Hormuz Shock Raises Recession Risk As Retailers Sound Alarm On Consumer Stress

IRGC Says 'Smart Submarine' Operated By US Seized In Hormuz, Releases Images Iran's Islamic Revolutionary Guard Corps (IRGC) navy announced Tuesday it had captured an unmanned US submersible at the entrance of the Strait of Hormuz, a claim which corresponding photographs appear to back. The US side has yet to confirm the capture of the advanced naval drone, but some reports suggest it was "lost" after failing to operate properly. The IRGC statement called it a "complex intelligence and operational action." Tasnim identified the captured system is a Dive-LD in a report,...

Mole People? What Are These Individuals Doing In New York Sewers? Authored by Steve Watson via Modernity, New York City's vast underground network has become the unlikely focus of fresh alarm. Surveillance footage shared widely online shows teams of men lifting manhole covers in the middle of the night, descending into the sewers with flashlights, tools, and protective gear, then resurfacing hours later. Police have investigated multiple such episodes, particularly in Brooklyn, yet their public message remains the same: no known threat to safety. That reassurance has failed to settle nerves in a...

Hold The Horses By Rabobank There are five G10 central bank meetings scheduled this week and not a single policy move is expected between them. That said, the signalling of policymakers will be crucial. For each of the BoJ, Fed, BoC, ECB and the BoE, the market will be watching to see how rate setters are gauging the two sided the risks to growth and inflation implied by the Iran war. It remains Rabo’s view that the Fed will likely cut rates again this year. This outcome may have been made...