Prices of comparable sukuk and bonds maintained a strong correlation through 2025 and into mid-January 2026, continuing a seven-year pattern despite occasional brief periods of volatility, Fitch ...

There's no sense in overcomplicating today's trading session. Oil was down significantly and so were bond yields. The correlation was very strong after 4am ET with each major peak and valley aligning.

As with any such correlation, one has to entertain the notion that said correlation might be spurious or indirectly related before assuming a strong causal link. Here it is for example known already ...