Peter Singlehurst

rally across the gilt curve this morning.

Looking at 10-year gilt yields, they drop 10 basis points to 4.8%.

Now, looking at the Middle East, President Trump has pulled back from threatened military strikes against Iran, claiming again that a deal is close without any confirmation from Tehran.

Earlier, the American leader had vowed to hit the Islamic Republic very hard and was threatening to seize its oil infrastructure on Karg Island.

Donald Trump then told reporters again that a deal with Iran could come as soon as this weekend.

Oil prices have plunged while stocks have rebounded.

On President Trump's comments, they are the latest in a series of mixed signals about a war that is now in its fourth month.

So those are our top stories today.

Let's have a look at the markets.

European stocks are up by almost 1.8% this morning.

Travel and leisure stocks and banks are seeing big gains.

Ryanair Holdings up by 6.8%, TUI up by more than 7.2% as you see oil prices declining.

You also see this rally across sovereign bonds in Europe.

So German and British yields are down 5.5 basis points at 2.97%.

A drop of 10 basis points for UK gilt yields at 4.8%.

US yields also lower at 4.44%.

This as we see the dollar this morning up about a tenth of 1%.

And stock futures for the Nasdaq, they've just about turned positive.

Let's see what happens though later when you do get SpaceX actually begin trading.

It's going to be a very, very big day.