Bonds & Stocks
A surge in oil prices amid vessel attacks in the Strait of Hormuz kept a lid on stocks and bonds, with relatively tame inflation data from before the outbreak of the war in Iran failing to boost sentiment. The S&P 500 rose 0.1%. The yield on 10-year Treasuries advanced three basis points to 4.18%.
Economy
Underlying US inflation slowed in February from a month earlier, offering some relief from price pressures before the war with Iran. The consumer price index, excluding food and energy, rose 0.2% from January.
World
The International Energy Agency is proposing a release of emergency oil reserves to contain a spike in energy prices driven by the Middle East war. The International Energy Agency is proposing a release of emergency oil reserves to contain a spike in energy prices driven by the Middle East war.