US stocks closed in the green and reversed earlier pressure seen following dismal prelim. Q2 IBM earnings, with a cooler-than-expected US CPI report helping unwind the initial downward move. Following the inflation metrics, which were cooler than expected across all gauges, immediate downside was seen in US yields and the dollar, to the benefit of FX peers, spot gold, and equities. Oil prices saw gains as the US and Iran continued to trade strikes, and the blockade restarted today, although Trump backed off his plan to charge a 20% fee for safe passage through the Strait of Hormuz, and will...