Global Bonds Jump as Ceasefire Sows Doubts Over Steep Rate Hikes

Published on April 8, 2026

Global bonds surged Wednesday on news that the US and Iran had agreed to a ceasefire, pausing a war that roiled markets for weeks by delivering the worst oil shock in years.

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Hopes of Peace Lift Markets, but Caution Still Warranted

April 8, 2026
Equity markets staged a meaningful recovery last week, driven by optimism of a ceasefire in Iran. The S&P 500 returned 3.4 percent, the NASDAQ gained 4.5 percent, and the Dow Jones Industrial Average added three percent – the best weekly performance in recent memory.

The US and Iran Have Blueprints for a Hormuz Deal

April 8, 2026
For centuries the so-called cannon shot rule determined who controlled the seas. The legal concept, codified by Dutch jurist Cornelius van Bynkershoek in 1702, was simple: The distance a cannonball reached from shore set the maritime boundary of a coastal state.