Trump Is Undoing Trades He Pushed as Oil, Yields, Dollar Surge

Until the conflict with Iran broke out, President Donald Trump was getting — by design or by chance — what he appeared to want in three pivotal financial markets: lower oil prices and Treasury yields, and a weaker dollar.

The air strikes that the US and Israel launched over the weekend, and Iran’s counterattacks, are unraveling that. Crude prices have soared as war enveloped the Mideast, ramping up inflation concerns and complicating the Federal Reserve’s path to cutting interest rates again.