Middle East War Escalates
The U.S.-Iran war spread across the Middle East as Iranian proxies attacked Saudi energy infrastructure, disrupting energy production and transportation and pushing WTI crude above $100 per barrel. Meanwhile, higher energy prices lifted headline Consumer Price Index (CPI) and Producers Price Index (PPI), fueling inflation concerns and driving the 10-year Treasury yield as high as 4.98%, just 0.02% shy of its October 2023 peak of 5.00%.
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