May 6, 2026

Iran is considering a US proposal to end the war in the Middle East.

International

According to reports this morning, Iran is considering a new US proposal to end the war. If Iran accepts the proposal, it would entail the gradual reopening of the Strait of Hormuz. Iran is expected to submit its response within the next two days. Oil prices are falling on this news, with Brent crude trading approximately 8% lower this morning.

Regarding economic data, the US JOLTS employment survey was released yesterday, showing 6,866,000 job openings for the month. This figure is in line with expectations (6,860,000), and the February figure was revised upward from 6,882,000 to 6,922,000. The April Purchasing Managers' Indices (PMIs) for the services sector were also released, with the S&P Global index coming in at 51.7 points and the ISM index at 53.6 points, both slightly below projections. It's worth noting that a reading above 50 points indicates expansion, while a reading below 50 points indicates contraction.

Against this backdrop, the main US stock indices advanced yesterday. The S&P 500 rose 0.8%, the Nasdaq gained 1.0%, and the Dow Jones advanced 0.7%. Thus, so far in 2026, the indices have accumulated gains of 6.0%, 9.0%, and 2.6%, respectively.

Meanwhile, US Treasury yields remained virtually unchanged on Tuesday. The 1-year bond closed unchanged at 3.75%, while the 3-year bond yield fell slightly from 3.98% to 3.97%. Finally, the 10-year bond closed with a yield of 4.42%, slightly below the previous 4.44%.

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