Markets Struck by Glut of Escalation Headings
Mon, May 4 2026, 4:08 PM
Markets Hit by Excess of Escalation Headlines
Monday’s trading session ended up being as basic as it was undesirable. Bonds lost ground somewhat greatly as war-related headlines kept amounting to additional escalation. Emphasizes consist of overnight reports of Iran striking a U.S. warship with rockets, several reports of UAE air defenses being triggered, and damage/fire at a UAE oil export terminal. While bonds had a few minutes of self-reliance, they were broadly driven by increasing oil rates connected with the aforementioned headings.
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- ISM Production Employment (Apr)
- 46.4 vs 49 f’cast, 48.7 prev
- ISM Manufacturing PMI (Apr)
- 52.7 vs 53 f’cast, 52.7 prev
- ISM Mfg Prices Paid (Apr)
- 84.6 vs 80 f’cast, 78.3 prev
- ISM Production Employment (Apr)
09:20 AM
moderately weaker over night. 10yr up 3.5 bps at 4.41 and MBS down 7 ticks (.22 ).
11:31 AM
Weakest levels after headlines regarding Iran assaulting UAE. MBS down 3/8ths and 10yr up 6bps at 4.435
02:23 PM
sideways simply off weakest levels. MBS down half a point and 10yr up 7.1 bps at 4.447
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