Overnight Headlines 26th August 2026

Morning Pack — Wednesday 26 August 2026

Market levels from the supplied screenshots, approximately 06:04–06:15 UK time.

Overnight Headlines

1. Stock futures little changed ahead of Nvidia earnings and key US inflation data
2. Bessent’s bond intervention puts US Treasury on collision course with the Fed
3. Australian CPI rises 3.5% y/y in July; monthly inflation comes in hotter than expected
4. US shifts emphasis from strikes toward sanctions pressure on Iran
5. Oil extends its slide as Iran-Oman talks revive hopes of safer Hormuz shipping
6. Canada targets US metals, foods and other goods with retaliatory tariffs
7. ECB policymakers prepare for a September rate hike as inflation risks persist

Asia-Pacific

Index	Price	Net	%
Nikkei 225	66,261.10	+404.67	+0.61%
Shanghai	3,916.831	+27.386	+0.70%
Shenzhen	13,911.29	+165.421	+1.20%
Hang Seng	25,685.40	+174.30	+0.68%
ASX 200	9,150.70	-13.90	-0.15%
KOSPI	6,873.35	+130.61	+1.94%
STI	5,729.68	-6.00	-0.10%
NZX 50	14,013.21	+20.49	+0.15%

US Cash Close

Index	Close	Net	%
Dow	53,577.40	+160.24	+0.30%
Nasdaq	26,151.30	+171.11	+0.66%
S&P 500	7,677.28	+24.42	+0.32%
Russell 2000	3,010.022	+14.942	+0.50%

US Futures

Future	Price	Net	%
Dow fut.	53,639.0	-6.00	-0.01%
S&P fut.	7,686.0	-6.00	-0.08%
Nasdaq fut.	29,250.0	-26.75	-0.09%
Russell fut.	3,013.4	-1.00	-0.03%

US Treasuries

Tenor	Yield	Change
US 2Y	4.195%	-0.9 bp
US 5Y	4.351%	+0.2 bp
US 10Y	4.643%	+0.4 bp
US 30Y	5.180%	+0.6 bp

Yield changes converted to basis points; yields retained to three decimal places.

FX

Pair	Price	Net	%
USD/JPY	159.01	-0.15	-0.0942%
EUR/USD	1.1660	-0.0014	-0.1199%
GBP/USD	1.3628	-0.0021	-0.1539%
EUR/GBP	0.8553	+0.0003	+0.04%
USD/CNY	6.7212	+0.0009	+0.01%

Commodities

Contract	Price	Net	%
WTI Oct	$80.49	-$1.87	-2.27%
Brent Oct	$86.60	-$1.98	-2.24%
Nat Gas Sep	$2.801	+$0.031	+1.12%

Today’s Calendar — GMT

Time	Cur.	Event	Forecast	Previous
12:30	USD	Core Durable Goods Orders (MoM) (Jul)	0.5%	0.6%
12:30	USD	Core PCE Price Index (MoM) (Jul)	0.2%	0.1%
12:30	USD	Core PCE Price Index (YoY) (Jul)	3.3%	3.3%
12:30	USD	Core PCE Prices (Q2) – prelim.	3.40%	4.40%
12:30	USD	Durable Goods Orders (MoM) (Jul)	0.4%	0.3%
12:30	USD	GDP (QoQ) (Q2) – prelim.	1.5%	2.1%
12:30	USD	GDP Price Index (QoQ) (Q2) – prelim.	6.3%	3.6%
12:30	USD	PCE Price Index (MoM) (Jul)	0.1%	-0.1%
12:30	USD	PCE Price Index (YoY) (Jul)	—	3.7%
12:30	USD	Personal Spending (MoM) (Jul)	0.1%	0.3%
14:00	USD	Atlanta Fed GDPNow (Q3)	4.0%	4.0%
14:30	USD	Crude Oil Inventories	1.900M	4.405M
14:30	USD	Cushing Crude Oil Inventories	—	-1.314M
14:30	EUR	Bundesbank's Balz speaks	—	—
17:00	USD	2-Year Note Auction	—	4.315%
17:00	USD	5-Year Note Auction	—	4.408%

Market Commentary

Asia: Risk appetite is firmer across most of the region, led by Korea and mainland China, while Australia is slightly softer after hotter-than-expected July inflation data. The focus remains squarely on Nvidia’s results after the US close.

Rates: Treasury yields are little changed to modestly higher this morning, with the 10-year around 4.643% and the 30-year near 5.180%. The debate over Treasury intervention remains a major market theme, particularly its interaction with the Fed’s inflation mandate.

Oil: Crude is sharply lower, with WTI around $80.49 and Brent near $86.60, as diplomatic activity involving Iran and Oman feeds hopes of improved shipping through the Strait of Hormuz and reduces the immediate geopolitical risk premium.

Today: The US data slate is unusually heavy at 12:30 GMT, including PCE inflation, GDP and durable goods. Nvidia earnings then provide the main corporate event risk later in the session.