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Market Continues to Tempt Japanese Intervention, while PBOC Signals Gradual Yuan Appreciation Market Continues to Tempt Japanese Intervention, while PBOC Signals Gradual Yuan Appreciation Reviewed by Marc Chandler on June 02, 2026 Rating: 5
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Oil Gains on Apparent Lack of Middle East Progress

June 01, 2026
The war in the Middle East continues to hang over risk-taking appetites the sword of Damocles. There appears to have been little progress over the weekend, even though a US decision was expected after the meeting in the White House Situation Room at the end of last week. Reports suggest there have been a series of skirmishes over the weekend, and …
Oil Gains on Apparent Lack of Middle East Progress Oil Gains on Apparent Lack of Middle East Progress Reviewed by Marc Chandler on June 01, 2026 Rating: 5
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June 2026 Monthly

May 30, 2026
The world enters June optimistic that an extended ceasefire in the Middle East is possible. The front month Brent oil futures contract finished May at its lowest level in a little more than five weeks. Major US and Japanese equity indices are at record highs. After a dramatic jump, European benchmark 10-year yields pulled back mostly 15-25 bp in M…
June 2026 Monthly June 2026 Monthly Reviewed by Marc Chandler on May 30, 2026 Rating: 5
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Hope Springs Eternal

May 29, 2026
There does not appear to be materially new developments from the Middle East today. While some US officials seem optimistic that progress has been made, it is not clear that an agreement is at hand. Still, oil prices are more than a dollar lower and equities are mostly firmer. The dollar is mixed against the G10 currencies and mostly in narrow ran…
Hope Springs Eternal Hope Springs Eternal Reviewed by Marc Chandler on May 29, 2026 Rating: 5
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Restrained Market Reaction to Fraying Middle East Ceasefire

May 28, 2026
The market has taken the increase in Middle East hostilities in stride. The response in the capital markets has been fairly restrained, though risk appetites have been pulled back, reflected in the losses in equities. The dollar is also firmer against most currencies, though the yen has recovered from the lowest level of the month. Crude oil is fi…
Restrained Market Reaction to Fraying Middle East Ceasefire Restrained Market Reaction to Fraying Middle East Ceasefire Reviewed by Marc Chandler on May 28, 2026 Rating: 5
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Geopolitical Hopes Underpin Risk Appetites

May 27, 2026
Many remain hopeful of a resolution in the Middle East even though the hostilities are still flaring up and Israel appears to have launched a new offensive in Lebanon. Oil prices are around $3 lower and equity markets mostly higher outside of Japan, China, and Hong Kong. The dollar is mixed. Lifted by a hawkish hold by the Reserve Bank of New Zeal…
Geopolitical Hopes Underpin Risk Appetites Geopolitical Hopes Underpin Risk Appetites Reviewed by Marc Chandler on May 27, 2026 Rating: 5
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Ceasefire Frays, Tempers Enthusiasm, but Hope Lingers

May 26, 2026
The US dollar is trading with a slightly firmer bias against most currencies today. New hostilities in the Middle East war have blunted the hopes of an extended ceasefire, but such skirmishes are not uncommon in such situations. On Polymarket, the odds that the Strait of Hormuz opens by the end of June was cut to about 45% from a peak of almost 60…
Ceasefire Frays, Tempers Enthusiasm, but Hope Lingers Ceasefire Frays, Tempers Enthusiasm, but Hope Lingers Reviewed by Marc Chandler on May 26, 2026 Rating: 5
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