Morning Pack – Wednesday 10 June 2026
Market comment: Risk tone is softer this morning as US/Iran tensions escalate, with US futures lower, Asia mostly red, Treasury yields higher and oil still elevated. The main event is US CPI at 12:30 GMT.
Asia-Pacific
| Market | Price | Net | % |
|---|---|---|---|
| Nikkei 225 | 64,004.55 | -1,412.08 | -2.16% |
| Shanghai | 3,986.66 | -23.37 | -0.58% |
| Shenzhen | 14,972.75 | -295.96 | -1.94% |
| Hang Seng | 24,292.95 | -272.95 | -1.11% |
| ASX 200 | 8,606.90 | +2.70 | +0.03% |
| KOSPI | 7,621.43 | -475.50 | -5.87% |
| Straits Times | 4,971.03 | -52.22 | -1.04% |
| NZX 50 | 13,253.65 | +49.57 | +0.38% |
Top headlines
- US and Iran exchange strikes after downing of American helicopter
- US launches new strikes on Iran after helicopter downed
- SpaceX IPO explained: price set, retail allocation still uncertain
- China taps commercial oil stockpiles to weather Gulf shock
- China could tap oil reserves as supply disruptions deepen
US futures
| Future | Last | Net | % | Implied Open |
|---|---|---|---|---|
| Dow Fut | 50,778.0 | -131.00 | -0.26% | -147.11 / -0.29% |
| S&P Fut | 7,364.5 | -28.25 | -0.38% | -31.15 / -0.42% |
| Nasdaq Fut | 28,935.5 | -181.50 | -0.62% | -192.00 / -0.66% |
| Russell 2K Fut | 2,853.3 | -15.00 | -0.52% | -19.72 / -0.69% |
US close
| Index | Close | Net | % |
|---|---|---|---|
| Dow Jones | 50,872.11 | +86.10 | +0.17% |
| Nasdaq | 25,678.82 | -250.84 | -0.97% |
| S&P 500 | 7,386.65 | -19.08 | -0.26% |
| Russell 2000 | 2,867.02 | +11.60 | +0.41% |
| VIX | 19.87 | +0.95 | +5.02% |
Fixed income
| Treasury | Yield | Move |
|---|---|---|
| US 2Y | 4.143% | +1.9 bps |
| US 5Y | 4.271% | +1.8 bps |
| US 10Y | 4.540% | +1.2 bps |
| US 30Y | 5.020% | +0.9 bps |
Commodities
| Commodity | Price | Net | % |
|---|---|---|---|
| WTI | 88.52 | +0.32 | +0.36% |
| Brent | 91.70 | +0.25 | +0.27% |
| Natural Gas | 3.084 | -0.056 | -1.78% |
| Gold | 4,176.12 | -83.95 | -1.97% |
FX
| Pair | Price | Net | % |
|---|---|---|---|
| EUR/USD | 1.1545 | +0.0002 | +0.0173% |
| GBP/USD | 1.3379 | +0.0003 | +0.02% |
| USD/JPY | 160.35 | -0.01 | -0.0062% |
| AUD/USD | 0.7009 | -0.0019 | -0.2703% |
| USD/CNY | 6.7749 | +0.0027 | +0.04% |
Economic calendar – GMT
| Time | Currency | Event | Forecast | Previous |
|---|---|---|---|---|
| 09:30 | EUR | German 10-Year Bund Auction | — | 3.160% |
| 12:30 | USD | Core CPI MoM May | 0.3% | 0.4% |
| 12:30 | USD | Core CPI YoY May | 2.9% | 2.8% |
| 12:30 | USD | CPI MoM May | 0.5% | 0.6% |
| 12:30 | USD | CPI YoY May | 4.2% | 3.8% |
| 14:30 | USD | Crude Oil Inventories | -3.000M | -7.974M |
| 14:30 | USD | Cushing Crude Oil Inventories | — | -0.583M |
| 17:00 | USD | 10-Year Note Auction | — | 4.468% |
| 18:00 | USD | Federal Budget Balance May | -282.9B | 215.0B |
Market Commentary
Markets are adopting a more defensive tone this morning following a sharp escalation in tensions between the US and Iran. Reports of US strikes on Iranian targets after the downing of an American helicopter have pushed geopolitical risk back to the forefront, weighing on equity futures and keeping energy markets elevated.
Asian equities are broadly weaker, led by a sharp decline in Japan and South Korea. The Nikkei is down more than 2%, while the KOSPI has fallen almost 6%. Chinese markets are also lower despite inflation data that broadly matched expectations.
US futures are pointing lower across the board, with the Nasdaq underperforming as investors trim exposure ahead of today's CPI report. The Dow is indicated lower by around 0.3%, the S&P by 0.4% and the Nasdaq by around 0.7%.
Treasury yields are modestly higher, with the 10-year yield back above 4.50%, suggesting investors remain focused on inflation and Federal Reserve policy rather than seeking aggressive safe-haven protection.
Oil remains elevated but has failed to extend recent gains despite the Middle East developments. Brent remains above $91/bbl while WTI trades near $89/bbl.
The key event today is the US CPI report at 12:30 GMT. With valuations still stretched and Treasury yields elevated, a stronger-than-expected inflation print could place additional pressure on equities, particularly the technology sector.
No comments:
Post a Comment