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(1) On Tuesday, India's 10-year government bond yield rose to a five-week high. The benchmark 6.48% 2035 government bond closed at 7.0458%, marking the highest level since April 7 and up 1.4 basis points from Monday's close. The yield on the new 10-year 6.94% 2036 government bond increased by 2 basis points to 7.0033%. Waning hopes for a US-Iran peace agreement and rising oil prices outweighed the impact of April's inflation reading, which was lower than expected.(2) After Trump stated that the ceasefire agreement with Iran was on "life support," hopes for a deal diminished. A senior Iranian Revolutionary Guard Navy official declared that Tehran had expanded the definition of the Strait of Hormuz into a much broader "operational zone" than before the war, heightening concerns over oil supply. Modi called on citizens to conserve fuel and foreign exchange reserves through measures such as working from home and limiting travel. The rupee fell to a historic low of 95.4325.(3) India's retail inflation in April rose to 3.48% year-on-year, lower than the anticipated 3.8%, but still driven by surging food prices. Traders remain alert to the potential inflationary effects of a prolonged Middle East war on India, a net energy importer. The Chief Investment Officer for Fixed Income at Canara Robeco Mutual Fund stated that the inflation trend will depend on how long oil prices remain elevated and the extent to which the impact transmits to domestic consumers.

BlockBeats News, May 12th, SlowMist released a security monitoring report stating that the decentralized shipping project Aurellion was attacked. The attacker took ownership of the Diamond contract and transferred a total of 455,003 USDC from multiple authorized victim addresses.

ChainCatcher reported that Bakkt released its financial results for the first quarter of 2026, with a net loss attributable to the company of $11.7 million for the quarter, or a loss of $0.41 per share. Net profit for the same period last year was $7.7 million. Due to a decrease in crypto trading volumes, Bakkt's crypto services revenue dropped from $1.07 billion in the same period last year to $243.6 million, a year-on-year decline of 77%, but most of this was offset by crypto costs and brokerage fees. At the end of the first quarter, the company held $82.6 million in cash and had no long-term debt. Bakkt stated that it is shifting from crypto trading infrastructure to stablecoin payments and AI financial infrastructure, and completed the acquisition of Distributed Technologies Research on April 30, gaining access to an AI-native payment engine and a stablecoin compliance technology stack.