Gulf states are revising plans for new pipelines to bypass the Strait of Hormuz. The Financial Times reported countries aim to replicate Saudi Arabia's East-West pipeline despite massive costs and complexity. The Iran war extended into its third week keeping crude above $95.
Energy rationing spread globally. Governments from Bangladesh to Zambia imposed measures cutting fuel demand. World's top energy traders got wrongfooted early in the conflict. The scale of the crisis caught out firms that normally thrive on volatility.
India's central bank made it harder to short the rupee. RBI blocked non-deliverable derivatives in the onshore market pushing the currency higher. Chinese government bonds emerged as the lone war haven with yields down marginally while other major economies saw yields rise.
Fed's Williams spoke on Bloomberg TV calling the job market situation "pretty complicated". He described conditions as low hire and low fire. The New York Fed chief expects underlying inflation to moderate later this year. Williams said the US economy is remarkably resilient and tech broadly helps productivity levels.
Redbook retail sales index surged 7.6% year over year for the week ended April 4. The March 2026 versus March 2025 comparison showed 6.8% growth demonstrating consumer resilience.
ANET Arista Networks grabbed an upgrade to buy from Rosenblatt with a $180 target. The networking equipment maker benefited from AI infrastructure buildout momentum. Neurocrine Biosciences held an outperform rating with a raised $166 target from Wedbush.
US Treasury called in regulators for talks on private credit risks. Discussions include American and international insurance watchdogs as shadow banking concerns intensified.
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.
