Reuters Morning Bid

Bond markets push Treasury Secretary Scott Bessent's buyback strategy to the limit, as yields climb back toward recent highs. U.S. President Donald Trump promises an economic crackdown on Iran as oil prices head for a weekly gain. Plus, Walmart shares tumble after the retailer posts its weakest U.S. sales growth in more than six years.

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Today's recommended read: Solar gives Hungary's power system vital cover from nuclear fallout by Gavin Maguire

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U.S. Treasury Secretary Scott Bessent expands bond buybacks to calm a market rattled by rising borrowing costs. Meanwhile, America's debt tops $40 trillion for the first time, underscoring the scale of its funding challenge. Plus, Moderna reports a cancer vaccine breakthrough and sends its shares soaring.

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Today's recommended read: US relies on tactics, not strategy, to calm angry bonds by Mike Dolan

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Bond yields hover near multi-decade highs as investors demand more compensation for holding long-term government debt. U.S. President Donald Trump delayed planned tariff hikes on Canadian goods as negotiations on a trade deal continue. And, Chinese robot maker Unitree surges by 600% in its stock market debut, extending investors enthusiasm around AI.

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Today's recommended read: Three midweek thoughts - dodging AI, uber bulls and intervention flub, by Mike Dolan

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Iran says it is shifting to a "fully offensive" military posture sending Brent crude back above $90 a barrel. Thirty-year bond yields are hitting multi-year highs as markets question the outlook for inflation. Tech giants are pouring money into AI infrastructure even as questions about returns remain unanswered.

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Today's recommended read: Even as market clouds clear, AI investment anxiety still gnaws, Mike Dolan

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A surprise drop in U.S. retail sales has investors asking whether the American consumer is finally losing steam. As Walmart, Home Depot and Target prepare to report earnings this week, markets look for clues on whether shoppers are merely taking a breather or pulling back more decisively. Meanwhile, President Donald Trump argues higher gasoline prices are worth paying for the war with Iran, while rising Japanese bond yields highlight growing global concerns about government borrowing costs.

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Today's recommended read: Smart tugs and trucks that don't sleep. Automation rewires US transport, Gavin Maguire

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Produced by Eliza Davis Beard and Abisoye Osundairo.

Sound engineering and music by Sebastian and Josh Sommer.

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