Fixed income markets are reacting to the recent developments in the Middle East. It is Day 2 for trading in the New Year and already we have seen a shift into flight-to-safety mode that warrants monitoring.

Below is a brief description of events and the response in both rates and commodities markets.

Iraq and Iran: Last night, the US drone attack killed a top Iranian military official (Qasem Soleimani) and Iraqi military official (Abu Mahdi al-Muhandis), among others.

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Jody Lurie

Sr. Fixed Income Portfolio Consultant

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