Welcome to Markets Desk, here's what's moving markets right now.
Since the outbreak of the US-Iran war, sovereign borrowing costs across the G7 have climbed sharply, adding tens of billions to debt servicing bills for governments already stretched thin. Higher yields mean every new bond issuance costs more, compressing fiscal space at exactly the wrong moment for economies navigating wartime uncertainty.
Shifting to equities, CVS Health is drawing renewed conviction on Wall Street despite a bruising stretch for the stock. The company posted triple-digit earnings growth in the second quarter, and analysts argue the valuation still hasn't caught up to the underlying improvement in the business, making the risk-reward case harder to dismiss.
And in the autonomous vehicle race, Amazon's Zoox has cleared fresh regulatory hurdles and is expanding its robotaxi footprint, but the competitive math remains stark. Waymo continues to widen its operational lead, and while Zoox is a relatively small piece of Amazon's broader story, Tesla carries a very different burden — its premium valuation rests heavily on autonomous promises that rivals are now delivering in the real world.
That's the tape. Markets Desk, signing off the floor.
