Bob Iaccino of Path Trading Partners discusses the latest market movements, noting that equity futures are down but off their lows while crude oil rallies above $75. As the market shifts focus toward the upcoming FOMC minutes, a clear divergence is appearing between U.S. and European yield curves. Additionally, rising geopolitical tensions following the end of the Iran ceasefire are driving renewed risk premiums in energy and defense sectors. Finally, look ahead to upcoming Treasury auctions and key corporate earnings reports from major brands later today and tomorrow.