Market Musings 150424: All eyes on oil and gold
Market Musings 150424: All eyes on oil and gold 5 Charts of the week Oil and gold will give us clues as to the impact of any escalation of the Middle East conflict, now including Iran 5 Charts to Consider
1. 10-year US bond yield rises, threatening stock market valuations The higher-than-expected March US CPI print, combined with a surprisingly weak US Treasury bond auction, both conspired to push US 10-year bond yields higher, to 4.55%. If bond yields move closer to 5%, this is likely to put US stocks under more pressure, which could prompt a correction. Source: tradingview.com
2. Brent crude oil price holds steady at $90/barrel despite Iranian attack on Israel No move (yet) higher in the geopoltical risk premium in the oil price despite the Iranian missile + drone attack on Israel. Key will be the level of any Israeli retaliation, with the US noticeably urging Israel not to overreact to this telegraphed strike. President Biden is keen not to see US households impacted by a further surge in gasoline prices, which could hurt his chances of re-election.
Source: https://www.stockopedia.com/content/market-musings-150424-all-eyes-on-oil-and-gold-994673/
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