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slash podcast offer, all lowercase. Today's number, $10 million.

That's how much the original Birken bag sold for at a Sotheby's auction last week, making

it the most expensive handbag in history.

The Tokyo-based buyer said they will not be reselling, thus redefining what it means to be the bagholder.

Money markets, Matt.

If money is evil, then that building is hell.

Welcome to Prof.G Markets, I'm Ed Elson.

It is July 16th. Let's check in on yesterday's Market Vitals.

The S&P and the Dow ended the day down, as investors digested the latest inflation data and a batch of earnings from banks.

Despite beating expectations, bank stocks mostly fell after the company's issued soft forecast for the rest of the year.

The outlier was Citigroup, which hit its highest level since 2008, after the bank reported

a 25% rise in profit and announced a buyback plan. And, as we predicted on Monday, trading was a major

highlight. J.P. Morgan and Citigroup saw increases of 15 and 16% in trading revenues respectively.

Meanwhile, a rally in chip stocks drove the NASDAQ to a record high. We'll talk more about that

later, and Bitcoin fell as the crypto bills we discussed on yesterday's episode hit a roadblock

in the House of Representatives. Okay, what else is happening? The June inflation report is out.

And while the data was roughly in line with Wall Street's expectations,

consumer prices did increase last month.

...