S&P 500 Relief Rally Limited After US-Iran Deal: Deutsche Bank

Deutsche Bank’s Henry Allen observes that the S&P 500 has seen only a modest relief rally following the US-Iran interim agreement and lower oil prices. The index remains below its early-June record high, and credit spreads have not tightened significantly, suggesting caution remains among investors.

Allen points out that while the geopolitical development and falling crude prices provided a short-term boost, broader market risks persist. The limited nature of the rally indicates that traders are not fully convinced of a sustained recovery, keeping the index in a narrow range.