this week
Once again, developments in the Iran conflict impacted markets this week – overshadowing most of the macro news.
The main developments in the Iran conflict this week were:
- President Trump twice said the conflict would end in “two weeks, maybe three weeks”.
- Iranian President Pezeshkian said he was ready to end the conflict provided “necessary conditions” were met.
- President Trump stated at different times that reopening the Strait of Hormuz was not necessary to end the conflict.
Given signs that both sides are open to a near-term solution, markets have rallied this week, with the Nasdaq-100® up 4%, while 10-year Treasury yields have fallen more than 10 basis points to 4.3%.
next week
Here are the top events I’m looking forward to next week:
- Tomorrow: Non-Farm Payrolls (March), S&P Services PMI (March)
- monday: ISM Services PMI (March)
- Wednesday: Fed Minutes (March)
- Thursday: PCE Inflation (Feb), Real Consumer Spending (Feb), Real GDP (Q4, 3).third Print), Unemployment Claims
- Friday: CPI Inflation (March), UK Consumer Sentiment (Early April)
