Good evening, this is Markets Desk with your top stories.
U.S. Treasury yields are posting their sharpest climb in a generation, rattling global bond markets with startling speed. The more than thirty trillion dollar market for American government debt is under sustained pressure, raising borrowing costs across the economy and forcing investors to reprice risk at every level of the capital stack.
That bond market stress is arriving alongside a fresh geopolitical shock. UK Prime Minister Burnham says Iran played a part in an incident at RAF Fairford, the base that has served as the American Air Force's European command outpost and the launch point for recent U.S. strikes on Iranian missile sites. Markets will be watching any escalation closely given the region's energy implications.
And on the pharma tape, Eli Lilly delivered detailed Phase Three results for Foundayo, its oral GLP-one pill known as orforglipron. The ACHIEVE-four trial showed the drug delivered cardiovascular safety alongside sustained improvements in blood sugar, body weight, and broader cardiometabolic measures — a meaningful data point for Lilly as it looks to expand its footprint in the diabetes and obesity space beyond injectable therapies.
That's the tape. Markets Desk, signing off the floor.
