The global bond rout continues with yields rising in the UK, Germany and France, while the 10-year US Treasury yield hits its highest level since November 2023. Tensions in the Middle East remain elevated after the US and Iran exchanged strikes, with two tankers hitting naval mines in the Strait of Hormuz. Chevron announced a 7 billion dollar investment in Venezuela to more than double its oil production. Among corporate results, Dell reported an exceptional quarter with shares up nearly 8% premarket driven by explosive server demand, Palo Alto Networks beat fiscal fourth-quarter expectations, while MongoDB fell 12% despite results above forecasts. Medtronic received price target increases from Bank of America (110 dollars) and Baird (100 dollars), and Element Solutions was initiated with a buy rating at Jefferies.
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