Global markets are rallying on the perception that recent Middle East hostilities are contained. Meanwhile, hawkish ECB minutes point to a potential rate hike in September despite weak US housing data.
Key Takeaways
- 1.Global equities rose while bond yields and oil prices declined as markets perceived Middle East tensions to be contained.
- 2.ECB meeting minutes suggest a September rate hike is likely due to concerns regarding persistent underlying inflation.
- 3.US housing market activity remains suppressed, with existing home sales falling 2.4% in June.
Table of Contents
- Highlights
- Today (AEST)
- Global markets overview
- Data/event pulse
- Key themes and views
- Market at 6:45am today
- Key data releases
- What's ahead today
- Commodities
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Authors
Jack ChambersBrian MartinDaniel Hynes
Securities
S&P 500US 10y Treasury
Themes
Central Bank monetary policy (ECB hawkishness)Geopolitical risk in the Middle EastHousing market suppression
Regions
Middle EastEuropeAsia PacificUnited StatesIranQatar