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Trump Vows Iran Will Pay for Deaths of US Soldiers
US President Donald Trump vowed Iran 'will pay' after three American soldiers were killed, as US forces struck Iranian targets, according to Bloomberg.
CLO Equity Tranches Post Worst Quarter Since 2020 Pandemic Crash
Collateralized loan obligation equity tranches fell 15% in Q1 2026, marking their second consecutive quarterly loss and the steepest decline since the 2020 pandemic selloff, signaling growing stress in the riskiest corner of the credit market.
US Senate Advances Bill to Impose Tariffs on Russian Oil Buyers
Senate Majority Leader John Thune announced that a Russia sanctions bill could reach the Senate floor soon, authorizing President Trump to impose tariffs on countries that continue purchasing Russian oil.
Trump Vows Iran 'Will Pay' as Oil Markets Spike on Strait of Hormuz Tensions
President Trump threatens Iran over the deaths of three U.S. soldiers amid ongoing airstrikes, while a push for a new ceasefire by Qatar and Pakistan fails to calm markets. Brent crude trades near $89 a barrel on supply disruption fears from the Strait of Hormuz.
North Korea Foreign Minister Meets Putin in Moscow, Holds Strategic Talks
North Korea's foreign minister met with Russian President Vladimir Putin in Moscow on July 19, followed by a third round of strategic talks with his Russian counterpart on July 20. Both sides reaffirmed mutual support on key issues, including Ukraine and North Korea's sovereignty.
U.S. to Impose 50% Tariff on Many Canadian Goods from Aug. 2026
The United States will impose a 50% tariff on a broad range of Canadian goods, including some USMCA-covered products, effective August 19, 2026. Energy, potash, and critical minerals are exempt, with the administration citing Section 338 and alleged Canadian discrimination in alcohol and dairy policies.
Trump Orders 50% Tariffs on Canadian Goods, Effective in 30 Days
President Trump has signed orders imposing 50% tariffs on a wide range of Canadian goods, set to take effect in 30 days, per The New York Times.
Trump Imposes Additional 50% Tariff on Canadian Goods
President Trump has signed three proclamations imposing a 50% tariff on a range of Canadian imports, citing trade discrimination under Section 338 of the Tariff Act of 1930. The tariffs take effect in 30 days.
AI Boom Widens Employment Gap for Young Software Developers
Since ChatGPT's launch in November 2022, employment among software developers aged 22-25 has fallen 23%, while those aged 41-49 saw an 18% increase, creating a 41 percentage point gap.
U.S. CENTCOM Launches New Strikes Against Iran to Degrade Military Capabilities
The U.S. Central Command announced a new round of strikes against Iran at 4pm ET, aimed at degrading Iranian military capabilities used to attack commercial shipping in the Strait of Hormuz.
Global Stocks Fall as US-Iran Tensions Spur Risk Aversion
World equity markets declined as renewed US-Iran tensions fueled risk aversion, while oil prices remained volatile near $83/barrel. Higher energy prices revived inflation concerns, pushing Treasury and UK gilt yields higher and reducing expectations for near-term rate cuts.
Saudi Arabia Condemns Houthi Maritime Embargo, Rejects Siege Claims
Saudi Arabia has condemned the Houthi-announced maritime embargo and rejected claims that the kingdom is imposing a siege on the Yemeni people, reaffirming its support for Yemen's internationally recognized government.
Brent Surges on Geopolitical Risks, Societe Generale Says
Societe Generale analysts report Brent crude prices have rallied due to heightened geopolitical risks, including US-Iran tensions and Houthi blockade threats. Crack spreads in Asia and the US have outperformed as refined product markets remain tight.
Trump Signs Executive Order on Domestic Sourcing for Defense Contractors
President Trump signed an executive order requiring defense contractors to prioritize domestic products and map supply chains for critical minerals and components in weapons systems, while making waivers for banned foreign materials harder to obtain.
Chinese AI Models Challenge US-Led Economics – Deutsche Bank
Deutsche Bank strategists note that Chinese AI models are rapidly matching US capabilities at lower cost, potentially shifting the economic landscape.
Israeli Finance Minister Advocates Conquest and Settlement of Gaza
Israeli Finance Minister Bezalel Smotrich stated that if a decision is made to conquer Gaza and settle it as part of Israel, that will happen, representing absolute victory beyond defeating Hamas.
Air France Suspends Flights to Riyadh, Dubai on Security Fears
Air France has suspended flights to Riyadh through July 25 and Dubai through July 28, citing worsening Middle East security; Beirut flights remain suspended until August 2.
Iranian Ballistic Missile Strike Kills Two US Soldiers at Jordan Base
A ballistic missile strike hit prefabricated housing units at Jordan's Muwaffaq Salti Air Base, killing two US Army soldiers and leaving a third unaccounted for, according to WSJ.
Chinese Stock Margin Debt Plunges $11.7B, Biggest Daily Fall Since 2016
Margin debt on Chinese exchanges fell 2.8% on Friday, the largest daily decline since January 2016, as the Star 50 Index dropped 7.1% and the CSI 300 fell 3.6%.
Copper Speculators Rebuild Longs on Tight Supply – TD Securities
After five weeks of reduction, speculators are adding net copper length, supported by firm Chinese premiums, low arrivals, and LME inventory draws.
U.S. Steel Proposes 5-Year Union Contract with 18.2% Wage Hike and $4,000 Bonus
U.S. Steel has presented a five-year labor agreement proposal to the United Steelworkers union, including an 18.2% total wage increase and a $4,000 ratification bonus. Both parties will return to Pittsburgh for negotiations on August 10.
Ukrainian Firm Skyfall Tests Long-Range Strike Weapon with 600 km Range
Ukrainian defence company Skyfall is testing a new long-range strike weapon capable of at least 600 km, aimed at enhancing deep-strike capabilities against Russia. The firm is also developing an AI-enabled high-speed interceptor drone and has secured a Pentagon order for more than 2,500 drones.
Gold Holds Near $4,000 as Traders Weigh US-Iran Tensions, Fed Rate Hike Expectations
Gold remained near $4,000 an ounce as traders balanced escalating U.S.-Iran tensions against expectations of a Federal Reserve rate hike later this year, with oil-driven inflation adding pressure and mediation reports limiting further losses.
Iranian Attack Kills Two U.S. Service Members in Missile Strikes on Airbase
An Iranian missile attack on a U.S. airbase killed at least two American service members and struck prefabricated housing units. The strike was one of three separate attacks on the base within 24 hours last week, according to the Wall Street Journal.