IEA warned last night that April will be "much worse" for global energy markets. The Strait of Hormuz closure extends into week four creating massive supply disruption. Airlines scaled back expansion plans as jet fuel costs exploded. Carriers entered crisis mode scrambling for alternative supply routes.
Brent crude surged 60% in March marking the biggest monthly gain dating back to 1988. Oil settled near $100 yesterday after Trump indicated the Iran campaign could end within weeks. Chinese government bonds emerged as the lone safe haven with yields down marginally while other major economies saw yields rise.
Foreign central banks dumped US Treasuries at the fastest pace since 2012. International official holdings at the New York Fed fell sharply showing declining appetite for dollar assets despite initial haven flows.
LHX L3Harris powered the first crewed lunar mission in 50 years as Artemis II launched today. The aerospace defense contractor grabbed headlines alongside Renesas and LMT Lockheed Martin. Pentagon officials disclosed Defense Secretary Pete Hegseth's broker approached BlackRock about multimillion-dollar defense fund investments before the Iran attack started.
European markets posted their worst month since 2022 as war concerns intensified. Asia-Pacific markets traded mixed showing continued volatility. South Korea's Kospi led regional rebounds after Trump's timeline comments.
LLY Eli Lilly stock popped after FDA approved a new GLP-1 weight-loss pill. The pharmaceutical giant grabbed momentum in obesity treatment markets. Shionogi completed acquisition of all rights to RADICAVA from Japan Tobacco showing M&A activity persisted despite macro chaos.
Gold extended gains on softer dollar sentiment yet remains down sharply for March. The precious metal suffered its worst monthly performance in over 17 years despite war volatility.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
