Morning Juice – US Session Prep (25th March)

Sentiment

Stocks recovered some of their losses, bonds soared, and oil prices fell as the Trump administration intensified attempts to end the war with Iran.
S&P 500 futures jumped 0.9% following news that the United States had devised a 15-point plan to end bloodshed in the Middle East. Brent sank 6% to below $99 per barrel even as the Strait of Hormuz remained essentially closed.
Bonds rebounded most strongly in Europe. The yield on two-year Treasuries fell four basis points to 3.86%. Gold edged up, while the dollar fell 0.1%.Traders are finding some reprieve following weeks of headline-driven volatility, which has left the S&P 500 on course for its worst monthly loss in a year.Despite Wednesday’s rise, investors remain apprehensive as Iran continues to threaten neighboring countries and various leaders hint that the Islamic Republic is unwilling to talk.

Docket
10:30 ET
US Weekly EIA Crude Oil Inventories
Forecast: -2.151M | Prior: 6.156M | Range: -0.5M / -3M

13:00 ET
US sells $70 bln 5-Year Notes
Prior High Yield: 3.615%
Prior Bid-to-cover: 2.320

Speakers
08:00 ET
BoE’s Greene speaks on a panel at the Jefferies Pan- European mid-cap conference.

08:00 ET
ECB’s Rehn speaks at the ECB Watchers Conference.

09:45 ET
ECB’s Kocher speaks at the ECB Watchers Conference.

12:30 ET
ECB’s Villeroy speaks at forum on defense and strategy in Paris.

13:00 ET
Trump receives his intelligence briefing

15:00 ET
Trump Participates in a Policy Meeting

16:10 ET
Fed’s Miran participates in a conversation on digital assets at the Digital Asset Summit 2026
Text: No. Q&A: Yes, moderator

16:40 ET
Trump participates in a Policy Meeting

Good luck!