Report published September 23, 2026
Westpac Morning Report: Middle East Headlines, Tech Equities, and Central Bank Expectations (23 September 2026)
Westpac · September 23, 2026
Conflicting geopolitical headlines between the US and Iran left financial markets largely unchanged overnight. Equities displayed modest gains led by tech, Treasury yields were flat, and Brent crude fell 1.9% to US$98.5/bbl.
Read the remaining 4 pages
Finvaulta summarizes Westpac's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.Mixed US-Iran headlines left market risk assessments little changed, as President Trump's UN speech threats were offset by reports of productive official discussions.
- 2.Global equities were mixed but buoyed by tech momentum (NASDAQ +0.5%, ASX 200 +0.3%), while Treasury yields were little changed with markets pricing an over 50% chance of an October FOMC rate hike.
- 3.Commodities saw Brent crude decline 1.9% to US$98.5/bbl on diplomatic talks, while copper rose to US$14,748/mt on tight supply and firm Chinese demand.
Table of Contents
- Key themes
- Data snapshot
- Financial Markets
- Today’s key data and events
- International Data
- Local Data
Report data
FX Last 24 hrs — as of September 23, 2026.
| Metric | Estimate | Context |
|---|---|---|
| Brent Crude Price | 98.5 USD/bbl | Slipped due to reports of productive discussions between US and Iranian officials. |
| LME Copper Price | 14,748 USD/mt | Extended rally on Chinese demand, tight supply, and US tariff uncertainty. |
| Gold Price | 4361.96 USD/oz | Pared earlier losses to finish higher. |
| US 10-Year Treasury Yield | 4.96% | Edged slightly higher as earlier gains unwound. |
| US 2-Year Treasury Yield | 4.75% | Yield finished higher with latest auction seeing highest demand yield since 2024. |
Reports in this series
Morning Report is shown in chronological order through this edition, published on September 23, 2026.
Part of the Morning Report series — view all 29 editions
Looking for the latest edition? WBC MorningReport28Sep2026 (Sep 28, 2026)
Access the full report
And others from the leading tier 1 banks.
Free account: read previews and a daily allowance of full reports. Pro removes the daily limit.