This escalation of tensions between the U.S. and Iran led to a nearly 9% plunge in crude oil prices, with WTI closing at $81.94 and Brent at $87.81, triggering a bull flattening of global interest rates, with long-term yields falling more than short-term yields, compressing the yield curve’s slope, with declines of up to 4 bps in Europe and 3 bps at the long end of the...

A positive session for global equities amid a sharp rally in semiconductors and memory companies, leading to a 1.3% gain in the Nasdaq and a 0.9% gain in the S&P 500, following gains in Asia and, to a lesser extent, in Europe. In commodities, crude oil continues to rise, closing 2% above the price...

Global yields rose at the start of the week, led by U.K. gilts, which rose as much as 9 basis points following the confirmation of the new cabinet, followed by Treasuries, which rose as much as 5 basis points amid a new surge in oil prices, with WTI closing at $84 and Brent at $90—the highest level in five weeks...

Inflation in the U.S. in June was significantly lower than expected, with the monthly headline rate falling 0.4% and the core rate coming in at 0.0% (vs. -0.1% and +0.2% expected, respectively), while the annual headline rate was 3.5% and the core rate was 2.6% (vs. 3.8% and 2.8%, respectively). As expected, assets at the...

Trump announced yesterday that the U.S. had reactivated the blockade of the Strait of Hormuz, adding today that they would strike Iran hard today and tomorrow, causing a 10% rise in crude oil prices, with WTI returning to $78 and Brent to $83. In equities, U.S. indices fell, led by the Nasdaq, which dropped 1.55% amid a rise in...

The market continues to bet that this new confrontation between the U.S. and Iran will be limited and short-lived, with risk assets rebounding globally today: major stock indices rose 0.5–1.5%, accompanied by a 2.5% drop in crude oil prices (WTI $72; Brent $76), as well as...

Trump’s back-and-forth with Iraq resumed, with a U.S. attack on Iraqi forces in retaliation for their disruption of shipping traffic through the Strait of Hormuz, while Trump said he “doesn’t expect the war to start again; it will be quick.” Equities fell globally, though they were recovering from...

The Dow Jones Industrial Average Hits a High as Concerns Over Fed Rate Hikes Ease U.S. job growth, which was slower than expected, drove most stocks higher, while short-term bond yields fell amid expectations that the...

Most stocks are rising as Warsh says inflation risks are fading. Signs of economic strength and easing inflationary pressures boosted most U.S. stock markets, and Federal Reserve Chairman Kevin Warsh said...