Marketwatchers have been fretting about the rise in EONIA but the ECB isn’t worried. Draghi said money market factors are temporary and will “wash away”. He said the EONIA market is showing that banks are returning to the market.
Draghi
Marketwatchers have been fretting about the rise in EONIA but the ECB isn’t worried. Draghi said money market factors are temporary and will “wash away”. He said the EONIA market is showing that banks are returning to the market.
Draghi
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Oil stocks like MGY, EQT, HP drop 3% on de-escalation news. HP's 15.8% YTD gain faces profit-taking.
Trump reiterated that US objectives in Iran are largely met but offered no new detail on Hormuz or next steps. Markets turned mildly risk-off, with the dollar firmer, equities softer and oil higher as geopolitical uncertainty persists.
TD SYNNEX hits new highs, up 19.1% YTD. AI stocks trade high, but one AI app firm is cheap.
Gas prices hit $4/gallon, impacting drivers & potentially Iran war's effect on oil.
Oil prices drop 2% on de-escalation news. Energy stocks like CRC, XPRO, RES, HPK, NBR fall. NBR down 7.8%, still up 43.3% YTD.
Oil stocks like CRK and PTEN drop 6% on de-escalation news. AESI's 6.7% fall shows volatility, but it's still up 24% YTD.
Trump spoke without adding new info, still a 2-3 timeline, no ground war announced. Market movement over the previous 2 days were hinged on an announcement of him pulling out. Not yet though.
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