
- In today’s CEO Daily: Diane Brady talks to Navios Maritime Partners CEO Angeliki Frangou.
- The big story: The U.S. now has a “Strategic Bitcoin Reserve.”
- The markets: Stocks sink as the tariff picture changes by the hour.
- Analyst notes from UBS on Trump’s auto tariff pause, Barclays on uncertainty, Bank of America and Saxo on the massive German bond sale, and EY on stagflation.
- Plus: All the news and watercooler chat from Fortune.
Good morning. If you want some insight into the choppy waters of global trade, talk to a leader in the shipping industry. Since the death of Aristotle Onassis in 1975, they have toiled in relative obscurity. But in the new era of tariffs, shifting supply chains, and geopolitical instability, their work—keeping Fortune 500 companies connected—has given them a higher profile.