The United States and Israeli forces are currently engaged in "Operation Epic Fury" in Iran, with no ceasefire in sight. The Federal Reserve is set to make its March rate decision at 2:00 p.m. ET. Since the start of the war, WTI crude oil futures have risen by approximately 40% from a pre-war level near $68 per barrel. The Strait of Hormuz remains closed to commercial tanker traffic and the probability of normal tanker traffic resuming by April 30 continues to decrease. The 10-year U.S. Treasury yield has dropped nearly 2 basis points to approximately 4.21%. The market's fear gauge, the CBOE Volatility Index, has pulled back from 27.19 to 23.78 but remains elevated above pre-battle levels.