Morning Economic Report 6-24-25

The sharp turnaround in oil prices understandably coincided with a rally in equity markets as hopes for a sustainable peace between Iran and Israel grow, albeit not irrevocably. Focus will now hopefully return to trade deals and tariff negotiations. Fed vice chair says time to cut rates is fast-approaching. Fed chair Powell’s testimony is this afternoon. German business morale in June brightened more than anticipated, the Ifo Institute reports. European shares are up by more than 1%, the dollar is getting sold off and bond yields are stable.