Duck Hunt

This report covers the escalation of hostilities between the US and Iran in the Strait of Hormuz and its impact on energy prices. It also discusses the EU's new trade investigation into Chinese poultry imports and the upcoming week's macroeconomic calendar.

Key Takeaways

• 1.Geopolitical escalation in the Strait of Hormuz has led to direct military exchanges between Iran and the US, forcing energy prices higher.
• 2.The European Commission has initiated an investigation into Chinese duck meat imports, signaling further potential trade friction.
• 3.Markets are watching the June US CPI print (expected at 3.8% y/y) and the testimony of new Fed Chair Warsh.

Table of Contents

• Market comment
• Week ahead

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