Bloomberg — 2026-05-29#

Lead Story#

The US and Iran have reached a preliminary agreement to extend their ceasefire by 60 days and resume talks on Tehran’s nuclear program, pending final approval from President Donald Trump. The tentative truce sparked a broad market rally, sending US stocks to record highs and industrial metals to their best month since January, while oil prices and Treasury yields retreated sharply on optimism that Strait of Hormuz shipping flows will normalize.