In this Monday edition of The Gentle Ledger, we walk through the key themes shaping July 28th, 2025. U.S. equities notch fresh record highs following a landmark U.S.–EU trade deal, while Treasury yields and the dollar climb in response. We explore market reactions to new tariff frameworks, diplomatic signals from U.S.–China and Russia, and Asia’s cautious open after a strong previous week. Commodities hold firm, crypto trades softly, and investors prepare for a pivotal stretch of earnings and central bank commentary. A calm yet comprehensive unwind to start your financial week with clarity and poise.