Welcome to Markets Desk, your midday read on what's moving the needle.
In the bond market, the Treasury selloff is finding some footing. AI-linked companies front-loaded their debt issuance earlier this year and are now stepping back from new supply, giving the market room to breathe. Yields have eased as that pressure valve releases, a reminder that nothing trends in a straight line.
Shifting to geopolitics with market implications, Zelenskyy confirmed that Starlink service has been fully restored in Ukraine after ten days of throttled connection speeds. That's not a trivial development — Ukraine depends on Starlink to operate drones and air defense interceptors, meaning battlefield capability was genuinely degraded during the outage. The restoration steadies a critical piece of wartime infrastructure.
And in crypto, a Circle shareholder has filed suit against President Trump in Washington federal court, alleging that UAE-linked deals — including a five-hundred-million-dollar investment in Trump's World Liberty Financial and a two-billion-dollar transaction settled in its USD one stablecoin — diverted business from Circle's USDC and generated up to eighty-two million dollars in annual revenue for the Trump family. The case puts presidential crypto entanglements squarely before a federal judge.
That's the tape. Markets Desk, signing off the floor.
