Markets rallied as investors responded to shifting headlines around a U.S.–Iran cease-fire, easing near-term geopolitical risk.

Markets rebounded as U.S. economic resilience offset ongoing Iran tensions.

Stocks fell as yields rose amid ongoing volatility.

Equities sold off again while yields climbed, pushing bonds negative for the year.

The market moved to a more defensive posture and yields declined as rate cut expectations rose.

Investors rotated into more defensive, value sectors and drove up the price of gold.