Markets soar on hopes for Iran deal
The dollar is trading near its lowest levels in months, bond yields are plunging, and equity indices advancing after Axios reported that Washington and Tehran are nearing an agreement to end the war in the Middle East. Both global crude benchmarks are down more than 9%, with Brent trading below $100 and West Texas Intermediate nearing $90, and most major currencies are climbing against the greenback as traders scale back expectations for an energy price-induced shock to economies with heavy import exposures. A US-Iran deal could reshape the conflict and reduce risk across the global economy. According to Axios, Jared...