A new report out this week is revealing the potential impact of President Trump's tariffs on prices and inflation.

It's a trove of information for portfolio managers and macro-watchers to gauge, and trade policy news headlines are likely to continue breaking. On July 9, President Trump announced a surprise 50% levy on copper imports, followed by a steep 50% duty on Brazil. 1 Together, it put the materials sector in focus.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

US wholesale inflation was muted in June, signaling that price pressures might not be building for producers and manufacturers.

The deadline for the start of Trump's heaviest tariffs has been delayed a few weeks, but a new report has nonetheless shown that inflation is once again on the rise.

While Tuesday's focus was on the tariff-related inflation hit to Treasuries, it's been a rough week for government bonds everywhere - especially in Japan as long-term yields there hit new highs this week ahead of the July 20 upper house election and related fiscal policy worries.

Consumer prices rose faster than​ in May, a potential sign that companies are starting to pass tariff costs on to consumers.