Peace Talks Move Markets, Not Earnings or Inflation
RH
Robin Harmon
30-year mortgage rate · Apr 16, 2026
Source: DojiDoji Data Terminal
Front-month WTI crude oil fell from over $105 to $88 per barrel as war risk receded. The 10-year U.S. Treasury yield dropped from 4.37% to 4.24% as investors priced in lower inflation and war risk. Futures markets shifted the expected Fed rate cut from October 2027 to September 2027. Markets priced out any chance of a rate hike in 2026.
U.S. financial markets rallied on Tuesday as peace talks in the Middle East gained momentum. The S&P 500 gained 1.18% on Tuesday, closing 0.5% below its record high. The Nasdaq Composite rose 1.96%, closing 1.6% from its intraday record high. Dow Transports surged 22.5% year to date, closing at a record high.
Producer Price Index for March showed headline PPI at 0.5% month-over-month, below the 1.1% consensus. Core PPI came in at 0.1% month-over-month, well below the 0.5% expected. Year-over-year headline PPI was 4.0%, below the feared 4.6%. Core PPI printed at 3.8% year-over-year, below the expected 4.1%.
Amazon agreed to acquire Globalstar for $11.57 billion, or $90 per share. Amazon shares rose 3.8% on the news, now up over 25% from late March lows.
30-year mortgage rate
The Ledger Morning
The essential intelligence to start your trading day. Delivered 6:00 AM EST.
Join 50,000+ professionals who start their day with The Digital Ledger.