April 15, 2026
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7:11
8:40Now PlayingDean Curnutt, Founder & CEO at Macro Risk Advisors, examines the gap between implied and realized volatility.
US stocks were near a record high following a rally powered by optimism around a potential peace deal in the Middle East, with traders now eyeing confirmation of new talks and a fresh spate of corporate earnings.
The S&P 500 was up 0.1%, after the benchmark closed within a whisker of its late-January high in the previous session. Bank of America Corp. and Morgan Stanley rose as their equity traders posted strong revenue beats. The tech-heavy Nasdaq 100 was up 0.2%.
Stock and bond markets are increasingly pricing out much of the risk premium built up since the conflict started in late February as the US and Iran look to arrange a second round of negotiations.
The parties are closer to extending a ceasefire and restarting discussions about a longer-term peace deal, the Associated Press reported. President Donald Trump told the New York Post that talks could resume “over the next two days” and said in a Fox Business interview the war is “close to over.”
Brent slipped below $95 a barrel as the US pressed ahead with a naval blockade of the Strait of Hormuz. Treasuries edged lower, with the two-year yield rising two basis points to 3.76%. The dollar was flat while gold fell toward $4,800 an ounce.
“Amid all the uncertainty, I consider it warranted to re-focus on the outlook beyond the war,” said Holger Schmieding, chief economist at Berenberg. “A key driver of markets is that the war-related dash for liquidity is over and partly reversing. That helps the more risky assets.”
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