Good morning, you're tuned in to Markets Desk, and here's what's moving the tape.
The federal deficit swelled sharply in July, hitting its highest single-month level since March of two thousand twenty one. Across the first ten months of the fiscal year, cumulative red ink has climbed to nearly one point eight trillion dollars, outpacing the same stretch last year and renewing pressure on bond markets watching Washington's borrowing trajectory closely.
Shifting to tech, Alphabet is under pressure this session as Nvidia's reported half-trillion-dollar AI financing arrangement with major Wall Street institutions rattles investors in custom silicon. The concern is straightforward — if Nvidia helps fund the broader AI buildout directly, hyperscalers like Google may find their proprietary chip strategies undercut before they fully mature.
And in commodities, arabica coffee futures are finding mild support after a significant earthquake struck Colombia on Monday, temporarily disrupting export flows from one of the world's premier growing regions. September arabica is trading fractionally higher, consolidating just beneath Tuesday's one-month peak, while robusta is moving in the opposite direction, down roughly one percent in London.
That's the tape. Markets Desk, signing off the floor.
