Welcome to Markets Desk, your midday read on the stories moving money.
In the Strait of Hormuz, Iran has apparently seized a tanker belonging to a Greek billionaire, ratcheting up tensions in one of the world's most critical shipping lanes. President Trump has responded by threatening to bomb key Iranian sites if further seizures occur, sending fresh anxiety through energy markets already watching the region closely.
Shifting to housing, more than seventy percent of recent homebuyers purchased their homes expecting mortgage rates to fall, and that bet has not paid off. Many are now locked into payments analysts are describing as financially unsustainable, with no refinancing relief in sight. That dynamic is a quiet but serious drag on consumer balance sheets heading into the second half of the year.
And in the veterinary sector, a Morgan Stanley survey is raising flags about the long-term health of the industry. Practices are growing revenue by raising prices, but patient visits are actually declining as pet ownership becomes increasingly unaffordable for middle-income households. Analysts warn that pricing power built on a shrinking customer base is not a durable growth story.
That's the tape. Markets Desk, signing off the floor.
