Stock and bond markets experienced volatility as investors assessed news regarding the potential for a ceasefire in the Iran conflict, while oil prices rebounded. Trading was subdued following the Easter holiday, leaving the S&P 500 index without a clear trend. Many markets in Europe and Asia remained closed. The price of U.S. crude oil hovered near $112 per barrel, and the U.S. dollar weakened. The yield on the 10-year U.S. Treasury note was largely unchanged at 4.34%.
As U.S. President Donald Trump extended the deadline for Iran to reopen the Strait of Hormuz to Tuesday, American allies were reportedly pushing for a last-minute agreement with Iran. According to an Axios report, Pakistan, Egypt, and Turkey are advocating for a potential ceasefire agreement that could last for 45 days.
A report from Shargh indicated that Iranian Foreign Ministry spokesman Esmail Baghaei acknowledged the existence of communication channels between Iran and the United States but reiterated that Tehran is seeking a complete end to the war, not a temporary truce.
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