Highlights
Oil prices and bond yields have retreated a bit from Thursday's highs and global stocks are edging up but the move appears corrective only as the same factors that pushed oil and bond yields higher remain -- an escalating conflict in the Middle East and no letup in the disruptions to the flow of energy and other supplies from the region. Add to this President Trump's latest extension of his disastrous tariff policy to add to inflation pressures and the overall atmosphere of chaos. Given reports that Trump is now in revenge mode against Iran and weighing massive attacks, the risk-off mood in financial markets is likely to return headed into the weekend.
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