Market On Open - Monday 15 April

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Now What?

by Alex King

The market playbook for regional conflict is fairly well established which is, sell the tension and buy the aftermath. Last week Iran had telegraphed (or Telegram’d, more likely) that it was intending to attack Israel by air; tensions and volatility rose. Saturday the attack; Sunday the Iranian declaration of no further escalation. What happens today, tomorrow, is anyone’s guess, but markets for now - it’s 5am Eastern at the time of writing, so there’s not a great deal of volume to tell the real story - are following the playbook. Equity futures are up; also the 10yr yield is up which may indicate no ’rush to safety’ to US treasuries; oil futures are flat (you would expect up if the market was concerned about a wider Middle East conflict). The rider for all this is (1) events may take a turn for the worse and (2) the close today will be a lot more important than the open as far as price discovery goes.

We refresh all our charts below - equities, oil, bonds.

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Short- And Medium-Term Market Analysis