Global markets reacted to escalating US sanctions on Iran and fresh retaliatory tariffs from Canada against the US. Treasury yields remained in focus following a $69 billion 2-year note sale.
Oil prices saw volatility. Brent dropped below $90 on renewed Iran de-escalation hopes, then drifted higher as markets digested fresh US sanctions. The Hormuz crisis boosted the appeal of Tanzanian LNG.
Bitcoin surged above $80,000, with investors eyeing further catalysts. US consumer confidence fell in August, while home prices rose more than expected. Canada's trade tensions weighed on the Loonie.
Ad · Medium Rectangle 300×250
Watch for further developments in US-Iran relations and trade disputes.