Global markets were volatile as conflicting reports over Iran negotiations sent oil prices and bond yields higher, while US manufacturing data hit a four-year high.
Key Takeaways
- 1.Middle East geopolitical tensions caused significant volatility, with initial reports of Iran halting talks sending oil prices up before President Trump confirmed negotiations were ongoing.
- 2.US manufacturing momentum remains strong with the May ISM rising to 54.0, its highest level in four years.
- 3.The Kiwi dollar showed resilience despite offshore volatility, while US bond yields rose on Middle East headlines.
Table of Contents
- Highlights
- Data and events today
- Financial markets
- Global markets overview
- Key data and events
- Key themes and views
- Important Notice
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Authors
Matthew GaltDavid CroyBrian Martin
Securities
NZD/USDS&P 500WTI OilUS 10yr Treasury NoteXAU
Themes
Middle East Geopolitical RiskUS Manufacturing Resilience
Regions
Asia PacificNorth AmericaMiddle EastNew ZealandUnited StatesAustralia