Overnight Headlines 12th June 2026

Morning Pack — Friday 12 June 2026

Data time: approx. 06:25 GMT

Asia-Pacific Markets

Market	Level	Change
Nikkei 225	66,548.93	+2,331.66 / +3.63%
Shanghai	4,049.29	+62.28 / +1.56%
Shenzhen	15,103.14	+251.16 / +1.69%
Hang Seng	24,740.41	+491.12 / +2.03%
ASX 200	8,800.10	+166.90 / +1.93%
Kospi	8,420.83	+656.88 / +8.46%
Straits Times	5,008.43	+20.33 / +0.41%
NZX 50	13,393.87	+191.71 / +1.45%

Linkable Headlines

1. Trump cancels Iran strikes, says peace deal could be signed in “coming days” — WSJ
2. Trump says US close to deal with Iran and calls off strikes — FT
3. Stock rally builds on Iran optimism, oil drops — Bloomberg
4. SpaceX IPO raises $75bn in biggest debut of all time — Bloomberg
5. Live: Stock futures tick higher as Wall Street gears up for SpaceX’s historic IPO — CNBC
6. Oil prices fall on hopes of U.S.-Iran deal despite Tehran pushback — CNBC
7. US insurance rulemaker probes credit risks tied to data centres — FT
8. Gold set for weekly loss as inflation, rate hike fears persist — CNBC

US Futures

Market	Level	Change
Dow Futures	50,914.00	+39.00 / +0.08%
S&P Futures	7,406.75	+10.75 / +0.15%
Nasdaq Futures	29,518.25	+53.50 / +0.18%
Russell 2K Futures	2,923.00	+0.90 / +0.03%

US Cash Close

Market	Level	Change
Dow	50,848.75	+929.97 / +1.86%
Nasdaq	25,809.66	+640.16 / +2.54%
S&P 500	7,394.30	+127.31 / +1.75%
Russell 2000	2,921.03	+85.57 / +3.02%
VIX	19.44	-2.78 / -12.51%

Bonds

Treasury	Yield	Change
US 2Y	4.075%	+0.005 / +0.5bp
US 10Y	4.473%	+0.008 / +0.8bp
US 30Y	4.961%	+0.009 / +0.9bp

Commodities

Commodity	Price	Change
WTI Crude	85.95	-1.76 / -2.01%
Brent	88.43	-1.95 / -2.16%
Natural Gas	3.088	+0.001 / +0.03%
RBOB Gasoline	3.0337	-0.0677 / -2.18%
Heating Oil	3.4185	-0.0946 / -2.69%
Uranium	84.75	Unch

FX

Pair	Level	Change
USD/JPY	160.26	+0.34 / +0.21%
EUR/USD	1.1566	-0.0011 / -0.095%
GBP/USD	1.3401	-0.0011 / -0.082%
EUR/GBP	0.8626	Unch
USD/CNY	6.7637	-0.0119 / -0.1756%
USD/CAD	1.3976	+0.0012 / +0.09%

Calendar — GMT

Time	Event	Forecast	Previous
06:00	UK GDP MoM Apr	-0.1%	0.3%
06:00	UK Industrial Production MoM Apr	0.1%	-0.2%
06:00	UK Manufacturing Production MoM Apr	-0.2%	1.2%
06:00	UK Monthly GDP 3M/3M Apr	0.7%	0.6%
06:00	UK Trade Balance Apr	-22.50B	-27.22B
06:00	German CPI YoY May	2.6%	2.9%
06:00	German CPI MoM May	-0.2%	0.6%
11:00	NIESR Monthly GDP Tracker	—	0.8%
14:00	Michigan 1-Year Inflation Expectations	—	4.8%
14:00	Michigan 5-Year Inflation Expectations	—	3.9%
14:00	Michigan Consumer Expectations	44.3	44.4
14:00	Michigan Consumer Sentiment	46.1	44.8
14:30	German Buba President Nagel Speaks	—	—

Market Commentary

Risk appetite has rebounded sharply as markets price in a possible de-escalation in the US-Iran conflict. Asian equities rallied across the board, led by a surge in the Kospi and strong gains in Japan, Hong Kong and mainland China. The move follows reports that Trump has called off further Iran strikes and that a peace deal could be signed in the coming days.

The clearest shift is in energy. WTI has fallen back below $86 and Brent below $89, reversing part of the recent geopolitical risk premium as traders reassess the threat to shipping through the Strait of Hormuz. First Squawk reports suggested a potential US-Iran memorandum could include restoration of navigation through the Strait, which would be a major relief for oil markets.

US equities also recovered strongly in the previous session, with the Nasdaq up 2.54%, the S&P 500 up 1.75%, and the VIX down more than 12%. Futures are firmer again this morning, helped by easing geopolitical fears and focus on the SpaceX IPO story.

Bond markets are calmer but yields are slightly higher, with the US 10-year at 4.473% and the 30-year at 4.961%, suggesting investors are moving back into risk assets rather than seeking safety. The dollar is mixed, with USD/JPY still elevated above 160, while EUR/USD and GBP/USD are slightly softer.

Today’s calendar is led by UK growth and production data, German inflation, and the University of Michigan sentiment and inflation expectations releases. With oil falling and equities rallying, the key question is whether Iran optimism can hold through the day or whether markets are getting ahead of the political reality.