US equity futures are softer, with the S&P 500 down. Bond yields show a mixed picture as US Treasuries rise along the curve following Friday’s public holiday. The Bund is down 1 bp at 3%, while the benchmark Gilt is up 1 bp at 4.9%. The US dollar is firmer. Oil prices edged slightly higher, with WTI crude trading near $76/bbl. Gold is lower, industrial metals are advancing, and Bitcoin is softer. US and Iran held high level talks in Switzerland focused on issues including nuclear deal, keeping Strait of Hormuz open, release of frozen assets, and enforcing Lebanon ceasefire. Both sides described progress in talks, which are set to resume Monday. Volatile backdrop to the negotiations after Trump threatened to relaunch strikes and Iran declared Strait of Hormuz closed amid tensions over continued fighting in Lebanon.

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