Westpac Banking Corporation
May 14, 2026
Morning Report
Daily UpdateCommoditiesRates Govt BondsEquitiesEnergyInformation Technology
Global markets are unsettled as oil prices surged past $104 after US President Trump rejected Iran's peace proposal. Bond yields rose globally, with UK Gilts hit hardest by domestic political instability.
Key Takeaways
- 1.Heightened Middle East tensions after US President Trump rejected Iran's peace proposal caused oil prices to surge, with Brent rising above $104.
- 2.Global bond markets faced significant selling pressure; UK Gilts underperformed particularly sharply due to mounting political pressure on PM Keir Starmer.
- 3.China's April inflation data surprised to the upside, with CPI rising to 1.2% and PPI jumping to 2.8%, driven largely by transport and energy costs.
Table of Contents
- Key themes
- Data snapshot
- Financial Markets
- Today's key data and events
- International Data
- Corporate Directory
- DISCLAIMER
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Authors
Mantas Vanagas
Securities
Brent Crude OilSPXUK 10Y GiltUS 10y TreasuryCopper
Themes
Middle East Geopolitical TensionInflationary Impulse from EnergyUK Political Instability
Regions
North AmericaEuropeUKUnited StatesUnited KingdomAustralia