Just a Bit More Evidence For War Headlines and Oil Prices Helping Bonds

Bonds were sideways to slightly weaker overnight, but they're rallying back to unchanged levels in the 8am hour following favorable headlines regarding the Iran war.  Iranian officials floated the possibility of concessions in exchange for sanctions relief and separate headlines suggested Washington approved a draft MOU.  Certainly not the first time we've seen such headlines, but oil prices are clearly responding, and much like yesterday, bonds seem at least somewhat willing to start rekindling their old fling with oil price correlation.