Bonds & Stocks
A rally in oil drove stocks lower as a turbulent weekend in the Middle East cast doubt on prospects for peace talks between the US and Iran before their fragile ceasefire deal expires on Tuesday. The S&P 500 fell 0.2%. The yield on 10-year Treasuries was little changed at 4.24%.
Economy
The International Monetary Fund trimmed its global growth forecast for 2026 as the oil-price shock from war in the Middle East rippled across economies worldwide. The global lender sees the world economy expanding 3.1%, down from a January forecast of 3.3%, according to its World Economic Outlook. The IMF also raised its inflation estimate, reflecting higher energy and food prices.
World
Iran expressed reluctance to send diplomats to Pakistan for a second round of peace talks after the US maintained its blockade of the Strait of Hormuz and seized an Iranian ship. Tehran has no plans to attend the potential negotiations — which would aim for an agreement to formally end the seven-week conflict.