Bonds & Stocks
A possible de-escalation in the Middle East conflict rippled through markets, with oil falling and stocks rising as President Donald Trump said he’d postpone strikes on Iranian energy infrastructure after what he described as productive talks toward ending hostilities. The S&P 500 rose 1.4%. The yield on 10-year Treasuries declined one basis point to 4.37%.
Economy
Oil fell sharply, posting one of the biggest intraday price swings on record, after President Donald Trump said his team held discussions about ending the conflict with Iran, though Tehran denied any such dialog. Brent crude fell as much as 14% shortly after Trump made the announcement on his Truth Social network, sliding to $96 a barrel.
World
President Donald Trump put his threat to destroy Iranian power plants on hold for five days after what he described as “productive” talks with that country, sending oil down sharply and stocks soaring.