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Treasury sell-off continues after divided Fed holds interest rates steady CNBCThe bond market to Kevin Warsh: What are you doing about inflation? CNNUS borrowing costs hit 19-year high as Fed holds interest rates The GuardianAsian Stocks Set to Fall, Fed Keeps Rates on Hold: Markets Wrap Bloomberg.com
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Middle East crisis live: Jordan says it foiled Iranian missile attack as US launches ‘heavy' strikes on Iran after pause The GuardianLive updates: US renews strikes on Iran as widening war pulls in more countries CNNUS military says it hit dozens of Iran's IRGC targets ReutersU.S. strikes Iran after surprise missile attack, dashing hopes of de-escalation CNBC
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Iran War Live Updates: U.S. and Saudi Airstrikes Drag More Countries Into Fighting nytimes.comIran war updates: Pezeshkian urges Iranians to ‘stand firm' against ‘enemy' Al JazeeraIran Update Special Report, July 28, 2026 Institute for the Study of WarUnited States begins strikes against Iran, explosions heard across region The Jerusalem Post
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Decline could erode ability to supply Asian and European markets dependent on supplies from the Middle East
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Attacks on ships in the Strait of Hormuz and the Bab al-Mandab strait are disrupting the passage of oil tankers in the Persian Gulf and the Red Sea.
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Starbucks posted its fourth straight quarter of same-store sales growth, as it continues a turnaround under CEO Brian Niccol.
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The economic banishment of all things Russian. Tariffs on Chinese imports. Pandemic-caused shortages of computer chips, bicycles, garage door parts and other imports. Brexit.
Just about everywhere you turn, you can see that the tectonic plates of the global economy have stopped converging and are starting to pull apart in ways that will determine new winners and losers, says Ethan Harris, head of global economics for Bank of America Securities. "Deglobalization is a gradual process, and in the long run, very important" to investors, he says, because it will have profound impacts on corporate profitability.
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Globalization refers to the increase of commerce across borders. U.S. companies prospered for decades as new markets opened for their goods and labor costs plummeted thanks to overseas production. Strategists at BofA have estimated that over the past 20 years, globalization has contributed more than half of what has been a robust expansion in profit margins. Globalization has also helped to deliver low-cost goods to American consumers.
But now, says market strategist Ed Yardeni, the pandemic and spreading political and military conflicts have stretched supply chains past the breaking point, prompting companies to bring many operations closer to home. "Deglobalization was almost inevitable," Yardeni says. U.S. companies are starting to "reshore" production back to the U.S., "near-shore" it to neighbors such as Mexico, or "friend-shore" it to allies such as Vietnam.
Investment firm Piper Sandler counted more than 900 announcements of companies either building or expanding manufacturing facilities in the U.S. in the 12 months ending in May of 2022. In 2012, there were only about 100 such announcements. Over the long term, companies
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