-- The "rumour mill" that the end of the war with Iran may be near has markets buying it on Wednesday with few questions asked, when perhaps many remain, said Scotiabank.
The rumour mill that the end of the war with Iran may be near has markets buying it with few questions asked when perhaps many remain.
Oil is off by almost US$10/barrel, noted the bank. Sovereign bond yields are down across the board and by double-digit basis points in parts of European curves.
Stocks are pushing higher, again led by Europe, where the gains are in the 2% to 3% range, pointed out Scotiabank. The US dollar (USD) is broadly weaker, but not for currencies linked oil such as the Canadian dollar (CAD or loonie) and Norway's krone (NOK), which are underperforming.
Central bank moves are being slightly repriced, added Scotiabank.