It's a trove of information for portfolio managers and macro-watchers to gauge, and trade policy news headlines are likely to continue breaking. On July 9, President Trump announced a surprise 50% levy on copper imports, followed by a steep 50% duty on Brazil. 1 Together, it put the materials sector in focus.

US wholesale inflation was muted in June, signaling that price pressures might not be building for producers and manufacturers.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

The Indian rupee is set to open weaker on Wednesday after June U.S. inflation data hinted at tariff-driven price pressures, prompting markets to scale back bets of Federal Reserve rate cuts and pushing the dollar and U.

Inflation is up, stocks are down, and more tariffs are on their way. Trump wants interest rates to come down but the direction of travel is making it less likely that the Fed will deliver the cuts he wants. It’s not clear whether Trump can extract himself from the policy cycle he has created.

The deadline for the start of Trump's heaviest tariffs has been delayed a few weeks, but a new report has nonetheless shown that inflation is once again on the rise.

While Tuesday's focus was on the tariff-related inflation hit to Treasuries, it's been a rough week for government bonds everywhere - especially in Japan as long-term yields there hit new highs this week ahead of the July 20 upper house election and related fiscal policy worries.

Consumer prices rose faster than​ in May, a potential sign that companies are starting to pass tariff costs on to consumers.