Betting markets are assigning a chance to European Union and Canadian tariffs that financial markets are not The day is setting up as a lackluster one for stocks, as more earnings head our way. The bond market got jolted on Tuesday after June consumer prices rose the most per month since the start of 2025, on worries tariff fallout is starting to show up. Read: S&P 500 stumbles after hitting intraday high - the downside of a narrow rally But though bonds reacted, Henry Allen, macro strategist at Deutsche Bank, warns "inflation risks are still being underestimated, with a remarkable complacency across key assets." ... (full story)