Morning Blast - 29th April: UAE walks, Gilts widen, Powell takes a bow

Ryan and Michael Brown on a Wednesday tape with three big stories and a quiet Middle East. The UAE walked out of OPEC after sixty years, but with one pipeline maxed at one and a half million barrels a day, nothing changes until the Strait reopens. UK gilts squeezed back near five percent on the ten-year, with the gilt-treasury spread blowing from twenty-five basis points to sixty-six. Powell takes the chair for his probable last FOMC, with Kevin Warsh's Senate vote landing this afternoon. Plus four hyperscalers report tonight, and copper is doing the talking on capex. Clive Lambert at FuturesTechs with the levels.