Oil, rates and commodities ahead of jobs data
Brent fell below $98 on de-escalation hopes, Treasury traders are positioning for a bond rally before the jobs report, and copper hit its lowest since July.
What we know
First Squawk reports Brent below $98 on Middle East diplomacy hopes. Treasury traders are betting on a bond rally ahead of the October jobs report as hike expectations fade. Copper fell to ~$13,642/ton on US election uncertainty. Caleb Franzen sees crude heading to $75 or lower on a breakdown, and TraderSZ thinks the US10Y has topped. An Israeli UN ambassador quote links oil prices to the Iran decision.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.