About this episode
New Fed Chair Kevin Warsh makes his debut with a hawkish hold and a notably short statement, wrong-footing markets that had hoped for a softer tone. Meanwhile, details of the U.S.-Iran deal suggest Iran may have come away with more leverage than expected, even as crude prices fall on Hormuz optimism. And a Manchester by-election could determine who becomes Britain's next prime minister.
Today’s recommended read: Gulf exporters' quest to bypass Hormuz will reshape the region, Ron Bousso
Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest
Read more from Amanda Cooper and Anna Szymanski
Produced by Eliza Davis Beard and Abisoye Adelusi
Sound engineering and music by Sebastian and Josh Sommer
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