Early Morning Reid

Asian markets are lower as investors digest a major escalation in US-Iran tensions. Meanwhile, rising oil prices and higher inflation expectations are exerting upward pressure on global bond yields.

Key Takeaways

• 1.US-Iran tensions have escalated significantly following US strikes on Iranian targets, threatening the fragile peace agreement and disrupting oil markets.
• 2.Rising energy prices and higher inflation expectations have pushed bond yields upward, with the 10yr Treasury yield closing at 4.55%.
• 3.The Reserve Bank of New Zealand raised its official cash rate to 2.50% from 2.25%, signaling a transition to less stimulatory policy.

Table of Contents

• Macro Strategy
• Key Market Data
• Other Market Data
• Key Economic Data
• Topical Deutsche Bank publications
• Appendix 1

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