"Ain't Over, 'Til It's Over...": Warsh Worries & Deal Doubts Trigger Oil Pump, Stocks Slump, Gold Dump

Tl;dr: two things seemed to be driving markets today - anxiety over the looming Iran ceasefire deadline (and on-again, off-again talks) and Fed Chair nominee Warsh's hearing (which leaned a little more hawkish than many expected). The result of all that (including strong macro data) was higher oil, higher bond yields, lower rate-cut expectations, lower stocks, and gold hammered.

Update (1610ET): TACO Tuesday after all... shortly after the market close, Trump put out a statement that he is unilaterally extending the ceasefire until talks conclude:

Macro