Daily Bulletin

Good morning. The decline in oil prices has lost momentum around the USD 95 level, but prices remain within the downward trend channel that started from the USD 105–110 region. As part of the ongoing United Nations meetings in the US, it was announced yesterday that US and Iranian officials held a three-hour meeting. Despite messages from the US side suggesting that the meeting was productive and raising hopes that...
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Good morning. While U.S. equities posted strong gains yesterday, led by technology companies, U.S. and European futures are slightly positive this morning, and the overall tone in Asia is also buying-led. The fact that U.S. 10-year Treasury yields tested but failed to break above 5% yesterday is also supporting the buying. Domestically, selling pressure continues due to the liquidation process affecting 131 funds....
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Good morning. As the easing in oil prices continues for the fourth consecutive session, buying is flowing into U.S. and European futures as well as Asian equity markets. That said, we remain cautious on the sustainability of this optimistic tone in global risk appetite. Factors such as Iran’s messaging toward the U.S. and its regional allies, and a renewed decline in vessel transits through the Strait of Hormuz,...
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Good morning. Oil prices are moving below the $100 level, while U.S. Treasury yields have also eased back below 5%. Against this backdrop, U.S. and European equities saw strong buying yesterday, while gains are continuing this morning in Asian markets and equity index futures. Despite the Fed moving to its first rate hike in three years and expectations for further rate hikes in the coming months, expectations that...
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Good morning. Following the continued sell-off in global markets yesterday, we are seeing a rebound in risk appetite this morning, supported by stronger-than-expected inventory data in the US, a decline in oil prices, and US 10-year Treasury yields falling below 5%. US and European futures, as well as Asian equities, are broadly trading higher. The Fed’s interest rate decision, expectations, the statement, and...
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Good morning. While oil prices remain elevated, U.S. 10-year Treasury yields are also trading above 5% for the first time since 2023. However, during that period, yields remained above 5% for only one day (October 23, 2023), after which the 10-year yield declined from around 5% to 3.8% over two months, despite the Fed policy rate remaining at around 5.5% for an extended period. During the same period, the S&P...
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Good morning. The US-Iran tensions and oil prices hovering near $100 weighed on US and European equities yesterday, while we are seeing some relief buying in equity index futures this morning. Asian equities, meanwhile, are pricing in the global sell-off seen yesterday. The European Central Bank’s rate decision today, the Fed meeting next week—with inflation data due today and tomorrow ahead of the meeting—and the...
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Good morning. With geopolitical tensions continuing, oil prices are approaching $100, while some institutions, including Goldman Sachs, are raising their forecasts and discussing scenarios in which prices could reach as high as $120, weighing on global risk appetite. In addition, the appreciation of the Japanese Yen and its approach toward one-year highs against the US dollar are raising concerns over the potential...
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