Wall Street concludes at half mast, worried about geopolitical tensions and inflation
April 15, 2024Oil Futures Pull Back After Iranian Attack on Israel
April 15, 2024Treasury yields regain momentum, as diminished geopolitical tensions allow investors to focus on economic data and fedspeak. The 10-year trades at 4.585% and the two-year at 4.951%. After Iran’s thwarted attack, Spartan’s Peter Cardillo says in a note that “while the markets brace for Israel’s retribution, earning’s and the macro news will likely relive markets geopolitical distress for now.” U.S. data this week are forecast to show signs of cooling, but investors have reasons to brace for upside surprises. Fed officials are expected to stick to a hawkish rhetoric. Markets price only one or two interest rate cuts by the Fed this year, starting in September.