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%...

The U.S. reached an agreement with Iran to suspend its nuclear program, triggering a new wave of risk-on sentiment, with European and Asian equities rising by more than 1% alongside a rally in bond yields, as European yields fell by up to 12 basis points and U.S. yields by 6 basis points. In the energy sector, WTI fell 11% to $84 and Brent fell 9% to $90; gold...