Thursday, August 13

The U.S. long end remained the clearest market pressure point, with 30-year Treasury yields around 5.22%–5.24%—levels described in one report as the highest borrowing cost since 2001. The move reflects concern over deficits and debt supply as much as the latest inflation data, making the Aug. 13 30-year auction an important test of demand for duration.

The backdrop was a softer July CPI reading: headline prices rose 0.1% month over month after falling 0.4% in June, while annual inflation eased to 3.4% from 3.5%. Yet the data did not produce an immediate dovish signal; Reuters reported that the dollar gained and the yen weakened as traders pushed back the timing of the next Fed move. With July PPI and weekly jobless claims also in focus, the market’s question is whether cooler consumer inflation can overcome the Treasury’s growing supply burden.

War-related supply risk continued to support energy and airline prices, while ship traffic through the Strait of Hormuz fell near three-month lows amid U.S.-Iran tensions, CNBC reported. The significance extends beyond crude: constrained shipping can raise fuel-sensitive transport costs and feed into broader input prices, complicating the interpretation of an otherwise softer U.S. inflation sequence.

Markets were already reading the CPI backdrop through the lens of higher energy costs and Middle East risk. That creates an awkward policy mix: weaker underlying price pressure could support eventual easing, but a geopolitical premium in fuel and freight can keep inflation expectations sensitive to developments at a critical shipping chokepoint. The supply shock therefore remains a parallel constraint on the long-end and on rate-cut expectations.

India-based logistics software company Shiprocket’s ₹16.2 billion ($169.88 million) IPO was fully subscribed on its second day of bidding, Reuters reported. Retail and non-institutional investors led the demand, while the offering is backed by Temasek and Eternal.

The deal stands out because the supplied market flow contained no major U.S. megacap AI or semiconductor earnings or disclosure in the period. Its reception provides a concrete capital-markets signal amid otherwise macro-heavy trading: investor demand remains visible in a sizable technology-related listing, even as global attention is concentrated on inflation, rates, and geopolitical supply risks.