Early Morning Reid

The market outlook is being defined by a hawkish turn from the US Federal Reserve under new Chair Kevin Warsh and a reduction in Middle East geopolitical tensions. Investors are monitoring upcoming global flash PMI data and US core PCE inflation numbers.

Key Takeaways

• 1.Developments in the Middle East have turned more constructive with US-Iran talks in Switzerland showing progress toward a potential 60-day roadmap.
• 2.The Fed's outlook has shifted with economists now projecting two 25bps rate hikes in 2026 (September and December) under new Chair Kevin Warsh.
• 3.Market volatility continues regarding potential UK political shifts and the 10th anniversary of the Brexit vote.

Table of Contents

• Day-by-day calendar of events
• Other Market Data
• Key Economic Data
• Topical Deutsche Bank publications:
• Appendix 1
• Additional Information

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