From 'Too Quiet' To Turmoil: Oil Up, Tech Wrecked, Bonds & Bitcoin Erase Monday's Gains

Tl;dr: For the first time since the war began, today felt 'normal'-ish for the first few hours and then the headlines turned up to '11' with traders weighing US 'boots on the ground' with reports that Tehran is 'willing to listen'. Trump then appeared and dropped various tape-bombs, confirming "we've won" again. Cross-asset correlations also creaked with stocks and oil rising together at one point (and yields higher - ugly 2y auction). Stocks ended mixed (Small Caps only green), oil up bigly, gold was flat as the dollar rallied and bitcoin broke back below $70k after Clarity Act leaks made it clear bank lobbyists win.

Update (1630ET): Israel's Channel 12 TV is reporting that a ceasefire period of one month will be announced shortly, based on a mechanism that Witkoff and Kushner are working on.

Oil