Bonds & Stocks
A resurgence in technology companies powered a rebound on Wall Street, with stocks also rising as oil steadied after jumping the most since May amid fresh hostilities between the US and Iran. The S&P 500 rose 0.4%. The yield on 10-year Treasuries declined two basis points to 4.56%.
Economy
A few Federal Reserve officials in their most recent policy meeting said there was a case for raising interest rates, though they ultimately supported the decision to leave rates on hold. More generally, minutes of the Federal Open Market Committee’s June 16-17 meeting released Wednesday reflected growing concern among policymakers over inflation just as worries over the labor market slightly receded.
World
The US military attacked Iran for a second day and Tehran retaliated against American allies in the Persian Gulf, raising fears of a return to war after little progress in efforts to secure a diplomatic outcome.