Editorial companion

What stands out

Stocks jumped as investors rallied behind another burst of artificial intelligence (AI) optimism while the dollar slid to a three-month low after data reduced expectations for more Federal Reserve (Fed) tightening. The 60-day deadline on the U.S.-Iran Memorandum of Understanding (MOU) expired and Tehran said it had lost "all relevance," a reminder that geopolitical flare-ups are creeping back onto market screens. Ella Gude of BNY Investments Newton laid out fixed income implications, including how bond demand is shifting in a world of AI-driven corporate borrowing and softer rate bets.