- A flare-up in geopolitical risk sent stocks and bonds lower as oil climbed.
- The oil rally raised inflation concerns tied to the Federal Reserve interest-rate outlook.
- Wells Fargo's global asset-allocation strategist described the backdrop for stocks and commodities as constructive.
Quotes
“A flare-up in geopolitical risks sent stocks and bonds lower as oil climbed, raising concerns about inflationary pressures that could make the Federal Reserve raise interest rates.”