Rabobank
June 26, 2026
How Resilient
Daily UpdateEquitiesMacro Economic IndicatorsCommoditiesInformation TechnologyEnergy
The report analyzes rising geopolitical tensions near the Strait of Hormuz and their limited impact on energy markets, alongside persistent US inflation and growing caution in the tech/AI sector.
Key Takeaways
- 1.Recent attacks near the Strait of Hormuz have increased geopolitical tension, though energy markets currently assume the Iran-US MOU will remain intact.
- 2.US PCE inflation reached 4.1% in May with core inflation at 3.4%, driven primarily by services, indicating broader stickiness.
- 3.Global markets are showing caution regarding tech and AI, evidenced by significant declines in the Kospi index and broader equity weakness.
Table of Contents
- Market comment
- Day ahead
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Authors
Bas van Geffen
Securities
KOSPIBrent Crude
Themes
Deglobalization and Trade PolicyGeopolitical risk in energy transit corridorsTech sector sentiment and AI valuation
Regions
Middle EastEuropeUnited StatesIranChina