Good evening, and welcome to Markets Desk.
Shell delivered a stunning second quarter, with profits more than doubling as soaring fossil fuel prices — driven by the ongoing Iran war — sent energy revenues surging well past analyst expectations. The result underscores just how dramatically geopolitical conflict continues to reshape the energy sector's bottom line.
Turning to the Fed, Chairman Warsh held interest rates steady, but the bond market pushed back hard — long-term Treasury yields jumped immediately after the decision, a clear signal that investors are losing confidence in the Fed's resolve on inflation. The credibility question now hangs over every upcoming policy meeting.
And over at BBVA, the Spanish banking giant reported first-half net attributable profit of six point zero five billion euros, an increase of eleven point one percent year over year. The bank also announced an extraordinary share buyback program, reflecting management's confidence in capital strength heading into the second half of two thousand twenty six.
That's the tape. Markets Desk, signing off the floor.
