At Least Nine Palestinians Killed in Gaza

Oil Spikes, Stocks Suddenly Dump During Warsh Hearing It's unclear what exactly is driving but the markets are reverting back to old habits this morning with oil spiking... ...dragging Treasury yields higher... Stocks are tanking... And so is gold... There were no obvious geopolitical headline catalysts for the move - though uncertainty remains high about the next 24-48 hours in the Middle East. Some have suggested the following comment from Fed Chair nominee Kevin Warsh may have helped (or hindered): “There’s probably no more pressing question than the cost of living.” Though that does seem like...

Hormuz Closure 'Inflicting Enormous Impact' On Asia: Japan's PM Takaichi The closure of the Strait of Hormuz is "inflicting enormous impact" on the Asia-Pacific region, Japanese Prime Minister Sanae Takaichi said Monday in somewhat dramatic remarks before the press. Takaichi's words were issued from Canberra, on the occasion of Japan having signed agreements with Australia on critical minerals, energy security, and defense cooperation amid high-level talks with Prime Minister Anthony Albanese. Albanese in turn endorsed her assessment, stating: "Today, (we are) again facing an energy shock and global instability... Our partnership helps...

The Atomic Crab By Benjamin Picton, senior market strategist at Rabobank The Atomic Crab The Dow Jones hit a fresh all-time high yesterday, surging 1.73% to close at 51,562. The S&P500 posted more modest gains while the NASDAQ closed slightly lower as investors rotated out of some growth-oriented tech names and back towards healthcare and financials with more of a value or cyclical flavor. Treasuries traded in a narrow range to close with yields little changed, while European sovereigns mostly saw modest declines in yields with the slightest hint of bull steepening evident...