Finance

Citadel Securities sees stock, bond rally as worst-case Iran risk fades

Citadel Securities said the likelihood of a worst-case scenario in the Iran conflict has fallen sharply and that both stocks and bonds could rise together. Nohshad Shah, head of EMEA fixed-income sales, said the risk has moved away from an extreme phase as the chance of a broader escalation declines. He said markets appear to be pricing in fewer tail risks. U.S. stock indexes also rose, with the S&P 500 gaining 1.02 percent.

Crypto

Bitcoin rebounds to $74,000 as Hormuz blockade begins

Bitcoin rebounded to around $74,000 after the United States began measures to blockade the Strait of Hormuz, recovering some of its losses alongside U.S. equities. Markets focused on the scope of enforcement, with analysis suggesting only ships traveling to and from Iranian ports would be targeted. Oil prices reacted, with WTI near $102 a barrel. Traders remained cautious on short-term direction and watched key price levels.