Overnight Headlines 9th July 2026

Morning Pack – 9 July 2026

Morning note: Asia is mixed-to-lower, with oil higher after fresh US strikes on Iran. US futures are modestly firmer after a weak cash close, but bonds remain under pressure with the long end still elevated.

Asia-Pacific

Index	Price	Net	%
Nikkei 225	67,682.05	+863.00	+1.29%
Shanghai	3,962.906	-7.974	-0.20%
Shenzhen	15,002.921	+63.194	+0.42%
Hang Seng	23,978.98	-220.48	-0.91%
ASX 200	8,740.00	-45.10	-0.51%
KOSPI	7,196.36	-50.43	-0.70%
STI	5,416.27	+46.70	+0.87%
NZX 50	13,785.67	+120.49	+0.88%

Headlines

• US hits Iran with strikes for a second night as Tehran targets US bases in response
• Oil rises after fresh US strikes on Iran
• Fed officials split on direction of interest rates, minutes show
• China CPI stays subdued as PPI rises on export and energy pressures
• Japan’s borrowing costs soar to 30-year high on debt fears
• Samsung mass produces storage drives for Nvidia’s Vera Rubin platform
• Fed officials weighed rate hikes as tariffs, oil and AI investment complicate outlook

US Futures

Future	Last	Day Change	Implied Open
Dow Fut	52,714.0	+90.00 (+0.17%)	+135.61 (+0.26%)
S&P Fut	7,543.25	+14.50 (+0.19%)	+9.54 (+0.13%)
Nasdaq Fut	29,524.25	+55.75 (+0.19%)	+71.69 (+0.24%)
Russell 2K Fut	2,980.2	+8.70 (+0.29%)	-1.19 (-0.04%)

US Cash Close

Index	Close	Net	%
Dow	52,348.39	-576.76	-1.09%
Nasdaq	25,870.652	+51.962	+0.20%
S&P 500	7,482.71	-21.14	-0.28%
Russell 2000	2,956.389	-26.099	-0.88%
VIX	16.90	+0.77	+4.77%

Bonds

Treasury	Yield	Move	bps
US 2Y	4.199%	-0.002	-0.2 bps
US 5Y	4.308%	-0.002	-0.2 bps
US 10Y	4.567%	UNCH	0.0 bps
US 20Y	5.077%	+0.001	+0.1 bps
US 30Y	5.066%	+0.002	+0.2 bps

FX

Pair	Price	Net	%
USD/JPY	162.37	-0.21	-0.1292%
EUR/USD	1.1432	+0.0018	+0.1577%
GBP/USD	1.3402	+0.0016	+0.12%
EUR/GBP	0.8527	+0.0003	+0.04%

Commodities

Commodity	Price	Net	%
WTI Crude	73.80	+0.28	+0.38%
Brent	78.36	+0.34	+0.44%
Natural Gas	3.211	-0.001	-0.03%
Gold	4,075.46	+1.03	+0.03%

Calendar – GMT

Time	Currency	Event	Actual	Forecast	Previous
06:00	EUR	German Trade Balance (May)		14.9B	14.5B
10:00	EUR	Eurogroup Meetings
11:30	EUR	ECB Publishes Account of Monetary Policy Meeting
12:30	USD	Continuing Jobless Claims		1,820K	1,814K
12:30	USD	Initial Jobless Claims		218K	215K
13:00	USD	FOMC Member Williams Speaks
14:00	USD	Existing Home Sales (Jun)		4.19M	4.17M
14:00	USD	Existing Home Sales (MoM) (Jun)			3.2%
17:01	USD	30-Year Bond Auction			5.050%
20:30	USD	Fed's Balance Sheet			6,725B

Market Commentary

Markets remain focused on geopolitical developments after the US carried out a second consecutive night of strikes against Iranian targets. Although crude oil is trading higher, gains have moderated from the sharp overnight spike, allowing US equity futures to recover modestly following Wednesday's risk-off session.

Asian trading was mixed. Japan outperformed, with the Nikkei rallying more than 1% as exporters benefited from a softer yen, while Hong Kong and South Korea lagged amid continued caution over geopolitical risks and technology sector weakness. Chinese markets were mixed after inflation data showed consumer prices remained subdued while producer prices accelerated, highlighting the uneven nature of China's economic recovery.

Attention now turns to the European session before the focus shifts to the US. Weekly jobless claims will provide another update on labour market conditions, while existing home sales will offer insight into housing activity. Investors will also watch comments from New York Fed President John Williams ahead of this evening's 30-year Treasury auction. Any further developments in the Middle East remain the biggest potential catalyst for equities, bond yields and, in particular, energy markets.

Key themes today:

• Middle East developments remain the primary market driver.
• Oil prices continue to influence inflation expectations.
• US Jobless Claims and Existing Home Sales will be closely watched.
• ECB meeting accounts may provide further clues on the rate outlook.
• US 30-Year Treasury auction could influence longer-dated yields.