Markets brief for Wednesday, May 13, 2026: the top narrative is Iran War Chokes Hormuz Flows to 60-Year Lows; Global Supply Chain Strain Highest Since 2022. Hormuz oil flows collapsed nearly 30% in Q1 2026 to lowest levels since the 1990s, as the Iran-Israel conflict disrupts tanker routes and fuel supply. Global supply chain volatility hit highest level since 2022 crisis; firms now stockpiling ahead of further inflation and shortages.
Iran War Chokes Hormuz Flows to 60-Year Lows; Global Supply Chain Strain Highest Since 2022
Hormuz oil flows collapsed nearly 30% in Q1 2026 to lowest levels since the 1990s, as the Iran-Israel conflict disrupts tanker routes and fuel supply. Global supply chain volatility hit highest level since 2022 crisis; firms now stockpiling ahead of further inflation and shortages.
US CPI and PPI Beat Estimates; Fed Rate Cut Delay Pressures Yields and Equities
Hotter-than-expected US inflation data in April, including core CPI and producer prices at fastest pace since 2022, reignite recession fears and force market repricing of Fed rate-cut odds, pushing 10-year Treasury yields to highest since July and dragging down tech stocks.
Hotter-Than-Expected US Inflation Stalls Rate-Cut Bets
US inflation data released on May 13 came in hotter than forecast, with producer prices climbing at the fastest pace since 2022 and core CPI still sticky. This has forced the market to reprice expectations for Federal Reserve rate cuts, pushing the terminal rate lower and roiling both equities and bonds.
- 01Iran-Israel conflict developments; any escalation or ceasefire would reprrice energyFrom: Iran War Chokes Hormuz Flows to 60-Year Lows; Global Supply Chain Strain Highest Since 2022
- 02Next OPEC+ meeting; output cuts may be needed to stabilize pricesFrom: Iran War Chokes Hormuz Flows to 60-Year Lows; Global Supply Chain Strain Highest Since 2022
- 03Consumer discretionary earnings in coming weeks; margin pressure from input costsFrom: Iran War Chokes Hormuz Flows to 60-Year Lows; Global Supply Chain Strain Highest Since 2022
- 04Upcoming CPI data: market expectations reset lower or higherFrom: US CPI and PPI Beat Estimates; Fed Rate Cut Delay Pressures Yields and Equities
- 05Fed speaker schedule: clarity on rate-hold messaging next 2 weeksFrom: US CPI and PPI Beat Estimates; Fed Rate Cut Delay Pressures Yields and Equities