May 15, 2024 11:28 GMT
Crude Headwinds Support Bonds
BONDS
Note that fresh headwinds for crude oil markets have further supported core global FI over the last few hours, playing into fresh highs for TY & Bund futures.
- Both WTI & Brent futures have looked below yesterday’s low in recent trade.
- Our commodity team flags concerns over the outlook for Fed monetary policy and the IEA’s softening demand growth outlook as the major headwinds for crude intraday, outweighing any impact of supply concerns from Canadian wildfires and a potential U.S. stock draw.
82 words