Today, US stock markets surged, with the S&P 500 Index up 2.10%, the Dow Jones Industrial Average rising 2.30%, and the Nasdaq 100 Index gaining 2.19%. The rally was sparked by a more than 10% drop in crude oil prices following President Trump’s announcement that military strikes against Iranian energy infrastructure would be postponed for five days to facilitate talks aimed at resolving ongoing hostilities.
In related developments, global bond yields fell sharply today, with the 10-year T-note yield declining to 4.34% from an 8-month high of 4.44%. The International Energy Agency reported that the ongoing conflict is disrupting 7.5% of global oil supply, with predictions that crude oil prices could exceed $150 a barrel if the crisis continues. The Pentagon is reportedly preparing for potential ground troop deployments in Iran amidst escalating tensions in the region.
