Markets opened mixed today with equities under pressure while Treasuries steepened. Crude pushed higher, dollar softened, gold flat.
Geopolitical tension remains front and center—US-Iran strikes picked up again over the weekend. Trump signaled a response is coming, while Iran labeled it "limited and contained." US dismissed IRGC claims about a supertanker hit in the Strait of Hormuz.
On the macro side, Bessent's comments hint at policy moves favoring a stronger yen. Chinese PMIs came in below expectations—another soft data point from the region.
Meanwhile, $NVDA announced a $3.5B investment in MediaTek. Worth watching how that plays into the chip narrative.
Risk-off tone lingering, but not full panic mode. Keep an eye on energy and rates.
Geopolitical tension remains front and center—US-Iran strikes picked up again over the weekend. Trump signaled a response is coming, while Iran labeled it "limited and contained." US dismissed IRGC claims about a supertanker hit in the Strait of Hormuz.
On the macro side, Bessent's comments hint at policy moves favoring a stronger yen. Chinese PMIs came in below expectations—another soft data point from the region.
Meanwhile, $NVDA announced a $3.5B investment in MediaTek. Worth watching how that plays into the chip narrative.
Risk-off tone lingering, but not full panic mode. Keep an eye on energy and rates.