A week that started with a historic threat from US President Donald Trump to Iran—“A whole civilization will die tonight, never to be brought back again.”—ended with US-Iran talks in Pakistan to preserve and extend a temporary two-week ceasefire (please see below). Oil prices fluctuated wildly, ending the week lower, while both the rates and equity markets sought to find their composure. By the end of the week, the S&P 500 was very close to its level before the US-Israeli attacks on Iran began, and flat on the year (Reuters chart below). In contrast, the 10-year yield on Treasury bonds ended the week at 4.31%, and ... (full story)