Multi-Asset Morning Pack – 26 May 2026
06:00 UK
Market Tone
Risk sentiment is firmer this morning, with US futures pointing sharply higher despite renewed geopolitical tension around the Strait of Hormuz.
Treasuries are rallying, oil is volatile, and liquidity should be treated carefully after yesterday’s holiday conditions across several major markets.
US Futures
| Contract | Level | Change |
| Dow Fut | 50,976.0 | +314.00 / +0.62% |
| S&P Fut | 7,539.75 | +48.75 / +0.65% |
| Nasdaq Fut | 29,810.0 | +251.25 / +0.85% |
| Russell 2K Fut | 2,907.1 | +35.00 / +1.22% |
Overnight Headlines
- US military strikes Iranian boats and missile launch sites, CENTCOM says.
- US says it carried out self-defence strikes in southern Iran.
- Strait of Hormuz tensions remain in focus after reported mine-laying activity.
- ECB Financial Stability Review remains a key European macro focus this week.
- US Consumer Confidence due later today.
- US 2-Year Treasury auction due at 17:00 UK.
US Close
| Index | Close | Change |
| DJIA | 50,579.70 | +294.04 / +0.58% |
| S&P 500 | 7,473.47 | +27.75 / +0.37% |
| Nasdaq Composite | 26,343.97 | +50.87 / +0.19% |
| Russell 2000 | 2,869.23 | +25.77 / +0.91% |
| VIX | 16.59 | -0.11 / -0.66% |
Bonds
Note: Treasury moves are shown in basis points.
| Treasury | Yield | Move |
| US 6-Mo | 3.752% | -1.1bps |
| US 1-Yr | 3.819% | -3.7bps |
| US 2-Yr | 4.057% | -7.0bps |
| US 3-Yr | 4.105% | -7.3bps |
| US 5-Yr | 4.193% | -7.2bps |
| US 7-Yr | 4.341% | -7.1bps |
| US 10-Yr | 4.508% | -6.4bps |
| US 20-Yr | 5.035% | -5.8bps |
| US 30-Yr | 5.032% | -5.0bps |
Commodities
| Commodity | Price | Change |
| WTI Crude | $91.80 | -4.80 / -4.97% |
| Brent Crude | $98.20 | +2.06 / +2.14% |
| Natural Gas | 2.936 | +0.029 / +1.00% |
| Gold | 4,527.64 | +18.70 / +0.41% |
FX
| Pair | Price | Change |
| EUR/USD | 1.1631 | -0.0012 / -0.10% |
| GBP/USD | 1.3480 | -0.0021 / -0.16% |
| USD/JPY | 158.94 | +0.05 / +0.03% |
| EUR/GBP | 0.8623 | +0.0002 / +0.02% |
| USD/CHF | 0.7831 | +0.0007 / +0.09% |
| USD/CAD | 1.3808 | +0.0011 / +0.08% |
| USD/CNY | 6.7860 | +0.0018 / +0.03% |
Today’s Calendar
| Time UK | Event | Forecast | Previous |
| 08:00 | ECB Financial Stability Review | — | — |
| 13:00 | US S&P/CS HPI Composite-20 YoY | 0.9% | 0.9% |
| 13:00 | US S&P/CS HPI Composite-20 MoM | — | 0.4% |
| 14:00 | US CB Consumer Confidence | 91.9 | 92.8 |
| 17:00 | US 2-Year Note Auction | — | 3.812% |
Takeaway
Markets are opening with a clear risk-on bias in futures, but the underlying cross-asset signal is more cautious.
Treasuries are rallying, oil remains highly unstable, and geopolitical headlines around Hormuz are likely to dominate early trading.
The key test today is whether equities can hold the futures-led bid once full liquidity returns after the holiday.
No comments:
Post a Comment