🛢️ Oil fell, Wall Street rallied, and everyone briefly decided geopolitics was fixed. It is not.
Monday’s market move was impressive: the Dow reached a record, the Nasdaq gained more than 2%, and volatility retreated. However, Tuesday’s Asian session was mixed, Treasury yields remain restrictive, mortgage demand is weakening, and the Federal Reserve’s 9 to 3 vote exposed a serious internal argument over whether rates should increase again.
⚡ The real capital story was not the rally. Prysmian agreed to acquire electrical infrastructure manufacturer Atkore for approximately $3.8B, PIF’s consortium is expected to complete its $55B Electronic Arts take private, and Brookfield and NextEra are…
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