Hormuz Hopes Trump Warsh Worries Into Long Weekend: Stocks & Bonds Bounce; Bitcoin & Bullion Bruised

Tl;dr: New Fed Chair Kevin Warsh woke up to good news as a signed MOU and the resumption of Hormuz flows pushed oil prices down and took the market's mind off a hawkish Fed (stocks and bonds retraced yesterday's losses). The dollar kept rising (on the back of ugly Yen weakness), dragging down gold and bitcoin. OpEx removed some stabilizers for next week after long-weekend.

Trump cheered via TruthSocial: "OIL IS FLOWING... STOCK MARKETS ARE ROARING... YOU'RE WELCOME!"

Oil