​​​Macro Update

​Oil sinks further as Trump delays fresh Iran strikes: Brent crude fell 1% to $91.56 a barrel, its lowest level since early September, extending Monday’s 5.85% slide after Trump said he would postpone further military strikes against Iran following appeals from regional leaders. Brent is now around 22% below its six-month high of $118 reached on 30 October, although the US naval blockade in the Strait of Hormuz remains in place.

​Wall Street rebounds sharply as cheaper oil eases inflation fears: The S&P 500 jumped 2.35% to 7,549.94, its biggest one-day gain since 8 April, while the Nasdaq rose 2.74% and the Dow gained 2.15% to 52,389.75. All 11 S&P sectors advanced, while the Philadelphia Semiconductor Index…