Premium'Peace-Off, Peace-On' Headline Roulette Leaves Oil & The Dollar Down; Stocks, Bonds, & Bullion Bid
Tl;dr: Reports by Axios of a peace deal 'breakthrough' was enough (despite denials) to trump overnight fears as both sides escalated attacks in the roughest night yet since the 'ceasefire' began. The end result, oil lower (from overnight highs), dragging bond yields down and supporting stock gains (dash for trash). Rate-cut odds fell (mixed macro and peace) dragging the dollar down hard as traders rushed back into precious metals (but dumped bitcoin).
"They think it's all over..." but the market's reaction was underwhelming to say the least (priced in much?)