Multi-Asset Morning Pack – 13 April 2026 (06:00 UK)
Asia weak, oil shock driving cross-asset price action, and US futures under pressure into the European handover.
Asia Session
- Nikkei 225: 56,491.89 (-0.76%)
- Hang Seng: 25,618.76 (-1.06%)
- KOSPI: 5,801.98 (-0.97%)
- ASX 200: 8,919.30 (-0.46%)
- Shanghai: 3,979.67 (-0.16%)
- Shenzhen: 14,340.803 (+0.22%)
Desk take: broad Asia risk-off, with China relatively steadier than the rest of the region. The dominant macro driver remains the energy shock.
Top Overnight Headlines
-
Oil up over 7% to above $100 ahead of US blockade on Iran
WTI and Brent both surged as the market repriced supply disruption risk. -
US to blockade Iran ports after talks fail to yield a deal
Talks broke down, leaving the market focused on enforcement risk and escalation. -
Oil tankers steer clear of Hormuz ahead of US blockade
This is the key physical-market tell: rerouting behaviour suggests disruption is already starting. -
US military says it will start blockade of all ships going to and from Iran on Monday
Implementation timing matters because it brings a live event risk into today’s session. -
Oil leaps, dollar firm and stocks wobble as US-Iran peace talks collapse
Good cross-asset wrap linking oil, yields, dollar tone and equity weakness. -
Orban ousted after 16 years as Hungarians flock to pro-EU rival
Big political shift in Europe, though secondary for markets versus oil. -
Hungarian forint jumps after Orban's election defeat
Useful market angle on the Hungary result.
Cross-Asset Snapshot
| US Close | Dow 47,916.57 (-0.56%) |
| S&P 500 6,816.89 (-0.11%) | |
| Nasdaq 22,902.894 (+0.35%) | |
| Russell 2000 2,630.588 (-0.22%) | |
| VIX 19.23 (-1.33%) | |
| US Futures | Dow Fut 47,806.0 (-0.67%) |
| S&P Fut 6,807.75 (-0.69%) | |
| Nas Fut 25,080.5 (-0.79%) | |
| Russ 2K Fut 2,610.8 (-1.27%) | |
| UST Yields | 2Y 3.833% (+3.2bp) |
| 5Y 3.974% (+3.5bp) | |
| 10Y 4.347% (+3.0bp) | |
| 30Y 4.937% (+2.3bp) | |
| Commodities | WTI $104.72 (+8.44%) |
| Brent $102.21 (+7.36%) | |
| Nat Gas 2.669 (+0.79%) | |
| RBOB 3.1774 (+4.61%) | |
| ULSD Heating Oil 4.09 (+8.73%) |
Macro Take
This is now a live supply shock setup rather than a pure headline-driven move. Oil is leading, yields are backing up, and equity futures are rolling over. Tanker rerouting is the clearest sign that the market is dealing with more than just rhetoric.
What Matters Today
- Any confirmation on blockade enforcement mechanics
- Further moves in crude through the $105–110 zone
- Shipping and insurance reaction
- Whether US cash equities accelerate lower at the open
Bottom line: Oil is the lead asset. Equities, bonds and FX are reacting to it rather than driving the session.
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