Markets stall amid lack of progress in Mideast negotiations
Good morning. Yesterday’s rally in global financial markets is running out of momentum as investors await evidence of tangible progress in negotiations between Washington and Tehran. Iran is reportedly reviewing a one-page, 14-point US proposal under which sanctions would be lifted and the Strait of Hormuz opened to shipping in exchange for a suspension of nuclear enrichment activities*. Oil prices are stabilising, with Brent settling near $100 a barrel and West Texas Intermediate oscillating around $93. Yields are little changed, equity futures are setting up for incremental gains at the open, and the greenback is moving modestly lower against a...