Morning Report

Risk sentiment fell sharply as Middle East tensions and a global bond rout pushed yields to multi-year highs. Brent oil rose to $109/bbl while major equity indices closed significantly lower.

Key Takeaways

• 1.Risk sentiment has deteriorated significantly due to resurfacing Middle East conflict concerns and the potential for associated inflationary consequences.
• 2.A global bond rout has driven longer-dated yields to multi-year highs, with UK Gilts reaching their highest levels since 2008 and US 10-year Treasuries near 4.6%.
• 3.Oil prices surged toward a two-week high, with Brent near $109/bbl, following a Xi-Trump summit that ended with only minor concessions.

Table of Contents

• Key themes
• Data snapshot
• Today's Insights
• Financial Markets
• International Data
• Local Data
• Corporate Directory

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