
The CPI Relief Is an Optical Illusion: What Warsh and Hormuz Mean for July
June CPI fell to 3.5%, but the ceasefire already collapsed. Gasoline is back at $3.86. Warsh gave no ground at Congress. What the data really means for July.
Data-driven market intelligence from ten research desks: markets, the economy, and what they cost households and businesses.

June CPI fell to 3.5%, but the ceasefire already collapsed. Gasoline is back at $3.86. Warsh gave no ground at Congress. What the data really means for July.

Bitcoin trades at $63,561, down 50% from its October 2025 peak. A $424.7M ETF outflow on July 13 led by BlackRock and Fidelity signals institutions are reducing exposure, not buying the dip.

June CPI tracks at 3.9% as gasoline prices ease, but core inflation at 2.85% refuses to break. The FOMC is trapped between a softening headline and a hawkish yield curve bear-steepening at the 30-year.

Tuesday's tape was a split-screen moment: five major banks beat Q2 estimates while the Nasdaq-100 fell nearly 2% on a semiconductor shock. The rotation from growth into value is no longer a thesis. Twelve months of data confirm it is already running.

Gold futures held $4,037/oz on July 14 after a 28% correction from the $5,586 peak. June saw $8.9 billion in global ETF outflows driven by Warsh's hawkish pivot and dollar strength from the Iran MOU. The $4,000 level is the battleground: a hold sets up recovery; a break risks $3,800. But Asian central bank flows are quietly building the contrarian case.

Gold fell 1.49% to $4,059/oz and silver dropped 2.92% to $58.10 as risk-on oil buying draws capital away from safe havens. The medium-term thesis remains constructive.

WTI crude surged 4.4% to $74.55/bbl as the Strait of Hormuz blockade hits month five. Analysis of the Hormuz premium, WTI targets, and energy sector plays.

Bitcoin trades at $62,771 under a dual overhang: US-Iran escalation and high-stakes macro catalysts this week. Two weeks of ETF inflows signal cautious institutional re-entry, but the $62,000 floor has to hold.

June CPI drops July 14 as Fed Chair Warsh testifies. With CPI at 4.2% and only 57K payrolls in June, the US faces classic stagflationary tension. Premium pre-event analysis.

The 10Y-2Y Treasury spread has returned to +36 basis points, ending a prolonged inversion. In a stagflationary environment defined by 4.2% CPI and 57,000 payrolls, where should bond investors position?

In February 2025, the most famous vault in America became the subject of an extraordinary public spectacle. President Donald Trump declared he would send his...

Before the markets opened on February 9, 2026, Kyndryl Holdings quietly filed three separate documents with the Securities and Exchange Commission. By noon, the world's largest IT infrastructure services company had lost more than half its market value (roughly $3 billion) in a single trading session. The CFO was gone. The General Counsel was gone. The corporate controller had been quietly moved sideways. And the SEC had already been asking questions.