Evolution of the international financial markets and evaluation of the main events and economic indicators of the previous day session. Available in English.
Risk appetite stabilised on Monday after early pressure from Middle East escalation, firmer Fed rate-hike expectations and a continued tech-led correction, with a late rebound in US equities containing losses. In commodities, Brent crude rose on renewed Iran–Israel tensions, though intraday headlines improved the outlook and capped gains.
Investors shifted gears across asset classes on Friday, as the US employment report showed robust job growth in May for a third month in a row. The resilient labour market and inflation risks led markets to fully price in a Fed rate hike by year‑end. US Treasury yields rose accordingly, especially at the short end, further flattening the curve.
Investor sentiment was cautiously positive on Thursday, supported by lower oil prices amid optimism that Iran and the US may be moving closer to a provisional peace deal, despite continued clashes involving both countries, as well as between Israel and Lebanon.
Yesterday's session was marked by a risk-off sentiment, as energy prices continued to rise amid escalating tensions in the Middle East, with the US and Iran exchanging strikes with reportedly the highest intensity since the ceasefire was started in early April. Brent crude prices were up nearly 2% and TTF natural gas prices were up 2.5%.
Yesterday's was another volatile session, with markets assessing the fragility of the recent ceasefire agreement between the US and Iran, as Israel maintains its attacks against Lebanon. Brent crude prices closed higher at USD 96/barrel after briefly touching USD 93 during the session, while TTF natural gas prices closed down -3%.
Yesterday's was a volatile session in the market, driven again by geopolitical developments the Middle East. It started with a risk-off tone, as Iran reportedly suspended its contact with the US in response to the Israelian attacks to Lebanon; however, later news reporting that Hezbollah was ready to agree to a ceasefire switched the market sentiment in late session.
Friday's session was driven by the provisional agreement reached by the US and Iran for a 60-day ceasefire that would pave the way to resume talks regarding Teheran's nuclear programme. Energy prices fell accordingly, broadly by 2%, and market-implied volatility also ticked down.
Financial markets posted a mixed performance on Thursday, with moves closely tied to shifting headlines on US‑Iran ceasefire talks. While European markets closed under a cautious tone, US assets benefited from late‑session reports pointing to a draft agreement between the US and Iran to extend the ceasefire.
Wednesday saw a mixed session in financial markets, with investors reacting to contradictory headlines around potential US–Iran peace talks. Despite the ongoing geopolitical uncertainty, energy prices fell for a second consecutive day, with Brent crude slipping below $95 per barrel and TTF natural gas dropping under €47/MWh.
Financial markets diverged across the Atlantic on Tuesday. In the US, sentiment was supported by optimism around US‑Iran peace talks, despite US missile strikes in southern Iran. In the eurozone, by contrast, the rebound in European benchmark energy prices—Brent crude and TTF natural gas—after a few sessions of relief weighed on investor sentiment.
Investors opened the week with a risk-on tone after US officials, including President Trump, signalled over the weekend that negotiations with Iran were approaching an agreement. Trading volumes remained subdued, however, as several major markets, including the US and the UK, were closed for a bank holiday.