New Zealand Morning Focus

Global markets are under pressure as President Trump announces a blockade of Iranian ships and a new transit fee for the Strait of Hormuz. Bond yields are rising globally, while energy prices have spiked significantly.

Key Takeaways

• 1.President Trump announced plans to block Iranian ships in the Strait of Hormuz and impose a 20% fee on other cargo for safe passage.
• 2.Bond markets saw significant volatility with yields rising across global benchmarks amid escalating geopolitical risks.
• 3.WTI oil prices rallied 8.8% following the heightened tensions in the Middle East.

Table of Contents

• Highlights
• Data and events today
• Financial markets
• Global markets overview
• Key data and events
• Key themes and views
• Market snapshot (07:15 NZ Time)
• Key data releases
• What's ahead today

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