Overnight Headlines 14th July 2026

Morning Market Pack

Tuesday, 14 July 2026 · Market data captured around 06:03 BST

Overnight theme: Middle East escalation kept oil near the centre of the market narrative, while Asian equities weakened and US Treasury yields rose ahead of US CPI and Fed Chair Kevin Warsh’s first semiannual testimony to Congress.

Top Headlines

1. US launches air strikes as Iran targets tankers with cruise missilesUS-Iran hostilities intensified again around the Strait of Hormuz, keeping the energy risk premium elevated.
2. Oil surges past $80 on Trump threat to impose 20% Hormuz feeThe proposed cargo charge and renewed blockade threat add a fresh inflation and shipping-cost risk.
3. Nvidia halves Asia buyer list in China chip crackdownTighter vetting of Asian AI-chip customers underlines the widening reach of US export controls.
4. Fed Chair Warsh faces Congress as markets await policy cluesWarsh’s first semiannual testimony as chair comes immediately after the US CPI release.
5. The Federal Reserve’s Semi-Annual Monetary Policy ReportHouse Financial Services Committee hearing begins at 10:00 a.m. ET / 14:00 GMT.
6. China exports and imports rise faster than forecast on AI demandJune trade figures were stronger than expected, offering some support to Chinese assets.
7. Japan bond sale draws high demand after GPIF remarksThe 20-year JGB auction drew a 4.52 bid-to-cover ratio and the yield fell 11.5 bp to 3.630%.

Asia-Pacific Equities

INDEX	LEVEL	NET	CHANGE
Nikkei 225	66,995.47	-247.26	-0.37%
Shanghai Composite	3,887.923	-25.872	-0.66%
Shenzhen Component	14,461.201	-61.653	-0.43%
Hang Seng	24,099.89	-113.83	-0.47%
ASX 200	8,775.40	-33.10	-0.38%
Kospi	6,686.13	-120.80	-1.77%
Straits Times	5,464.06	-6.28	-0.11%
NZX 50	13,617.44	-105.76	-0.77%

US Cash Close

INDEX	CLOSE	NET	CHANGE
Dow Jones	52,498.64	-138.37	-0.26%
Nasdaq Composite	25,873.176	-408.431	-1.55%
S&P 500	7,515.34	-60.05	-0.79%
Russell 2000	2,953.166	-24.639	-0.83%
VIX	17.16	+2.13	+14.17%
TSX Composite	35,252.72	-52.59	-0.15%
TSX 60	2,084.47	+1.58	+0.08%
Mexico IPC	65,973.08	-523.02	-0.79%
Bovespa	175,739.08	-2,127.29	-1.20%

US Futures

CONTRACT	LAST	DAY NET	DAY %	IMPLIED OPEN	IMPLIED %
Dow futures	52,678.0	-86.00	-0.16%	-55.64	-0.11%
S&P futures	7,558.75	-4.25	-0.06%	-8.59	-0.11%
Nasdaq futures	29,489.5	+13.75	+0.05%	+25.40	+0.09%
Russell 2000 futures	2,968.1	-2.30	-0.08%	-11.07	-0.37%

US Treasury Yields

MATURITY	YIELD	YIELD CHANGE	BASIS POINTS
US 6-month	4.005%	+0.003	+0.3 bp
US 1-year	4.132%	+0.018	+1.8 bp
US 2-year	4.284%	+0.021	+2.1 bp
US 3-year	4.319%	+0.020	+2.0 bp
US 5-year	4.379%	+0.016	+1.6 bp
US 7-year	4.497%	+0.015	+1.5 bp
US 10-year	4.622%	+0.012	+1.2 bp
US 20-year	5.122%	+0.009	+0.9 bp
US 30-year	5.104%	+0.006	+0.6 bp

FX

PAIR	PRICE	NET	CHANGE
USD/JPY	162.29	-0.13	-0.08%
EUR/USD	1.1392	+0.0011	+0.0967%
GBP/USD	1.3357	+0.0011	+0.08%
EUR/GBP	0.8524	-0.0001	-0.0117%
AUD/USD	0.6933	+0.0017	+0.25%
NZD/USD	0.5788	+0.0040	+0.6959%
USD/CHF	0.8136	-0.0008	-0.0982%
USD/CAD	1.4129	-0.0025	-0.1766%
USD/CNY	6.7815	+0.0020	+0.03%
USD/KRW	1,487.20	-10.36	-0.6918%

Commodities

INSTRUMENT	PRICE	NET	CHANGE
WTI crude (Aug)	$79.83	+$1.69	+2.16%
Brent crude (Sep)	$84.94	+$1.64	+1.97%
Gold	$4,020.47	+$18.10	+0.45%
Natural gas (Aug)	$2.887	-$0.010	-0.35%
RBOB gasoline (Aug)	$3.1923	+$0.0260	+0.82%
Heating oil (Aug)	$3.8969	+$0.0733	+1.92%
Uranium (Jul)	$85.45	Unchanged	0.00%

Economic Calendar — GMT

TIME	CUR.	EVENT	FORECAST	PREVIOUS
08:45	GBP	BoE Governor Bailey speaks	—	—
12:15	USD	ADP employment change, weekly	—	21K
12:30	USD	Core CPI MoM (Jun)	0.2%	0.2%
12:30	USD	Core CPI YoY (Jun)	2.8%	2.9%
12:30	USD	CPI MoM (Jun)	-0.1%	0.5%
12:30	USD	CPI YoY (Jun)	3.8%	4.2%
13:00	EUR	ECB President Lagarde speaks	—	—
14:00	USD	Fed Chair Kevin Warsh testifies to House Financial Services Committee	—	—
16:40	USD	Fed Vice Chair for Supervision Barr speaks	—	—
18:55	USD	FOMC member Bowman speaks	—	—
20:00	GBP	BoE Governor Bailey speaks	—	—
20:00	USD	TIC net long-term transactions (May)	128.5B	103.1B
20:30	USD	API weekly crude oil stock	—	-0.399M

Market Commentary

Risk tone: Asian equities were broadly lower, led by the Kospi’s 1.77% decline. The weakness follows a reassessment of crowded Asian semiconductor exposure, while renewed US-Iran strikes and threats around commercial shipping through Hormuz add another layer of risk aversion.

Oil and inflation: WTI rose 2.16% to $79.83 and Brent gained 1.97% to $84.94. With the Strait of Hormuz dispute unresolved, energy remains the clearest transmission route from geopolitics into inflation expectations. That makes today’s US CPI release especially important.

Rates: The Treasury curve shifted higher, with the 2-year up 2.1 bp to 4.284% and the 10-year up 1.2 bp to 4.622%. The move suggests investors are demanding more inflation and policy risk premium rather than seeking a straightforward geopolitical safe haven.

Japan: The 20-year JGB auction drew strong demand, with a bid-to-cover ratio of 4.52 versus 2.97 previously. The 20-year yield fell 11.5 bp to 3.630% after the sale, supported by speculation that GPIF may reassess domestic asset allocations.

US focus: CPI lands at 12:30 GMT. Consensus expects headline inflation to slow to 3.8% year on year and core CPI to ease to 2.8%. Fed Chair Kevin Warsh then appears before the House Financial Services Committee at 14:00 GMT. His comments on inflation persistence, the balance sheet and the future path of rates may generate a second wave of volatility after the data.

Overnight Headlines July 13th 2026

 

Morning Market Pack

Monday 13 July 2026 • Market data captured around 06:30 BST

Top Headlines

U.S. and Iran vie for control of the Strait of Hormuz as fresh strikes intensify

Oil jumps and Asian equities slide after renewed U.S.–Iran airstrikes

SK Hynix sinks in Seoul after its record $26.5bn U.S. debut

Preliminary findings say Lindsey Graham died from an aortic tear

Washington begins the scramble to replace Senator Lindsey Graham

U.S. futures fall as crude rises roughly 4% on renewed conflict risk

Wall Street ended Friday higher, but geopolitical risk dominates Monday’s open

Asia-Pacific

Index	Price	Net	Change
Nikkei 225	66,938.38	-1,619.35	-2.36%
Shanghai Composite	3,934.74	-61.422	-1.54%
Shenzhen Component	14,654.494	-392.176	-2.61%
Hang Seng	24,148.53	-26.59	-0.11%
ASX 200	8,794.90	-11.10	-0.13%
KOSPI	6,880.97	-594.97	-7.96%
Straits Times	5,454.84	-14.45	-0.26%
NZX 50	13,723.20	-62.47	-0.45%

U.S. Cash Close — Friday

Index	Close	Net	Change
Dow Jones	52,637.01	+149.60	+0.29%
Nasdaq Composite	26,281.607	+74.717	+0.29%
S&P 500	7,575.39	+31.75	+0.42%
Russell 2000	2,977.805	-14.736	-0.49%
VIX	15.03	-0.81	-5.11%

U.S. Pre-Market

Contract	Futures	Day Change	Implied Open
Dow Futures	52,710.0	-196.00 (-0.37%)	-157.01 (-0.30%)
S&P Futures	7,579.75	-40.50 (-0.53%)	-46.64 (-0.61%)
Nasdaq Futures	29,646.75	-385.50 (-1.28%)	-373.36 (-1.24%)
Russell 2000 Futures	2,972.3	-21.70 (-0.72%)	-30.50 (-1.02%)

U.S. Treasuries

Maturity	Yield	Move
6-Month	3.971%	+1.3 bp
1-Year	4.087%	+2.1 bp
2-Year	4.235%	+2.7 bp
3-Year	4.271%	+2.6 bp
5-Year	4.333%	+2.3 bp
7-Year	4.454%	+2.4 bp
10-Year	4.589%	+2.0 bp
20-Year	5.100%	+2.0 bp
30-Year	5.087%	+1.6 bp

FX

Pair	Price	Net	Change
USD/JPY	162.06	+0.37	+0.23%
EUR/USD	1.1398	-0.0015	-0.1314%
GBP/USD	1.3377	-0.0028	-0.2089%
EUR/GBP	0.8519	+0.0008	+0.09%
AUD/USD	0.6924	-0.0026	-0.3741%
NZD/USD	0.5752	-0.0007	-0.1215%
USD/CHF	0.8097	+0.0013	+0.1608%
USD/CAD	1.4159	+0.0006	+0.04%
USD/CNY	6.7850	+0.0084	+0.12%
USD/KRW	1,506.80	+7.95	+0.5304%

Commodities

Commodity	Price	Net	Change
WTI Crude (Aug ’26)	$74.52	+$3.11	+4.36%
Brent Crude (Sep ’26)	$79.27	+$3.26	+4.29%
Natural Gas (Aug ’26)	$2.903	-$0.037	-1.26%
RBOB Gasoline (Aug ’26)	$3.0691	+$0.0845	+2.83%
Heating Oil (Aug ’26)	$3.6739	+$0.1206	+3.39%
Gold	≈ $4,061/oz	-$59.75	-1.45%

Gold price is approximate because the final digits were obscured in the source screenshot; the displayed net and percentage changes are as shown.

Economic Calendar — GMT

Time	Currency	Event	Forecast	Previous
09:25	USD	FOMC Member Bowman speaks	—	—
10:00	USD	OPEC meeting	—	—
16:30	USD	Fed Governor Waller speaks	—	—
16:45	EUR	ECB’s Schnabel speaks	—	—
18:00	GBP	BoE MPC Member Pill speaks	—	—
18:00	USD	Federal Budget Balance (Jun)	-132.8B	-293.0B
21:00	EUR	ECB President Lagarde speaks	—	—

Market Commentary

The week opens with a clear risk-off tone. Renewed U.S.–Iran strikes and competing claims over control of the Strait of Hormuz have pushed WTI and Brent more than 4% higher, lifted Treasury yields and strengthened the dollar against the euro and sterling. Equity pressure is most severe in Asia, where the KOSPI is down almost 8% and the Nikkei is off more than 2%; SK Hynix’s sharp post-listing reversal is amplifying the regional technology sell-off.

U.S. futures point to a softer open, led by the Nasdaq, as investors weigh higher energy costs against the strong AI-led close on Friday. The move higher in both oil and Treasury yields is the key cross-asset signal: markets are pricing a renewed inflation risk rather than a conventional flight to safety. Gold’s decline alongside a stronger dollar reinforces that interpretation.

Today’s scheduled calendar is comparatively light, but the OPEC meeting and remarks from Bowman, Waller, Pill, Schnabel and Lagarde could all move markets. The immediate focus will remain on Hormuz shipping conditions, any verified damage to U.S. bases in the Gulf, and whether the weekend escalation broadens or begins to de-escalate.