Rio Times Global Economy Briefing
The Big Three
The Dow took the baton. Falling oil drove the blue-chip index to a record 50,644.28 (+0.36%) as the chip-led rally paused and the S&P 500 eked out a marginal record.
Oil cracked again. WTI fell 5.55% to $88.68 after Iranian state media said Hormuz traffic would return to pre-war levels within a month — a report the White House called “a complete fabrication.”
The bond market held its line. The 5-year auction tailed to 4.182% from 3.955% prior, a second weak sale in two days even as the 10-year yield slipped to 4.48%.
