– US and international stocks surged on ceasefire hopes. REITs bounced, commodities split, and oil posted its steepest weekly drop since 2020.
– Growth beat value, led by semis and big tech. Energy was the clear laggard as crude suffered its worst week since April 2020.
– International markets jumped, led by South Korea, Japan, Europe and Latin America, as ceasefire hopes and cheaper oil sparked a relief rally.
– Oil plunged and the dollar logged its biggest weekly drop since January. Bond markets swung with CPI and ceasefire headlines as Bund yields rose.

– US equities slipped while international held firmer – Treasuries weakened as yields rose, REITs lagged, commodities lifted by oil strength and inflation fears
– Defensive sectors led as cyclicals cooled – value held up better than growth as ISM signaled stagflation and pressured economically sensitive groups
– International markets were mixed – commodity exporters outperformed while parts of Asia lagged amid slowing trade signals and uneven growth data
– Yields rose across curves, pressuring bonds broadly – dollar firmed, oil stayed elevated, supporting commodities while credit spreads showed early widening pressure