This escalation of tensions between the U.S. and Iran led to a nearly 9% plunge in crude oil prices, with WTI closing at $81.94 and Brent at $87.81, triggering a bull flattening of global interest rates, with long-term yields falling more than short-term yields, compressing the yield curve’s slope, with declines of up to 4 bps in Europe and 3 bps at the long end of the...

A positive session for global equities amid a sharp rally in semiconductors and memory companies, leading to a 1.3% gain in the Nasdaq and a 0.9% gain in the S&P 500, following gains in Asia and, to a lesser extent, in Europe. In commodities, crude oil continues to rise, closing 2% above the price...

Global yields rose at the start of the week, led by U.K. gilts, which rose as much as 9 basis points following the confirmation of the new cabinet, followed by Treasuries, which rose as much as 5 basis points amid a new surge in oil prices, with WTI closing at $84 and Brent at $90—the highest level in five weeks...

Inflation in the U.S. in June was significantly lower than expected, with the monthly headline rate falling 0.4% and the core rate coming in at 0.0% (vs. -0.1% and +0.2% expected, respectively), while the annual headline rate was 3.5% and the core rate was 2.6% (vs. 3.8% and 2.8%, respectively). As expected, assets at the...

Trump announced yesterday that the U.S. had reactivated the blockade of the Strait of Hormuz, adding today that they would strike Iran hard today and tomorrow, causing a 10% rise in crude oil prices, with WTI returning to $78 and Brent to $83. In equities, U.S. indices fell, led by the Nasdaq, which dropped 1.55% amid a rise in...