Tuesday’s Mini-Report, 8.18.26

Today’s edition of quick hits. * Here’s a general rule I find useful: When the bond market is a major topic of conversation, that’s bad: “Investor angst over stubborn inflation, unsustainable government deficits and rampant spending on artificial intelligence helped send borrowing costs to multiyear highs across the world this week. The yield on the 30-year U.S. Treasury bond rose on Tuesday to 5.3 percent, its highest level since 2007.” * The more Trump says the Strait of Hormuz is open, the more we’re confronted with evidence to the contrary: “Two ships in the Strait of Hormuz were attacked in recent days, killing at least one sailor, maritime officials said on Tuesday, as a declining number of vessels brave the dangerous passageway. Both vessels were hit by unknown projectiles as they p