Early Morning Reid

Markets are volatile as President Trump rejects Iran's latest diplomatic response, while focus shifts to upcoming US CPI data and a transition in Fed leadership.

Key Takeaways

• 1.The Iran war has entered a 32-day stalemate, but markets remain highly sensitive to the closure of the Strait of Hormuz.
• 2.Oil prices and Treasury yields are rising after President Trump rejected Iran's latest diplomatic response regarding nuclear facilities.
• 3.US April CPI data is the major macro focal point, with core inflation projected to accelerate to +0.39% MoM.

Table of Contents

• Key Market Data
• Day-by-day calendar of events
• Other Market Data
• Key Economic Data
• Topical Deutsche Bank publications

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