Dallas Fed April manufacturing index -2.3 vs -0.2 prior Canada to set up $25 bilion sovereign wealth fund Iran says it’s looking into the US request for negotiations US sells 5-year notes at 3.955% vs 3.960% WI A big reason why US stocks have been so strong this year: Earnings…
Dallas Fed April manufacturing index -2.3 vs -0.2 prior Canada to set up $25 bilion sovereign wealth fund Iran says it’s looking into the US request for negotiations US sells 5-year notes at 3.955% vs 3.960% WI A big reason why US stocks have been so strong this year: Earnings are growing Markets: S&P 500 up 0.1% WTI crude oil up $1.72 to $96.11 Gold down $31 to $4676 US 10-year yields up 2.8 bps to 4.337% AUD leads, CHF lags It’s a huge week for central bank decisions and earnings along with the Iran war but that led to something of a paralyzed market on Monday. Trump was unusually quiet and so were the leaks around the war.
On the weekend, we learned that Iran had delivered some proposals about ending the war, then talking about the nuclear program. Virtually all the reports say it’s unlikely to be accepted by the US and Trump today met in the Situation Room with his security team. So far, we haven’t heard from him but the White House did say there were discussions and teased we could be hearing from Trump.
So we wait to see what he will do next as US forces amass in the Middle East. Iran has taken a tough line publicly but we don’t know what’s happening behind the scenes and the overall market is relatively sanguine with the tech market virtually indifferent as it continues to bid up chip names on AI enthusiasm. The oil market chopped higher but remained within the range of last Thursday-Friday while yields grinded higher.