assault on opponents of Syrian President Bashar al-Assad’s regime with its first naval bombardment yesterday. The developments add up to a burgeoning Russian military campaign that is at odds with U.S. goals, compounding tensions between the two powers. It appears that Russian President Vladimir Putin is trying to take a page from his Ukraine playbook by keeping the West guessing about his plans, employing the military art of deception known in Russia as “maskirovka”, or camouflage. Meanwhile, U.S. officials said no U.S.-Russian cooperation was possible and that Washington would seek only narrow channels of communications to avoid unintended clashes among their rival military operations. And U.K. Defense Secretary Michael Fallon said in an interview yesterday that NATO should increase pressure on Russia to use its influence to rein in the Assad regime.
The Tide Turns
For years fiscal conservatives have worried that persistent public deficits make the U.S. Treasury market vulnerable to a change in sentiment by the foreigners who largely hold the debt. Now it looks as though that change may have happened as the Chinese and other central banks have started dumping U.S. government debt. China’s possessed $1.241 trillion Treasury debt at the end of July, down from a record of $1.317 trillion in November 2013, according to the latest data available from the Treasury. Additional sales by Russia, Brazil and Taiwan suggest an emerging-markets slowdown that is threatening to spill over into the U.S. economy. Previously, all four were large purchasers of U.S. debt. Still, many investors say they believe longtime holders such as China won’t sell bonds in a way that threatens to disrupt the market.
Hillary’s Pacific Rift
In a sharp break with the White House, Democratic presidential candidate Hillary Clinton has come out against a major trade agreement reached this week by the U.S. and 11 other Pacific nations. The move by Mrs. Clinton will likely make securing the deal harder, assuming she brings wavering lawmakers to her side, and raises the possibility that the matter will be punted beyond the 2016 elections. Asked about Mrs. Clinton’s announcement at a campaign event yesterday, former Maryland Gov. and Democratic presidential candidate Martin O’Malley said: “Wow! That’s a reversal!” Meanwhile, the Obama administration is touting cuts to tariffs as a key selling point as it begins the painstaking work of building domestic support for the deal.
Packing it In
Want to save a bundle on travel? Buy a bundle, as in a bundled vacation package. Our Middle Seat columnist Scott McCartney writes about deals that bundle hotel, airfare and car rentals in an attempt to lure do-it-yourself online consumers. With these packages, airlines and hotels can offer even deeper discounts to reel in more customers from particular cities, or entice them from a competing airline’s hub airport without starting a fare war. They might look at certain cities where customers tend to spend more. Longer stays may generate better prices; weekdays are often cheaper than weekends at resorts, but urban destinations with lots of business travelers will target weekend packages for deep discounts.
TOP STORIES
U.S.

Before Speaker Vote, House Conservatives Drawing Up Wish List

Alleged Oregon Shooter Discharged From Army After Suicide Attempt
WORLD

Iran’s Supreme Leader Bars Further Talks With U.S.

Merkel and Hollande Plead for Unity on Refugees in Europe
BUSINESS

UAW Strike Averted at Fiat Chrysler

SABMIller Rejects AB InBev Proposal
MARKETS

Markets Gain Confidence in China’s Yuan

Harvard, Goldman Sachs, Venture Capital…Fugitive
TODAY'S VIDEO
Russian Attacks in Syria a ‘Fundamental Mistake’
That Was Painless
Russia stepped up its attack on opponents of Syrian President Bashar al-Assad yesterday with its first naval bombardment. Why is the U.S. denouncing this strategy? WSJ’s Jason Bellini has #TheShortAnswer. Photo: AP.
NUMBER OF THE DAY
$50 billion
The likely value of a deal between Dell and private-equity firm Silver Lake to buy data-storage giant EMC that is currently under discussion—one that would rank as the biggest technology takeover to date and remove questions that have hung over EMC for more than a year.
QUOTE OF THE DAY
Based on what the president has learned, he believed that it was appropriate for the United States to do what we’ve done before, which is to acknowledge that a mistake had been made, to offer an apology.
White House press secretary Josh Earnest after Mr. Obama apologized for a deadly U.S. airstrike on a hospital run by Doctors Without Borders in northern Afghanistan.
TODAY'S QUESTION
Going back to our story above, what do you think of Mrs. Clinton’s reversal on the Pacific trade deal? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Khadeeja Safdar
READER RESPONSE
On yesterday’s question about the U.N. bribery case, Marc Connuck wrote from China, “I don’t think anybody should be surprised by these allegations. As an organization, the U.N. is used by countries (or blocs) to advance their own priorities. What easier way than by ‘greasing a few palms,’ if you will. I do not believe the allegations will end here. Sadly, bribery is common in many countries across the globe.” Slade Howell of North Carolina commented, “These international organizations, including the WTO, WHO, and U.N., operate under a moral standard and ‘rule of law’ different from ours.” And from California, Drew Kelley wrote, “When I think of the U.N. General Assembly, the vision that comes to mind is the Mos Eisley cantina scene in the original Star Wars—was George Lucas thinking of Turtle Bay when he penned that?”
This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.
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