A.M. Update

S&P futures are unchanged, having recovered from Israel’s limited military strike against Iran. Oil prices initially spiked, sending WTI crude oil futures above $85.00/bbl, but prices quickly pulled back. WTI crude oil futures are down 0.6% to $81.60/bbl, suggesting that the market doesn’t expect any escalation. The 2-yr yield is down two basis points to…