Bloomberg US stocks extended gains and Treasuries turned lower after President Donald Trump toned down rhetoric against Iran, suggesting further military force is not needed. The S&P 500 pushed to a fresh intraday record after Trump said Iran appears to be “standing down,” and announced further sanctions on the country. Ten-year Treasury yields rose after tumbling overnight following Iranian airstrikes …

Bloomberg Billionaire money manager Jeffrey Gundlach said his strongest market conviction is that the still-resilient dollar will weaken. The greenback has largely defied expectations for its demise, with the Bloomberg Dollar Spot Index ending last year less than 1% lower as foreign-exchange volatility dwindled. But the DoubleLine Capital chief executive officer said growing US government and trade deficits, a steepening …

Bloomberg Bitcoin climbed to the highest since November after breaching the $8,000 price level. Concerns about an escalation in the conflict between the US and Iran are seen as contributing to the rally in Bitcoin, which is not managed by a government. “Bitcoin and gold are well supported due to rising tensions between the US and Iran,” said Emmanuel Goh, …