Hope Lifts Stocks And Bonds

Marc Chandler17.13K FollowersFollow5ShareSavePlay(11min)CommentsSummaryThe dollar was sold in a flurry of activity late in North America yesterday, but follow-through has been limited today and the greenback is trading with a firmer bias.Sterling gave up a little more than half of Monday’s gains yesterday and found bids above $1.3350. It is trading inside yesterday’s range so far today and is in the narrowest range in nearly two weeks: ~$1.3370-1.3435.The Australian dollar fell for the third consecutive session and is extending it into the fourth session today, although it is inside yesterday’s range. It settled below $0.7000 for the second consecutive session.Although US indices finished lower yesterday, hope that a ceasefire can soon be agreed upon in the war on Iran is helping lift equities today. Nearly all Asia-Pacific markets rallied earlier today, with most of the large markets up more than 1%.Europe’s Stoxx 600 is up for the third day, which, if sustained, would be the longest advance in more than a month. US index futures are up 0.8-1.0%. tadamichi/iStock via Getty Images There continues to be hope in the capital and commodity markets that a US-Israel war on Iran can be brought to a conclusion soon. While news reports indicate that the US had drafted a 15-point peaceThis article was written byMarc Chandler17.13K FollowersFollowMarc Chandler has been covering the global capital markets in one fashion or another for 40 years, working at economic consulting firms and global investment banks. A prolific writer and speaker he appears regularly on CNBC and has spoken for the Foreign Policy Association. In addition to being quoted in the financial press daily, Chandler has been published in the Financial Times, Foreign Affairs, and the Washington Post. In 2009 Chandler was named a Business Visionary by Forbes. Marc's commentary can be found at his blog (www.marctomarket.com) and twitter www.twitter.com/marcmakingsense