Welcome to Markets Desk, your midday read on the stories moving markets and policy.
The Strait of Hormuz is heating up despite a nominal ceasefire. Iran launched drones at Bahrain over the weekend, targeting a base home to the United States Navy, and was likely behind a separate attack on a commercial vessel. Washington struck back through Central Command, and with roughly twenty percent of global oil supply transiting that waterway, energy markets are watching every exchange closely.
Shifting to monetary policy, the Federal Reserve Bank of Atlanta's search for a new president has taken on fresh significance. The process was paused in the spring and has now resumed under the influence of incoming Fed Chair Kevin Warsh, who will effectively have a hand in selecting the official who votes on interest rates in two thousand twenty seven. That kind of structural influence over the Fed's regional voting bloc is worth tracking carefully.
And on the energy side, solar has officially surpassed coal as an electricity source in the United States for the first time, a milestone decades in the making. The shift carries real implications for utilities, grid infrastructure investment, and the longer-term trajectory of fossil fuel equities as capital continues rotating toward renewables.
That's the tape. Markets Desk, signing off the floor.
