SPX7,580.06+0.22%DJIA51,032+0.72%COMP26,973+0.20%RUT2,919.34-0.59%CL$87.76-1.28%GC$4,569.90+1.57%DX98.94-0.08%VIX15.32-2.67%Fed Funds4.50%HOLD10Y4.287%-0.031CPI Y/Y2.8%-0.1%Core PCE2.7%-0.1%Unemp4.2%0.0NFP+150kMayGDP Q/Q+2.6%Q1Retail+0.4%M/MSPX7,580.06+0.22%DJIA51,032+0.72%COMP26,973+0.20%RUT2,919.34-0.59%CL$87.76-1.28%GC$4,569.90+1.57%DX98.94-0.08%VIX15.32-2.67%Fed Funds4.50%HOLD10Y4.287%-0.031CPI Y/Y2.8%-0.1%Core PCE2.7%-0.1%Unemp4.2%0.0NFP+150kMayGDP Q/Q+2.6%Q1Retail+0.4%M/M

The Morning Bell: Energy Reality Sets In

ByON1010 Research Posted onApril 28, 2026 at 8:14 AM EDT Reading Time: 3 minutes

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The Opening Bell

Markets are waking up to an uncomfortable truth: the Fed’s victory lap on inflation was premature. With crude holding above $100 and the Strait of Hormuz still closed after two months of military crisis, yesterday’s climb in Treasury rates signals that bond investors are finally pricing in what energy markets already knew — this isn’t a temporary spike.

Market Snapshot

Fed Funds Target Range: 3.5%-3.75%

10-Year Treasury: 4.31%

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