Morning Line Express

Latest edition · August 26, 2026

Markets await Nvidia and Jackson Hole while keeping a close eye on developments in Hormuz

Risk appetite rebounded globally as Brent crude dropped on potential progress toward a Strait of Hormuz shipping corridor agreement. Investor attention now turns to US Q2 GDP and Core PCE data, Nvidia's quarterly earnings, and the upcoming Jackson Hole symposium.

Global equity and fixed-income markets saw a recovery in risk sentiment driven by a 4% decline in Brent crude to $88.6/bbl following talks between Iran and Oman over a temporary shipping corridor in the Strait of Hormuz. European sovereign bond yields eased, with the 10-year Bund falling to 3.22% and sovereign spreads tightening, despite a 95% probability priced for an ECB rate hike in September. German economic sentiment rebounded with the August Ifo Business Climate Index rising to 88.8 and Q2 GDP confirmed at 1.0% y/y. Today, investor focus centers on key US data prints (Q2 GDP revision, July PCE/Core PCE), Nvidia's quarterly earnings, ECB minutes, and central banker commentary heading into Jackson Hole.

Key takeaways from the latest edition

• 1.Risk appetite recovered across global equities and fixed income as oil prices dropped 4% following Iran-Oman discussions over a temporary shipping corridor in the Strait of Hormuz.
• 2.Key near-term market drivers include US economic releases (Q2 GDP, July Core PCE), Nvidia's quarterly earnings, the ECB July meeting minutes, and central banker speeches at Jackson Hole.
• 3.European bond yields eased with curve bull steepening, while German macro indicators surprised to the upside with August Ifo rising to 88.8 and Q2 GDP revised up to 0.3% q/q (1% y/y).

What this series covers

• MARKET LINES
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Edition archive

• Markets await Nvidia and Jackson Hole while keeping a close eye on developments in Hormuz

  August 26, 2026

• Nvidia lifts sentiment before Jackson Hole

  August 26, 2026

• Waiting for Jackson Hole

  August 25, 2026

• The Morning Line is back

  August 17, 2026

• A week largely dominated by the United States

  July 10, 2026

• Natixis Morning Line Express 20260629

  June 29, 2026