Good afternoon and welcome to Markets Desk.
The dollar is softer in today's session, with the dollar index slipping a tenth of a percent as crude oil tumbled more than two percent, pulling ten-year Treasury yields down roughly three and a half basis points. The CPI print offered some underlying support, but energy-driven disinflation is doing the heavy lifting in rates today.
Turning to energy geopolitics, CNBC is reporting the inside details of a historic oil deal between the United States and Venezuela. The U.S. Secretary of Energy traveled to Caracas, one of only a handful of press outlets allowed access, signaling Washington is actively working Venezuelan supply back into the global picture as it manages crude price pressures.
And in fixed income strategy, MarketWatch is out with a timely look at how rising bond yields cut two very different ways depending on where you sit. For traditional bond holders, higher yields mean mark-to-market pain as prices fall. But for cash and short-duration investors, the same environment is generating the best income returns in more than a decade, reshaping how advisors are thinking about portfolio construction heading into year end.
That's the tape. Markets Desk, signing off the floor.
