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Ted Sarandos speaks out on why Netflix dropped bid to buy Warner Bros. Discovery

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Netflix CEO Ted Sarandos to testify on $72 billion Warner Bros merger deal

Netflix co-CEO Ted Sarandos said Sunday he knew “right away” he would decline to counter Paramount’s winning attempt to buy Warner Bros. Discovery, admitting rival chief executive David Ellison made a superior offer. 

Netflix dropped its bid to buy Warner Bros. Discovery on Thursday after the company announced Paramount’s latest bid to buy all of its assets, including CNN, was “superior.”

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“We had a very tight range that we’d be willing to pay and made that offer back when we closed this deal. We hadn’t moved much from that, except for moving to cash, which served to move the deal faster. I’m happy where we got in and happy where we got out,” Sarandos told Bloomberg

“We knew right away, when we got the notice on Thursday that they had a superior offer and the details of that deal,” he continued. “We knew exactly what we were going to do.” 

NETFLIX BACKS OUT OF WARNER BROS BIDDING WAR AFTER PARAMOUNT MADE ‘SUPERIOR’ OFFER

Ted Sarandos Netflix CEO

Netflix co-CEO Ted Sarandos said he knew “right away” he would decline to counter Paramount’s latest attempt to buy Warner Bros. Discovery. (David Benito/FilmMagic via Getty Images / Getty Images)

In December, Warner Bros. announced it had reached a deal with Netflix to buy the Hollywood studio and HBO for $83 billion, prompting Paramount to launch a $108 billion hostile takeover bid for the entire company, including all of its cable assets like CNN, which would have been spun off into a separate company under the Netflix deal.

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Sarandos suggested that President Donald Trump was largely interested in the deal because of CNN, the news network that he has long criticized. 

“Once it was clear that we weren’t in the CNN business, it was a lot less interesting. He didn’t care that much more about our deal,” he said.

Sarandos predicted that Paramount Skydance Corp. will ultimately need to slash a significant number of jobs. His comment came after CNN insiders told Fox News Digital that staffers feel “a mix of despair, apprehension and curiosity” as they await details. 

“It would be less production, less people working,” Sarandos told Bloomberg. 

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MOOD IS ‘HORRIFIC’ INSIDE CNN AS STAFFERS BRACE FOR CHANGE AMID POTENTIAL PARAMOUNT TAKEOVER, INSIDERS SAY

ted sarandos netflix co-ceo

Netflix co-CEO Ted Sarandos told Bloomberg he was “happy where we got out” of the bid to buy Warner Bros. Discovery. (Charley Gallay/Getty Images for Netflix / Getty Images)

Paramount’s revised offer raised WBD’s value to $31 per share, putting the company’s valuation at $111 billion. Paramount will additionally pay the $2.8 billion termination fee to Netflix after WBD backed out of their deal.

Ellison’s billionaire father, Larry Ellison, is personally backing Paramount’s bid, committing $45.7 billion in equity through the Ellison Trust, while Bank of America Merrill Lynch, Citi and Apollo will provide a $57.5 billion debt commitment.

The Netflix honcho also said Paramount has major regulatory hurdles to clear.

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“Even when we were thinking about keeping these businesses together and running, we knew that we had a difficult task ahead of integration. I can’t imagine doing all that and trying to cut billions and billions of dollars. Today, Paramount has half of the people that they had one year ago. So that gives you some sense of where this is heading for the town and for the business,” Sarandos said. 

Last month, Trump called on Netflix to fire board member Susan Rice immediately or “pay the consequences” after the former Obama official warned that corporations she said had “taken a knee” to Republican pressure should not expect forgiveness from Democrats if they return to power.

PARAMOUNT REFUSES TO BACK DOWN IN WARNER BROS. DISCOVERY TAKEOVER FIGHT AGAINST NETFLIX

Trump points during campaign rally

President Donald Trump largely lost interest in the Netflix deal once CNN wasn’t involved, according to Ted Sarandos.  (Joe Raedle/Getty Images / Getty Images)

Sarandos told Bloomberg he spoke with Rice but never considered removing her from the board. 

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CNN has largely embraced anti-Trump programming for much of the last decade, and the president has responded by publicly criticizing the network on a regular basis. Last year, The Wall Street Journal reported that Ellison told Trump officials that he’d make sweeping changes to CNN if he became its owner. 

One CNN insider said they were trying to keep an “open mind” but said it’s easy to understand why staffers are upset given the reporting on Ellison and Trump discussing changes.

“It’s existential for the brand to be owned by an individual who has personal allegiance to a political figure and is not even answering to public markets,” they told Fox News Digital

The White House didn’t immediately respond to Fox News Digital’s request for comment.

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Fox News Digital’s Joseph A. Wulfsohn contributed to this report. 

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Verizon Communications Stock Hits 52-Week High Amid Strong Momentum and Dividend Appeal

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The tech sector led record gains in the S&P 500 index. Pictured: a man with umbrella walks past the New York Stock Exchange.

Verizon Communications Inc. (NYSE: VZ) shares reached a 52-week high in late February 2026, climbing above $50 amid renewed investor confidence in the telecommunications giant’s growth trajectory, subscriber gains and shareholder-friendly capital returns.

The stock closed at $50.14 on Feb. 27, 2026, marking a 2.56% gain for the day and pushing its market capitalization to approximately $211 billion. As of early March trading, shares hovered around $50, with intraday fluctuations between $49.72 and $50.26. The advance represents a significant recovery from the 52-week low of $38.39 hit in late 2025, delivering more than 30% upside over the past year and positioning VZ as a standout performer in the telecom sector.

A person walks by a Verizon store in Manhattan, New York City, U.S., November 22, 2021.
A person walks by a Verizon store in Manhattan, New York City, U.S., November 22, 2021.

The rally follows Verizon’s fourth-quarter 2025 earnings report released in late January 2026, which highlighted robust wireless subscriber additions and reaffirmed optimism for the current year. Under new leadership, the company has emphasized cost discipline, network investments and strategic acquisitions to drive sustainable growth.

In the fourth quarter of 2025, Verizon reported total operating revenue of $36.4 billion and adjusted earnings per share of $1.09, excluding special items. The company achieved postpaid phone net additions of 616,000 — the strongest quarterly performance since 2019 — surpassing prior-year figures and beating analyst expectations. Full-year 2025 results included adjusted EPS of $4.71 and capital expenditures of $17 billion, focused primarily on 5G expansion and fiber broadband deployment.

Verizon’s momentum has carried into 2026, supported by guidance that projects adjusted EPS of $4.90 to $4.95, reflecting 4% to 5% growth from 2025 levels. Management anticipates free cash flow expansion of around 7%, bolstered by ongoing subscriber momentum and efficiency initiatives. Analysts project 2026 revenue approaching $144 billion, up more than 4% from the prior year, with EBITDA margins improving to approximately 36.8%.

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A key catalyst has been the company’s aggressive capital return strategy. Verizon’s board approved a $25 billion share repurchase program shortly after the new CEO took office, signaling confidence in the stock’s valuation. The company also raised its annual dividend by $0.07 per share — marking the 20th consecutive annual increase — pushing the forward yield to around 5.6% based on the recent $2.83 annualized payout. The ex-dividend date for the upcoming payment is April 10, 2026.

“This is an inflection point for Verizon,” one analyst noted in a February report. “After years of modest growth, the combination of strong wireless adds, broadband expansion and disciplined capital allocation is accelerating EPS and free cash flow.”

The Frontier Communications acquisition, valued at approximately $20 billion and expected to close in stages, has also fueled optimism. Integration efforts are projected to enhance Verizon’s fiber footprint and drive long-term revenue synergies, with some models suggesting potential upside to $68 or higher if subscriber trends and margin improvements materialize.

Verizon’s valuation remains attractive relative to historical averages. Trading at a price-to-earnings ratio of about 12.3 based on trailing earnings of $4.06 per share, the stock appears modestly priced compared with broader market multiples. Its low beta of 0.32 underscores its defensive characteristics, appealing to income-focused investors amid economic uncertainty.

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Challenges persist in the competitive telecom landscape. Wireless pricing pressures, legacy business revenue declines and heavy debt levels — with net debt potentially rising toward $190 billion — warrant monitoring. Broadband net additions in recent quarters fell short of some targets, and postpaid phone growth in certain segments like tablets and wearables has been uneven.

Despite these headwinds, Verizon has demonstrated resilience. The company’s 5G network leadership and investments in AI-related services position it to capture emerging demand. Consensus analyst ratings lean toward “Buy,” with average price targets near $49, though some optimistic forecasts envision higher levels if 2026 guidance is met or exceeded.

Investors continue to watch for the next quarterly update, expected around April 21, 2026. With shares trading near all-time highs for the recent cycle, Verizon’s blend of yield, growth acceleration and strategic execution has made it a compelling option for total return seekers in 2026.

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Intuit Inc. (INTU) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q2: 2026-02-26 Earnings Summary

EPS of $4.15 beats by $0.47

 | Revenue of $4.65B (17.36% Y/Y) beats by $118.79M

Intuit Inc. (INTU) Morgan Stanley Technology, Media & Telecom Conference 2026 March 2, 2026 1:00 PM EST

Company Participants

Sasan Goodarzi – CEO, President & Chairman

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Conference Call Participants

Keith Weiss – Morgan Stanley, Research Division

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Presentation

Keith Weiss
Morgan Stanley, Research Division

Excellent. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. equity research franchise covering software here at Morgan Stanley.

And really pleased to start out my conference talking with Intuit CEO, Sasan Goodarzi. Sasan, thank you so much for joining us.

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Sasan Goodarzi
CEO, President & Chairman

Thank you for having me. Happy Monday, everybody.

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Question-and-Answer Session

Keith Weiss
Morgan Stanley, Research Division

Excellent. So maybe to start off, you guys just reported Q2 results last week. A really impressive set of results. Beat revenues — almost every segment, beat revenues. Operating margins came in well ahead of expectations. EPS, you beat EPS by 12.5%. Can you talk to us about what’s going on under the hood? Like what are the developments that you guys are seeing thus far in your fiscal year that’s enabling you to put up those results, to beat on the top line and bring more leverage and beat on the bottom line the way that you did?

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Sasan Goodarzi
CEO, President & Chairman

Yes. Sure. So just as context, we ended our last fiscal year growing 16%. And to Keith’s question, first half of the year, we actually grew 18%, and Q2, which is what we just announced, was 17% top line growth.

And really, the drivers were across the entire business. Our Business platform grew 18%. And within our Business platform, a key metric we look at, which is one of the company’s big bets, is mid-market. That grew 40%. And our Consumer platform grew 15%.

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Form 8K PUBLIX SUPER MARKETS For: 2 March

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Form 8K PUBLIX SUPER MARKETS For: 2 March

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CDW Corporation (CDW) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

CDW Corporation (CDW) Morgan Stanley Technology, Media & Telecom Conference 2026 March 2, 2026 1:00 PM EST

Company Participants

Albert Miralles – CFO & Executive VP of Enterprise Business Operations

Conference Call Participants

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Erik Woodring – Morgan Stanley, Research Division

Presentation

Erik Woodring
Morgan Stanley, Research Division

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Awesome. So let’s get started, guys. Welcome to Day 1 of the Morgan Stanley TMT Conference. My name is Erik Woodring. I lead the hardware research coverage here. I’m delighted to be joined by Al Miralles, CFO of CDW, a long time mainstay here at the conference.

Before we start, for important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. [Operator Instructions] So Al, thank you very much for joining us today.

Albert Miralles
CFO & Executive VP of Enterprise Business Operations

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Yes. You’re welcome. Thanks, Erik.

Question-and-Answer Session

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Erik Woodring
Morgan Stanley, Research Division

Awesome. So I think the best place to start is maybe doing a quick look back on last year. And really what I’m hoping to better understand is, some of the challenges that you faced last year, how are you kind of course correcting, whether that’s market or micro-related? And then where do you actually see also the opportunities at the company level to lean in 2026, and we can take off from there?

Albert Miralles
CFO & Executive VP of Enterprise Business Operations

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Yes. Sounds good. Just playing back the last couple of years, obviously, coming off of COVID growth, we had a number of factors that influenced our — and impacted our business, which resulted in ’23 and ’24 being tough, right? So macro environment, a bit of decision elongation, funding cycles in the public sector, a number of factors that caused an air pocket of growth during that time. For 2025, what we’re looking for was a sustainable return to growth. We did see that. We felt like we took advantage

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Oil prices surge after reports of Iranian drone strike on Qatar facility

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Oil prices surge after reports of Iranian drone strike on Qatar facility

Oil prices have climbed after reports that Iranian drones struck a major liquefied natural gas (LNG) facility in Qatar, rattling global energy markets and reigniting debate over energy security.

But while the market reaction was swift, one energy analyst says the United States is structurally better prepared to weather the shock than many of its allies.

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“Energy security is national security,” Independent Women’s Center for Energy and Conservation Director Gabriella Hoffman said in an interview with Fox News Digital. “If your energy policy is tied to boosting domestic production and insulating yourself from geopolitical threats, you’re going to be in a stronger position during moments like this.”

In the early morning hours on Saturday, U.S. military forces launched a massive joint military operation against Iran, known as “Operation Epic Fury.” The attacks have already left major leaders dead, including Iranian Supreme Leader Ayatollah Ali Khamenei, and spurred other strikes across the Middle East region.

OIL MARKETS ON EDGE AS IRAN MOVES TO RESTRICT VITAL STRAIT OF HORMUZ SHIPPING LANE, REPORT SAYS

Iranian retaliation involving drone strikes hit energy infrastructure in Qatar on Monday, prompting QatarEnergy to halt LNG production at key facilities. Qatar’s LNG exports account for nearly 20% of global supply.

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Qatar oil plant hit by Iran drone strike

Early Monday morning, Iranian drones reportedly struck Qatar’s largest oil plant. (Getty Images)

As a result, global benchmark Brent Crude and U.S. crude futures rose sharply, with Brent up more than 8% toward around $79 a barrel and U.S. crude up about 7.6% on Monday amid supply fears.

European energy and natural gas prices also surged in response, underscoring the continent’s continued dependence on imported LNG following its pivot away from Russian gas. Hoffman also noted that major energy importers such as China are significantly reliant on Qatari LNG supplies.

“Countries that are dependent on Middle Eastern reserves are going to have to look closer to home,” Hoffman said. “If you’re relying heavily on foreign suppliers and something like this happens, you’re more exposed to volatility and instability.”

Hoffman argued the United States is less vulnerable than Europe because of its recent surge in domestic production and LNG export capacity. The U.S. recently became the world’s largest net exporter of petroleum products and continues expanding production capacity under Trump administration directives.

That position, she said, provides insulation from external supply shocks.

“We are scaling up production. We’re approving more infrastructure. We’re cutting red tape,” Hoffman said. “If we’re not approving new projects fast enough, that could eventually hold us back.”

Still, she maintained that the U.S. is “in a much stronger position than we would have been” under Biden-Harris policies that constrained domestic production. Hoffman further argued that the Iranian conflict will not fundamentally disrupt American energy goals.

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She pointed to prior geopolitical tensions — including developments involving Venezuela — that did not trigger sustained price spikes.

“It’s early,” she cautioned. “We’re still waiting to see how this unfolds. But recent history shows that markets can adjust more quickly than some forecasts suggest.”

“Energy is now a geopolitical tool,” she continued. “If allies see instability from relying on rogue nations or unstable regions, that could increase demand for American LNG.”

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For now, markets remain in a “wait-and-see mode,” according to Hoffman. Much will depend on whether further infrastructure is targeted and whether the conflict escalates.

“We’re sitting on significant proven reserves,” she said. “With the right policies, America can weather this kind of shock… The lesson here… is that energy policy decisions made years ago determine how resilient you are today.”

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CDC acting director Bhattacharya urges use of measles vaccine

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CDC acting director Bhattacharya urges use of measles vaccine

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Tax reform calculator launched in Guernsey

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Tax reform calculator launched in Guernsey

P&R creates a tax reform calculator for households to see how proposals could affect them.

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Nasdaq Composite Tumbles as Geopolitical Tensions in Middle East Spark Risk-Off Selloff

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The tech sector led record gains in the S&P 500 index. Pictured: a man with umbrella walks past the New York Stock Exchange.

The tech-heavy Nasdaq Composite plunged on March 2, 2026, as escalating conflict in the Middle East following U.S. and Israeli military strikes on Iran triggered a broad retreat from risk assets, sending oil prices surging and amplifying fears of persistent inflation.

The Nasdaq Composite (^IXIC) fell sharply in early trading, dropping around 0.7% to 0.8% intraday, with levels hovering near 22,500 after closing at 22,668.21 on February 27 — down 210 points or 0.92% for that session. The index has now shed ground in recent sessions, reflecting pressure on growth-oriented tech stocks sensitive to higher interest rate expectations and energy cost spikes.

The Nasdaq logo is displayed at the Nasdaq Market site in New York
The Nasdaq logo is displayed at the Nasdaq Market site in New York

Broader markets joined the decline amid the geopolitical shockwaves. The Dow Jones Industrial Average (^DJI) slumped over 1%, shedding more than 500 points in prior close and continuing losses into Monday, while the S&P 500 (^GSPC) dropped roughly 0.8% to 1% near the 6,800 level. Trading volume remained elevated as investors shifted toward safe havens like gold — which climbed past $5,400 per ounce — and the U.S. dollar strengthened.

The catalyst was a series of military actions over the weekend. U.S. and Israeli forces conducted strikes on Iranian targets, prompting retaliatory attacks from Iran that heightened concerns about prolonged regional instability. Brent crude oil jumped above $82 per barrel, while West Texas Intermediate surged toward $73, marking sharp intraday gains of around 13% at one point. Higher energy costs raised the specter of renewed inflationary pressures, potentially delaying anticipated Federal Reserve rate cuts and pressuring equities further.

Tech giants, which dominate the Nasdaq’s weighting, bore much of the brunt. Shares of Nvidia (NVDA), Tesla (TSLA), Amazon (AMZN) and Apple (AAPL) traded lower, with some names down more than 1% to 3% in early action. The sector’s vulnerability stems from its reliance on low borrowing costs for growth; rising yields and inflation fears erode valuations for high-multiple stocks.

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“This is a classic risk-off move,” said one market strategist in a client note. “Geopolitical escalation combined with oil’s spike is forcing a reassessment of Fed policy timing. If crude stays elevated, it could complicate the soft-landing narrative that has supported stocks this year.”

The Nasdaq has struggled in early 2026 after a strong prior period. February marked its worst monthly performance since March of the previous year, with the index down roughly 2.5% year-to-date in some reports, contrasting with the more resilient Dow Jones, up about 1.9% amid rotation into less tech-dependent names. The S&P 500 has shown modest gains of around 0.5% for the year so far.

Despite the pullback, some analysts remain cautiously optimistic on longer-term prospects. Individual investor sentiment stays bullish, with nearly 70% expecting stock market gains in 2026 according to recent surveys, even as half cite recession risks. The market’s resilience has been tested multiple times this year, including repeated challenges around the S&P 500’s 6,800 level.

Energy and defense stocks provided a counterpoint, rallying on bets of sustained higher oil prices and increased military spending. Sectors like traditional energy producers saw sharp gains, while airlines and consumer discretionary names faced headwinds from rising fuel costs.

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Looking ahead, investors are monitoring upcoming economic data, including any inflation readings that could reinforce or ease Fed policy concerns. The VIX, Wall Street’s fear gauge, spiked notably in recent sessions, signaling heightened volatility.

The Nasdaq’s performance reflects broader themes in 2026: a tug-of-war between AI-driven growth optimism and macroeconomic uncertainties. While the index remains well above multi-year lows, its recent retreat underscores sensitivity to external shocks.

Market participants will watch for signs of de-escalation in the Middle East, which could stabilize energy markets and support a rebound in risk assets. Until then, caution prevails as traders navigate the intersection of geopolitics, commodities and monetary policy.

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Mortgage rates jump sharply higher after Iran strikes, reversing last week’s decline

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Mortgage rates jump sharply higher after Iran strikes, reversing last week's decline

An aerial view of homes in San Francisco, Aug. 27, 2025.

Justin Sullivan | Getty Images

After falling below 6%, matching their lowest level in several years, mortgage rates reversed course Monday, hitting their highest point in two weeks.

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The average rate on the popular 30-year fixed loan rose 13 basis points to 6.12%, according to Mortgage News Daily. It had fallen to a recent low of 5.99% on Feb. 23 and pretty much sat there all week.

The drop was welcome news as the all-important spring housing market gets underway. Potential buyers have been sidelined by high home prices and concerns over the broader economy. Mortgage rates crossing into the 5% range broke an emotional barrier for some, suggesting buyers might jump at the opportunity.

Mortgage rates loosely follow the yield on the U.S. 10-year Treasury, which rose back above 4% Monday. The growing conflict with Iran caused a spike in oil prices, raising inflation worries and pushing yields higher.

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Oil prices, however, may not be what’s driving mortgage rates up, according to Matthew Graham, chief operating officer at Mortgage News Daily.

“In fact, versus the 3pm CME close on Friday, bonds were flat until 7am. By that time, oil had already experienced almost all its volatility for the day,” Graham said in emailed comments to CNBC. “The crux of the bond sell-off played out in a vacuum–STRONGLY suggesting Friday’s yields were dragged down by month-end buying and this morning’s selling is ‘new month’ positioning.”

This underscores the possibility that the bond market will view Monday’s move as a technical bounce at the 4% level in 10-year Treasuries, Graham said. This means it could be more challenging for rates to move lower without meaningful motivation from economic data, which there is plenty of this week, including the monthly employment report set for Friday.

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Viavi Solutions EVP McNab sells $116k in stock

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Viavi Solutions EVP McNab sells $116k in stock

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