Bonds & Stocks
A rebound in US stocks stalled as a slide in oil failed to keep boosting risk appetite, with a continuation of the war in Iran posing threats to global energy supplies. The S&P 500 fell 0.2%. The yield on 10-year Treasuries advanced two basis points to 4.12%.
Economy
Average five year fixed mortgage rates have surged above the 5% mark for the first time since November as homeowners pay a heavy price for Donald Trump’s war in Iran. The average rate rose from 4.98% yesterday to 5.03% today, the highest since October 20.
World
The North Atlantic Treaty Organization intercepted a ballistic missile fired from Iran toward Turkey on Monday, according to a statement by the Defense Ministry, raising the risk that the military alliance could be drawn more directly into the conflict in the Middle East.