Thursday has thus far been the slowest and most sideways day since February 24th, before the start of the Iran war. A lull in war-related developments is likely helping. While there are plenty of isolated headlines, the only thing the market really cares about is the timeline for the war to be over. As such, the present ceasefire is a sort of limbo that's clearly better than peak tension in late March, but not an "all clear" to jump back in the market (unless it's the stock market, apparently). There are a few economic reports this morning, but no market reaction.
Token Support in Bonds After Oil Drops Overnight
It’s a straightforward morning in the bond market. We’re not seeing any of the sorts of “unseen hand” trading that accounted for the timing of yesterday’s pre-market weakness. We simply have oil prices erasing about half of yesterday’s rise. Bond …