Oil Up, Yields Up, Dollar Up; Stocks Flat-to-Down: The War’s Inflationary Grip Tightens Despite IEA Move, As Software Credit Divergences and Bond Volatility Flash Red

The IEA came through with a decision to make 400 million barrels of oil from their emergency reserves available to the market to address oil disruptions. Beyond a momentary knee-jerk blip in WTI’s price, it didn’t matter one bit as the news was either priced in amid 2 days of jawboning, and/or the market sees…