Daily Briefing — July 14, 2026 | Cooler CPI, Hotter Oil, and the AI Trade Unravels

U.S. inflation cooled more than expected in June, with the Consumer Price Index falling to 3.5 percent annually and dropping 0.4 percent month-over-month. The data slashed Fed rate-hike odds to just 10 percent and sent bond yields and the dollar lower. But the relief was short-lived for some. Oil surged for a second day as the U.S. reimposed its naval blockade of Iran and attacks in the Strait of Hormuz intensified, pushing Brent above $85 a barrel and reigniting global inflation fears. Meanwhile, the AI hardware trade continued to unravel, with SK Hynix plunging more than 20 percent over two days as...