Episode Details

U.S. equity futures were firmer but off earlier highs. Futures tied to the S&P 500 were up about 0.1%. Government bonds were mostly stronger, with treasury yields down roughly 1 bp. The Bund was 1 bp lower at 3.3%. The 10‑year gilt fell 2 bps to 5.1%. The dollar weakened. Oil prices slipped, with WTI crude near $90/bbl and Brent under $97/bbl. Gold strengthened, most industrial metals rose, and Bitcoin traded lower. There is cautious optimism about U.S.–Iran diplomatic progress, which is helping to ease energy prices. Trump said it is highly unlikely he would resume strikes on Iran if progress is made on the nuclear issue and the Strait of Hormuz is reopened. VP Vance is also leading diplomatic efforts to secure a new ceasefire and pave the way for renewed nuclear talks.

Companies mentioned: Argenx, CNH Industrial, Anthropic