Stocks & Rates Higher On The Week Amid Warsh, Waller, & War-Worries Into Long Weekend

Tl;dr: Yet more US/Iran/Pakistan headline roulette running the show today ahead of a long-weekend with consumer sentiment at record lows as stocks test record highs. Oil down, stocks up (8th straight week), but short-end yields up on the week (yield curve flattening) thanks to Fed Waller's flip-flop today (trumping Warsh's swearing-in). The dollar and gold ended the week largely unchanged while bitcoin tumbled near one-month lows.

Market sentiment remains resilient - almost defiant - as markets want to lean into hopes of a US-Iran de-escalation and chase a broader (AI-based) risk rally...

Oil