U.S. stocks and bonds, and the oil market are reacting positively to yet another purported peace agreement, but crypto markets remain under heavy pressure. Markets reacted to a reported draft deal and recent U.S. airstrikes near the Strait of Hormuz by pushing stocks and bonds higher and oil lower, while bitcoin continued to slide. The Fed’s preferred inflation gauge, the PCE index, rose to 3.8 percent in April, its highest level since 2023, intensifying pressure on policymakers already grappli…
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