Bonds, Ozempic, and Ticketmaster: What Else Moved Markets Today

Oil grabbed the headlines, but Monday delivered three other stories worth your attention: a global bond sell-off tied to stagflation fears, a truce in the weight-loss drug war, and a $280 million reckoning for Ticketmaster.

Bonds sold off as stagflation fears rose

As oil surged toward $120 a barrel, bond markets around the world sold off sharply. 10-year US Treasury yields climbed 7 basis points, the largest single-day move since January. Australian 3-year yields hit their highest level since 2011; German bund futures fell to a near-15-year low. Traders who expected a Fed rate cut by July have now pushed that to September. Some bond options traders are pricing in no cuts at all in 2026. Markets recovered some ground after Trump suggested the Iran conflict may end soon, and reports emerged that G7 finance ministers are considering a joint oil reserve release with the IEA.

Hims & Hers and Novo Nordisk called a truce

Novo Nordisk dropped its patent infringement lawsuit against telehealth provider Hims & Hers. Under the deal, Hims will sell branded Ozempic and Wegovy at market price through its platform, and will stop advertising compounded GLP-1 drugs. Hims stock surged more than 40% on the news; Novo rose 2.1%. The dispute started in February when Hims began selling a $49 compounded semaglutide pill, roughly $100 cheaper than Novo’s branded version, using a loophole that allowed compounding while the drug was listed as in shortage. The FDA had threatened action against compounding pharmacies. Eli Lilly’s competing weight-loss pill, orforglipron, is expected to reach FDA approval in Q2, which makes this a deal Novo needed to lock down before the market got more crowded.

Ticketmaster agreed to pay $280 million

Live Nation reached a settlement with the Department of Justice, ending the 2024 antitrust case against its Ticketmaster unit. The terms: $280 million in civil penalties, Ticketmaster opens its platform so rivals like SeatGeek can use its technology, and Live Nation unwinds 13 exclusive booking deals with US amphitheaters. Ticketmaster controls around 80% of major concert venue ticketing. Live Nation stock rose 5%. The deal faces a real obstacle: more than 20 state attorneys general, led by New York AG Letitia James, rejected it as too lenient, saying it benefits Live Nation at consumers’ expense. It still requires court approval.

Quick hits

• The S&P 500 recovered from a 1.5% morning drop to close down just 0.18%, as oil pulled back after Trump’s comments on the Iran conflict.
• Bitcoin rose 2.1% to $70,282, continuing a quiet recovery while equity markets stayed volatile.

What to watch

• Any formal White House announcement on ending the Iran conflict would immediately move oil, bonds, and equities.
• Fed speakers this week: how they frame the stagflation risk will set expectations ahead of the next FOMC meeting.
• State AG votes on the Ticketmaster settlement could block or reshape the deal before it takes effect.