The bond market is in open revolt as Trump declines to accept an Iranian peace deal and oil hits $92 a barrel

Good morning.

On Fortune’s radar today: Venezuela oil pact ‘ looks like an insider deal .’ Iran again offers Trump the deal he wants but the president wants to ‘hit them hard’ instead.

Markets: It’s messy out there.

You’re not still using a 60:40 stock-bonds portfolio, are you? The one number Fed Chair Warsh is actually watching.

There’s a global sardine crisis—and prices are through the roof . ➡️ Did someone forward you this email? If you would like to receive this information directly, every morning before the markets open in New York, sign up here .

This story was originally featured on Fortune.com