EUR

Good morning. The dollar is advancing against all its major counterparts as the conflict in the Middle East turns hot and the rout in global bond markets grinds on. The euro, pound, and yen are trading softer ahead of a raft of US data releases, including the monthly ADP employment print, durable goods orders, and Beige Book survey—none of which are typically market moving, but any of which might contribute to expectations for monetary tightening in the months ahead. Oil prices are climbing after the US launched another round of strikes on Iranian targets—including two tankers—and Tehran said it had...

Good morning. A rout in global bond markets is intensifying and the dollar is climbing as an outbreak in hostilities between the US and Iran revives inflation risks, raises the likelihood of interest rate hikes in the months ahead, and makes safe havens more appealing. Energy prices are ratcheting higher after two supertankers were reportedly struck by anti-ship missiles while passing through the Strait of Hormuz overnight. With the threat of a prolonged disruption once again growing more acute, Brent is trading near $92 a barrel, up 4% over the past week, while West Texas Intermediate stands at $88, up...