· Monday
Daily briefs generated by sembr, the open-source semantic intelligence engine · every item links to its sources
Bond markets do the tightening as swaps price a coordinated hike cycle; Goldman flips duration to hedge
The bond market is now being priced as the policy instrument — swaps price a globally coordinated hike cycle with long yields at multi-decade highs in the US, Europe and Japan — while the two most consequential new calls sit on opposite sides of the same trade: Goldman Sachs shifting long bonds from portfolio headwind to hedge at 12 months , and BofA arguing an October hike would be the most bullish event for risk assets .
Houthis seize Bab el-Mandeb as the Riyadh airport toll rises to 13 and Brent holds above $100
Escalation consolidated on the Red Sea front — Yemen's Houthis seized the Bab el-Mandeb and their weekend missile and drone barrage on Riyadh's King Khalid International Airport killed at least 13 people including a US citizen and injured more than 300 , while Iran said the strait will not reopen until its conditions are met and warned that vessels switching off identification systems would be treated as hostile targets — yet the barrel reversed early gains, with Brent touching $105.63 before easing to $103.91 and still holding above $100 .