Breakfast Bites - Markets march higher
Powell testimony today; Ceasefire may not hold
Rise and shine everyone
Markets are trading higher today, and oil has given up almost all of the geopolitical risk premium.
Oil prices plunged 9% after President Trump said Iran’s strike on US assets in Qatar caused no harm, suggesting de-escalation. Prices dropped another 4% after Trump announced a phased ceasefire between Israel and Iran, confirmed by Qatari and Iranian officials, signaling an end to the conflict. Markets viewed this as a sign of reduced geopolitical risk.
