Disappointing news from the Middle East… quantum computing in the crosshairs… the answer to “buy and hold” today… how high will the bond vigilantes push the 10-year?… Luke Lango’s counterintuitive suggestion
As I write on Thursday, the markets are digesting a handful of headlines. Let’s do a brief recap.
West Texas Intermediate crude is up nearly 3% – back above $100 a barrel. This comes after Reuters reported that Iran’s Supreme Leader has ordered the country’s enriched uranium to stay inside the Islamic Republic – a direct obstacle to any deal with Washington.
The news suggests that despite President Donald Trump’s comment yesterday that “we are going to end that war very quickly,” the gap between negotiators remains wide.
In the meantime, the Strait of Hormuz stays severely disrupted, and the International Energy Agency warned today that global oil stockpiles will hit a “red zone” this summer if it doesn’t reopen before seasonal demand picks up.
