Early Morning Reid

Global markets are navigating mixed signals as geopolitical risk in the Middle East offsets resilient US economic data and strong Japanese GDP figures.

Key Takeaways

• 1.Middle East geopolitical tensions continue to drive volatility, with markets reacting positively to temporary strike delays but remaining wary of a lack of a formal deal between the US and Iran.
• 2.Japan's Q1 2026 GDP growth beat expectations at 2.1% annualised, strengthening the case for Bank of Japan interest rate hikes despite regional uncertainty.
• 3.The US economy shows ongoing resilience with service sector activity hitting a 16-month high, even as tech stocks lead a minor pullback in broader equity markets.

Table of Contents

• Other Market Data
• Key Economic Data
• Topical Deutsche Bank publications
• Analyst Certification
• Important Disclosures
• Additional Information

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