Arkea AM says oil surge lifts yields as Brent jumps 15.5% to USD 79 amid Hormuz tensions
SPY•Dollar strength persists
Dollar strength persisted on higher long-end rates; EUR/USD held near 1.14, while USD/JPY stayed elevated at 162.25.
Inflation data eases Fed pressure
US June CPI fell 0.42%, easing annual inflation to 3.5%; core inflation slowed to 2.6%, reducing near-term pressure for a Federal Reserve hike.
Oil surge tightens financial conditions
Arkea Asset Management flagged renewed risks around the Strait of Hormuz as Iran-US strikes lifted crude 15.5% to USD 79, tightening financial conditions.
Mixed equity moves and higher sovereign yields
Risk appetite fractured as the S&P 500 rose 0.81% and the Nasdaq gained 0.88%, while EuroStoxx 50 fell 2.07% and the Nikkei slid 2.87%.
Sovereign yields climbed on the oil rebound; the reached , Germany’s rose to , and France’s to .
