Welcome to Markets Desk, here's what's moving the tape this hour.
With the Federal Reserve's next meeting just ten days out, the Trump administration is intensifying pressure on Kevin Warsh and Fed leadership to stand down on rates. The White House appears to be running a deliberate campaign to shape monetary policy from the outside, a move that raises serious questions about central bank independence and how markets will price the next decision.
Shifting to geopolitics and energy, the Strait of Hormuz situation is no longer a footnote. Iran has moved beyond targeting oil tankers and is now engaging U.S. Navy warships directly, prompting American retaliation aimed at raising Tehran's economic costs. Oil supply risk is real here, and traders watching crude will want to monitor whether this escalation begins to choke tanker flow through one of the world's most critical shipping corridors.
On the fixed income side, Schwab bond ETFs are pulling in billions as investors rotate away from equity volatility. The move reflects a broader defensive posture across portfolios right now, with rate uncertainty and geopolitical tension pushing capital toward duration and yield rather than growth and risk.
That's the tape. Markets Desk, signing off the floor.
