2
Oil is back in the spotlight.
WTI crude jumped approximately 5.4% last week as the expiration of the U.S.-Iran ceasefire and renewed threats of additional economic and military action pushed geopolitical tensions higher.
Higher oil prices are a problem because they can feed directly into inflation—and that makes it harder for the Fed to lower interest rates . Treasury yields moved higher as well. The 2-year Treasury yield climbed to 4.23% , while the 10-year moved to 4.74% .
The chart below – stage 2 breakout underway.
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