Bonds & Stocks
A renewed advance in oil prices left stocks wavering while bond yields rose, with anxiety on Wall Street building just days ahead of key inflation reports. The S&P 500 was little changed. The yield on 10-year Treasuries advanced three basis points to 4.67%.
Economy
Oil rose as Iran and Oman remained short of a deal to reopen the Strait of Hormuz, while Houthi militants claimed an attack on a Saudi refinery near the Red Sea.
World
US President Donald Trump signaled he’s prepared to let economic pressure on Iran build rather than launch fresh military strikes to force a reopening of the Strait of Hormuz, even as the Islamic Republic reiterated that the conditions still aren’t in place to allow free passage through the key waterway.