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Two Months to get Oil Back Online is 'Optimistic,' Says Rebecca Babin

Rebecca Babin, senior equity trader and managing director at CIBC Private Wealth, said that the markets are using a two month base case as the predicted time it would take to get oil production back up and running after the end of war with Iran, a timeline she finds 'optimistic.' Babin said that even if US oil exports grows to 5 million barrels a day, it still won't be enough to fill in the supply lost to the closure of the Strait of Hormuz.

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Bloomberg

Goldman Bond Trading Miss Outweighs Equity Record

Bloomberg Intelligence Financials Analyst, Neil Sipes discusses Goldman Sachs' earnings out before the bell Monday. Goldman Sachs Group Inc. shares fell after the bank reported a surprise drop in bond-trading revenue, casting a shadow over what was another record quarter from the firm's equities team. Fixed-income, currency and commodities revenue was $4.01 billion for the first quarter, according to a statement Monday. That was more than $800 million below the consensus of analyst estimates compiled by Bloomberg and 10% less than the same period last year. The bank also warned investors that its backlog of fees decreased slightly compared to the previous quarter. Shares of the company slumped 4.2% to $869.88 at 9:33 a.m. in New York, by far the biggest decline in the 24-company KBW Bank Index. The drop left the stock down 0.8% for the year.

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Bloomberg

US Blockade Risks Global Conflict

Leslie Vinjamuri, the President and CEO of the Chicago Council on Global Affairs joined Bloomberg Open Interest to break down the risks of a US blockade of the Strait of Hormuz, warning it could escalate tensions with China, fail to pressure Iran without incentives, and expose a lack of coordination with key allies. She explains why diplomacy, and not just force, will determine what happens next.

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