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Asia Open: Markets Rally Despite Sticky Inflation and ECB Hike
Risk assets surged in Asia as markets ignored sticky inflation, an ECB rate hike, and geopolitical tensions, with stocks and bonds both rallying sharply.
Asian Stocks Rise on Easing US-Iran Tensions, SpaceX Debut in Focus
Asian equities advanced on Friday as US President Donald Trump indicated a peace agreement with Iran could be finalized soon, lowering oil prices and boosting risk sentiment. Markets also awaited the debut of SpaceX.
Gold Price Forecast: Downside Risks Persist with Bear Cross
Gold prices returned to negative territory on Friday after a short-covering rally above $4,200. The metal faces a bear cross and is on track for a second consecutive weekly loss, with YTD lows near $4,000 in focus.
Silver Price Slips to Near $67.00 as Middle East Tensions Flare
Silver (XAG/USD) edged lower to around $67.00 during Asian trading on Friday, giving back some of the previous day’s 6% gain as fresh military friction in the Middle East dampened diplomatic optimism.
US Intercepts Iranian Drones Near Strait of Hormuz
US forces intercepted and shot down two Iranian one-way attack drones near the Strait of Hormuz after Iran attempted to target commercial vessels in the waterway, Fox News reported.
WTI Holds Near $85 as Trump Signals Possible Iran Deal
WTI crude oil stabilizes around $85.00 per barrel after a 5.5% decline, as former President Trump hints at a potential agreement with Iran that could increase global supply.
US Ground Beef Prices Hit Record $7.06/lb, Up 13% YoY as Cattle Herd Shrinks to 75-Year Low
The average price of US ground beef rose 13% year-on-year in May to a record $7.06 per pound, while steak prices surged 16% to $12.80. The US cattle herd has fallen to its smallest in 75 years, constrained by drought, high production costs, and a screwworm outbreak in Texas.
Turnaround Tuesday Pattern Explained as Weekend Fear Cycle
The frequently cited 'Turnaround Tuesday' pattern is not merely a market cliché but a manifestation of the weekend fear cycle, according to trading commentary.
Big Tech's AI Push Drives Record $159B Corporate Bond Issuance
Alphabet, Amazon, Meta, Microsoft, and Oracle have issued a record $159 billion in corporate bonds in 2026, already surpassing the full-year 2025 total by 47% and exceeding the combined $150 billion issued from 2020 to 2024. AI-related global debt issuance is expected to double to about $570 billion in 2026.
US-Iran Deal Proposal: Ceasefire, Hormuz Reopening, Sanctions Relief
A proposed US-Iran deal includes a 60+ day ceasefire, reopening of the Strait of Hormuz within 30 days, phased sanctions relief tied to resumed Iran oil exports, and continued nuclear talks, according to Al Arabiya.
WTI Retreats to $85 Amid Middle East Peace Hopes
West Texas Intermediate crude oil fell to around $85, its lowest since mid-April, as optimism over a resolution to the Middle East conflict pressured prices.
Trump Says Iran Deal Near Final, Cancels Military Strikes
President Trump announced he has called off planned military strikes against Iran, citing an agreement that is in its final shape.
Trump Says Iran Deal Approved by Supreme Leader, Signing 'Coming Soon'
President Trump announced that Iran's Supreme Leader has approved a US-Iran deal, with details including the lifting of the US naval blockade, a memorandum of understanding, and the shelving of the Kharg Island operation. US oil prices extended losses on the news.
Rising Treasury Yields Pose Biggest Threat to Equities Since 2008
The 3-month correlation between the 10-year Treasury yield and the S&P 500 has reached -0.62, the most negative in at least 15 years, meaning stocks fall when yields rise.
Silver Rallies 4% on Trump's Iran Strike Cancellation, Bias Bearish
Silver (XAG/USD) bounced over 4% from daily lows near $61.50 after US President Trump canceled planned attacks on Iran, though the outlook remains bearish.
Standard Chartered: China May Data Shows Solid Production, Weak Demand
Standard Chartered economists note China's May economic data revealed robust industrial output but continued soft demand, keeping the recovery uneven.
Pentagon Partially Evacuated Over Possible Air Quality Issue
The Pentagon was partially locked down and evacuated after hazmat monitors detected a possible air quality issue. Hazmat teams from the Pentagon and Arlington County Fire Department are responding; no injuries have been reported.
CENTCOM: Strait of Hormuz Open for Transit, US Forces Postured Against Iran
The US Central Command has declared the Strait of Hormuz open for transit, with safe pathways for non-blockaded vessels, hundreds of ships having passed in two months, and US forces ready to defend against Iranian aggression. Iran does not control the strait, CENTCOM stated.
Iran Military Warns of Wider War and Threatens to Halt Oil Exports
Iran's top joint military command warned that 'the fire of war' will spread and cause regional insecurity, and declared that oil and gas exports must either be for everyone or for no one.
Iran Warns of 'More Severe' Response to Any US Attack
Iran's top joint military command has blamed contradictory US behavior for regional insecurity, especially in the Strait, and threatens a harsher response if the US attacks again.
Oil Drops as US-Iran Talks Ease Supply Worries, Focus on Fed
West Texas Intermediate crude slipped 0.86% to around $89.50 on Thursday as diplomatic progress between the US and Iran reduced supply disruption fears, while traders look ahead to the Federal Reserve's rate decision.
US Equity Outflows Hit Record $13.9B, Led by Tech Stocks
Last week saw $13.9 billion in US equity outflows, the largest single-stock withdrawal since 2008, with technology stocks leading at a record $10.8 billion in sales.
Trump Orders Second Round of Strikes on Iran, Seeks Deal
President Trump ordered a second wave of strikes against Iran on Wednesday, frustrated that Tehran was not taking the initial strikes seriously. He posted on Truth Social that a new, harder round was incoming.
Trump Furious Over Perceived Weak Response to Iran Strikes
President Trump was reportedly angry this week after ordering new strikes on Iran, believing that both Tehran and the media did not view the action as sufficiently powerful, according to two people familiar with his reaction.