- Wall Street ends in the red, having earlier hit highs last seen in February-March. The S&P 500 falls 0.3%, the Nasdaq loses 0.5%. Consumer cyclicals sector falls 1%, and energy is the best-performing sector up 1.5%.
- U.S. stock market volatility, as measured by the VIX index, falls to its lowest in almost 4 months earlier in the day.
- Treasuries rally, also boosted by soft inflation and a strong 10-year auction. Yields end down as much as 7 bps, curve bull steepens slightly.
- Oil hits a two-month high, rising more than 4% after sources say the US is preparing to evacuate its Iraqi embassy due to heightened security concerns in the region. Brent crude reaches $69.77/bbl, WTI rises above $68/bbl.
- Precious metals rise, led by a surge in platinum to a 4-year high above $1,280/oz. Platinum rose as much as 5% and is up over 20% in June, which would be its best month since 2008.
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