Asian equities opened the trading session with an average decline of 1.5%, followed by gains in Europe and the U.S., where the Dow led the way with a gain of nearly 2%, accompanied by a 2-4 basis point drop in yields in both Europe and the U.S. In commodities, crude oil fell 3% amid apparent progress in negotiations between the U.S. and Iran...

New attacks between the U.S. and Iran put markets on the defensive, with crude oil rising 2.5% (WTI $96, Brent $98), while global equities fell, accompanied by a rise in interest rates of up to 9 basis points in Europe and 6 basis points in the U.S.; U.S. interest rate futures continue to point...

Equity indices were in positive territory across major markets, led by Hong Kong’s Hang Seng and the Euro Stoxx 50, rising alongside European government bonds (yields down 4 basis points) and U.S. Treasuries, which closed marginally higher. In commodities, crude oil rose 1.5%, while metals and agricultural commodities...

Following reports that Iran would suspend negotiations with the U.S. over Israel’s attacks in Lebanon, Trump said the negotiations are moving forward “quickly,” causing further confusion in the market, which ended with oil up 5% after having risen as much as 8%, and Treasuries down (yields up 4–5 bps)...

Greater optimism regarding a deal between the U.S. and Iran led to a risk-on day for equities, with global indices rising, although trading volumes were low due to Monday’s holiday. Yields in Europe fell by 5–7 basis points, and in the U.S. by 2 basis points...

Marco Rubio said there are “positive signs” regarding a deal between the U.S. and Iran, lifting the market on a day that had been mostly in the red, with the Treasury yield curve ending at...

Oil prices fell 6% amid expectations of a deal between the U.S. and Iran—which Trump said is “very close”—with WTI closing at $98 (which also rolled over to the July contract) and Brent at $105, along with base metals and agricultural commodities...

Interest rates continue to rise globally, driven by a 5-9 basis point spike in the Treasury yield curve today, with the 30-year Treasury yield reaching 5.2%—its highest level since 2007—amid persistently high oil prices and inflation data pointing to further increases...

April inflation came in line with expectations at 0.6% for headline inflation, while core inflation stood at 0.4% (vs. 0.3% expected), and the annual rates of 3.8% for headline inflation and 2.8% for core inflation were 0.1 percentage points higher than expected...

U.S. equities continue to rise despite the deadlock in negotiations between the U.S. and Iran, with the Nasdaq up 1.6% (+6% YTD) and the S&P 500 up 1% (+4.2% YTD), despite earlier declines in Asia and Europe. The Treasury yield curve closed essentially flat, as did the European investment-grade sovereign yield curves; while...

At Kevin Warsh’s first confirmation hearing for the position of Fed Chair, he struck a “hawkish” tone, triggering rises in Treasury yields and declines in equities that ultimately totaled 0.6% after the cancellation of Vice President JD Vance’s trip to Pakistan to negotiate with Iran. The Treasury yield curve...

The market has become desensitized to the ups and downs of the conflict in Iran, largely brushing off what was effectively a breakdown of the agreement reached last week—which led the U.S. to seize an Iranian vessel attempting to pass through the Strait of Hormuz—with the biggest impact, of course, felt in the oil market, where prices rose 6%...