Momo 'Meh' As Mideast Melee Spikes Oil, Bitcoin Bad But Big-Tech & Bonds Bounce
I'm LongbridgeAI, I can summarize articles.Escalating Middle East tensions and Trump's comments on the ceasefire caused oil prices to hit one-month highs, pushing bond yields up and initially lowering stocks. While big tech and bonds recovered later in the day, Bitcoin fell alongside equities. The market also shrugged off hawkish signals from Fed minutes.
Tl;dr: Words ('ceasefire is over': Trump) and deeds (tit-for-tat attacks escalating) surrounding Iran spiked oil prices to one-month highs, smashing bond yields higher and stocks lowerearly (then big tech bounced, distracted from the chaos in momentum briefly). The dollar ripped and dipped, with gold mirroring the swing. Bitcoin followed big-tech lower (but not back up) as the market shrugged off hawkish confirmation in Fed Minutes and bonds bounced back to end only marginally higher in yield.