Multi-Asset Morning Pack – 23 April 2026
06:00 UK | Asia-led handover | Macro / Equities / Rates / FX / Commodities / Headlines
Overnight Narrative
Wall Street closed at fresh highs on Wednesday, but Asia failed to follow through as rising oil and renewed Strait of Hormuz tension pulled risk sentiment back overnight. Brent held above $103 and WTI above $94, Treasury yields pushed higher, and US futures turned lower into the European handover. The tone this morning is that yesterday’s US earnings-led rally is being tested by geopolitics and higher energy prices.
Asia Equities
| Nikkei 225 | 59,009.75 | -0.97% |
| Shanghai Comp | 4,073.714 | -0.79% |
| Shenzhen Comp | 14,945.20 | -1.53% |
| Hang Seng | 25,870.37 | -1.12% |
| ASX 200 | 8,774.00 | -0.79% |
| KOSPI | 6,426.87 | +0.14% |
| Straits Times | 4,955.46 | -0.94% |
| NZX 50 | 12,884.93 | -0.47% |
US Close
| Dow Jones | 49,490.03 | +0.69% |
| Nasdaq Comp | 24,657.57 | +1.64% |
| S&P 500 | 7,137.90 | +1.05% |
| Russell 2000 | 2,785.38 | +0.74% |
| VIX | 18.92 | -2.97% |
US Futures
| Dow Fut | 49,359.0 | -0.62% |
| S&P Fut | 7,136.75 | -0.48% |
| Nasdaq Fut | 26,965.25 | -0.43% |
| Russell 2K Fut | 2,781.8 | -0.48% |
Rates
| US 2Y | 3.81% |
| US 5Y | 3.94% |
| US 7Y | 4.12% |
| US 10Y | 4.321% |
| US 30Y | 4.928% |
Commodities
| WTI Jun'26 | 94.13 | +1.26% |
| Brent Jun'26 | 103.07 | +1.14% |
| Nat Gas | 2.717 | -0.18% |
| RBOB Gas | 3.3788 | +0.62% |
| ULSD Heating Oil | 3.926 | -0.30% |
| Uranium | 86.75 | UNCH |
Top Overnight Headlines
- Iran tightens control of Hormuz after US calls off renewed attacks
- Asian shares pull back from record highs as oil gains on Iran risk
- Oil gains on lack of progress on US-Iran talks, Hormuz shipping still disrupted
- Tesla lifts 2026 spending plans by a quarter as Musk funds AI and robotic dreams
- Japan's factory activity expands at strongest pace in 4 years, PMI shows
- US Navy Secretary Phelan fired, sources say
Desk Take
- US cash strength did not carry into Asia.
- Oil remains the key macro transmission channel.
- Higher yields and weaker futures point to a softer European/US handover.
- Geopolitics is back in control until Hormuz risk eases materially.
Today’s Calendar
| 08:30 | Germany Manufacturing PMI (Flash) |
| 08:30 | Germany Services PMI (Flash) |
| 09:00 | Eurozone Manufacturing PMI (Flash) |
| 09:00 | Eurozone Services PMI (Flash) |
| 09:30 | UK Manufacturing PMI (Flash) |
| 09:30 | UK Services PMI (Flash) |
| 13:30 | US Initial Jobless Claims |
| 14:45 | US Manufacturing PMI (Flash) |
| 14:45 | US Services PMI (Flash) |
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