Stocks & Bonds Shrug Off Oil Angst About Peace Talks; Bitcoin & Bullion Bid

Tl;dr: Last night's US proposal for a ceasefire (and subsequent rejection by Iran) were the drivers of the day's price action with the massive kneejerk lower in oil (higher in stocks) giving way to a slow bleed higher in oil. But... stocks and bonds did not track with oil's reversal. The dollar ended flat while bitcoin and gold managed strong gains.

Light macro today but what did print was a shocker with import/export prices dramatically higher than expected (RAM prices not helping). Overall, the US macro backdrop (especially hard data) is not supportive for stocks (absent the oil crisis)...

Oil