The Fuse
Equity futures are back up this morning as the were Monday after a sharp turnaround from the opening price Monday evening. Futures have rallied after it was said President Trump is willing to end the war even if the Strait of Hormuz remains closed. That put a strong bid into an oversold market and like last week with high volatility the market will gap up on the open.
STOXX in Europe fell .1% even after the announcement above, down in France and Germany. FTSE added .1%, gold is higher by more than 1%, silver up 3% while crude oil is flat but well over $100 per barrel. The dollar index is flat. US treasury 10 yr yields are falling, down 2bps while stocks in Asia were lower. Japan off 1.6%, Hong Kong down .3% and Shanghai losing .8%.
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