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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

The bizarre reason Michael Phelps can market his own brand at the Olympics

Yahoo Finance Video

If you've watched any of the men's swimming events at the Summer Olympics in Rio this week, you've likely noticed that Michael Phelps wears a swimming cap with a bold-type logo front and center that isn't on any other swimmer's cap: an MP, his initials. It is the logo of his own brand, licensed to the California swim gear company Aqua Sphere, and Phelps is permitted to show it off. But athletes in many of the other sports can do no such thing.