Canada July CPI 3.0% y/y vs +2.9% expectedUS Empire Manufacturing index 20.60 vs 11.00 estimateIran has set a deadline of "a few weeks" for full implementation of the MOUUS 30-year yields rise to the highest since 2007US August NAHB housing market index 35 vs 33 expectedMarkets:Gold up $42 to $4417US 10-year yields up 2.8 bps to 4.72%WTI crude oil up $2.03 to $84.43AUD leads, JPY lagsS&P 500 down 0.5%We're in the summer doldrums but it wasn't exactly dead today in markets. The main swing came after Iran's Fars news agency reported that the country had captured a UAE oil tanker. That led to a bid in oil that spilled over into bond and stock market sales. Compounding the worry was US 30-year yields hitting a fresh cycle high above 5.30% as part of a global bond selloff.The selling was concentrated in some megacap names with Meta and Microsoft down more than 3% but it wasn't an AI slump as Micron rose more than 4%.In FX, the mood was generally positive as risk trades climbed. There were some murmurs on the US-Canada trade talks and the pair hit 1.3845 before rising 30 pips from the lows to flat on the day as those countries negotiate ahead of an Aug 19 tariff 'deadline'. Gold was solid and is flirting with last week's highs as it rose $40. This article was written by Adam Button at investinglive.com.