Fed Credibility in Question & META Smashed

MPC Markets Morning Call · Jul 29, 2026 · 17m

The Fed held rates but three officials dissented for a hike, and 30-year yields surged to 2007 highs as the bond market questions the central bank's inflation commitment. Meta got smashed 8% on a rare EPS miss while Microsoft rallied on a standout Azure cloud beat. The Nasdaq 100 entered correction territory, the SOX chip index posted its worst month in 30 years, and South Korea triggered circuit breakers again. The Iran war reignited overnight with a surprise missile attack, Trump promised retaliation, and oil surged 7-8% with Hormuz still shut. We cover the full earnings wrap including…