1520 ET - The reopening of Strait of Hormuz stops short of cleaning up all uncertainty investors face because of tensions in the Middle East. "Today feels great, but we could have a headline tonight or tomorrow where we take two steps forward, one step back," TCW's Jamie Patton says. Bond markets offer an indication of how cautious the newly found optimism is: Treasury yields fell after Iran and President Trump declared the strait open for commercial traffic, but remain well above pre-war levels. "If this war is a novel, we've turned the page, it's a new chapter, but the book isn't over," Patton says. (paulo.trevisani@wsj.com; @ptrevisani)
(END) Dow Jones Newswires
April 17, 2026 15:20 ET (19:20 GMT)
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