Improving expectations around geopolitical de-escalation eased oil-related worries, lifting overall equity sentiment. With rates still a major swing factor, sustained gains likely require supportive Fed and real-yield dynamics.

Cooling energy/inflation concerns improved conditions for long-duration growth, driving a sharp Nasdaq-led rebound. Because tech is highly rate-sensitive, Fed signals and real-yield moves are likely to determine whether gains persist.

Energy-price pressure easing supported a steadier rise in more cyclical, value-leaning stocks. With long-end rate pressure still present, the move may be more gradual than an aggressive repricing.

Long-duration Treasuries look mildly mixed as real-yield pressure can weigh on prices. Ahead of Fed communication, TLT-style duration risk may amplify, increasing price swings.

Gold bounced as sentiment shifted and safe-haven demand was repriced. However, renewed strength in real yields or the dollar could cap upside, making the upcoming Fed communication a key driver.

Silver rose alongside the broader risk-on rebound. As an industrially linked precious metal, it is sensitive to growth expectations as well as rate and FX conditions, so the macro follow-through is important.

Energy exposure sold off as oil-related uncertainty eased. If de-escalation persists, the risk premium for crude could remain compressed, but any renewed supply-shock risk could quickly bring volatility back.

Expectations of easing U.S.–Iran tensions boosted risk appetite, helping BTC rebound. After a recent drawdown, flows (including ETF demand) and macro expectations are likely to drive momentum, keeping volatility elevated.

ETH surged as improving risk appetite lifted crypto broadly. In the short run it remains highly sensitive to macro catalysts and positioning, so follow-through matters after the initial catalyst fades.

Emerging markets benefited from a softer dollar and broader risk-on conditions. But falling oil prices can hurt energy exporters, so differentiation across countries within EM is likely to persist.

A weaker dollar and improved risk sentiment provided mild support for European equities. With oil-price and rate effects operating together, dispersion across sectors and stock selection can matter more.

A softer dollar and improved risk sentiment supported Japan equities. If growth/tech-linked expectations hold up, the rebound can extend, though performance remains sensitive to yen moves and the rate path.

The 10-year yield rose, but the move doesn’t yet look decisively directional. Ahead of the Fed meeting, policy expectations may be re-priced again, and real-yield strength is typically a headwind for bonds.

Rising long real yields increased the appeal of holding duration on an inflation-adjusted basis, while remaining a headwind for bond prices. With the first Fed-chair-related meeting ahead, uncertainty about the path keeps yields prone to volatility.

The dollar weakened, generally supportive for risk and non-U.S. assets. With oil volatility easing and risk sentiment improving, dollar softness could persist, though Fed-related reassessments may trigger swings.

The 10Y–2Y spread suggests a relatively tepid growth/credit signal, while also reflecting changes in near-term expectations. If the Fed’s tone or growth outlook is revised, the curve could re-steepen or flatten quickly.