"Treasury Bonds: Yields were up across the Treasury curve as sellers returned on Thursday. After the positive inflation reports this week, which sparked a buying surge, the labor market news, and the cooling of geopolitical issues around the globe, contributed to selling, as interest rate cuts, which some thought could come in March, may be pushed out to June. The 30-year long bond closed the day at 4.80%, while the benchmark 10-year note was last seen at 4.17%"
"Oil and Gas: Prices across the energy complex were hammered on Thursday as both of the primary benchmarks closed down over 4%, ending a five-day winning streak for the black gold. The combination of President Trump dialing back the aggressive military rhetoric towards Iran and the recent return of concerns about oversupply was among the main reasons for the meltdown. The last trade for Brent Crude was reported at $63.78, down 4.12%, while West Texas Intermediate closed at $59.28, down 4.42%."
Futures rose as U.S. stock indices bounced back strongly after a two-day sell-off, led by the Dow's 0.60% gain to 49,442, the S&P 500's 0.26% rise to 6,944, and the Nasdaq's 0.25% advance to 23,530. The Russell 2000 gained 0.86% to 2,674 and is up 7.26% year-to-date. Positive fourth-quarter earnings from Goldman Sachs and Morgan Stanley, steady and declining inflation readings, and stronger labor market data fueled the rally. Treasury yields climbed, with the 30-year at 4.80% and the 10-year at 4.17%, as markets pushed potential rate cuts toward June. Brent and WTI plunged over 4% amid eased Iran tensions and renewed oversupply concerns.
Read at 24/7 Wall St.
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