SIFMA SmartBrief
M&A deals, SpaceX IPO boost bank fees | AI bond issuance tests investor appetite | Treasury two-year yield hits 2025 high amid Iran tensions
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July 13, 2026
 
 
SIFMA SmartBrief
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Morning Bell
 
Banks enter earnings season with momentum
Major US banks are expected to report strong second-quarter earnings this week, driven by trading, investment banking and resilient lending. Investors will focus on consumer credit quality, net interest margins, loan growth and capital markets activity for signs of the sector's outlook, while executives are also expected to discuss AI-related financing and broader economic conditions.
Full Story: CNBC (7/10), Bloomberg (7/12), MarketWatch (tiered subscription model) (7/12)
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M&A deals, SpaceX IPO boost bank fees
Financial Times (7/13)
 
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Industry News
 
AI bond issuance tests investor appetite
Tech companies are issuing record amounts of debt to finance AI infrastructure, straining demand in the investment-grade corporate bond market. Investors remain confident in the companies' credit quality but are growing more cautious as expectations for continued bond issuance weigh on prices and borrowing costs. Market participants are closely watching whether firms shift more funding toward equity as AI spending accelerates.
Full Story: The Wall Street Journal (7/12)
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Treasury two-year yield hits 2025 high amid Iran tensions
Bloomberg (7/13)
 
 
Primary dealers net short on corporate bonds for first time
Bloomberg (7/11)
 
 
Texas Stock Exchange aims to rival NYSE, Nasdaq
The Wall Street Journal (7/10)
 
 
Fraser advances restructuring plan at Citigroup
Financial Times (7/13)
 
 
Deutsche Bank's von Moltke eyes CEO roles after stepping down
The Wall Street Journal (6/25)
 
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Policy Roundup
 
Warsh's first testimony to offer policy clues
Federal Reserve Chair Kevin Warsh will deliver the Fed's Semiannual Monetary Policy Report to Congress this week as investors look for signals on interest rates, inflation and his plans to reform the central bank. His testimony comes ahead of the Fed's July policy meeting, with officials weighing whether persistent inflation and a resilient economy warrant higher rates.
Full Story: The Wall Street Journal (7/12), Financial Times (7/12)
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Senate agenda faces uncertainty after Graham's death
Politico (7/12), The Washington Post (7/13)
 
 
Fed pledges to maintain price stability amid rising inflation
Bloomberg (7/10)
 
 
OCC, FDIC urge banks to share data on illicit activity
American Banker (7/10)
 
 
Bipartisan housing bill becomes law without Trump's signature
American Banker (7/11)
 
 
CFPB delays layoffs, office return until new director is in place
Politico Pro (subscription required) (7/10)
 
 
 
 
Global Update
 
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Burnham eyes budget changes, public control of utilities
Bloomberg (7/12)
 
 
Foreign investors return to Indian equities
Bloomberg (7/13)
 
 
ECB's Moulin: AI could increase inflation volatility