The other focus: UK politics
GBPUSD up sharply, GBP crosses up as well (note EURUSD follows with lag as EURGBP down sharply)

]
Risk takes a modest hit… cautious reactions until news is confirmed

US PRE-MARKET MOVERS: REGN, F, D, RAMP, UNH, BIO, NOW
ES -0.2% NQ -0.1% RTY -0.1%

Bonds spoil the AI party
A bond market crunch meets the AI boom. Aggravated by still-rising oil prices, accelerating inflation, and the threat of higher interest rates and rising government debt estimates, the bond market has been spooked again, casting a pall over AI-obsessed stock markets.
The U.S. Treasury long bond yield has hit its highest level since before the Great Financial Crisis in 2007, with 30-year yields topping 5.159%, while 10-year yields have jumped to their highest in more than a year…more on Reuters
Newsquawk Daily Asia-Pac Opening News – 18th May 2026

(Right click on any image (or chart) to open a full screen in a new tab)
This Week’s Market-Moving Events
Global markets face another week of weak housing activity, slowing business sentiment, and stubborn inflation pressures. US housing remains constrained by affordability, while Europe and China continue showing signs of softer growth amid geopolitical uncertainty. (Econoday)

Advantage Iran?
–
G7 finance ministers to meet amid warning of economic consequences of prolonged Strait of Hormuz closure cnbc
—
Massive explosion in Beit Shemesh area was coordinated test with defense company, officials say- Jerusalem Post, May 17 2026
Reports have circulated the theory that the explosion may have destroyed a stockpile of surface-to-air missiles belonging to Arrow-3.
—
Netanyahu is set to convene top aides and ministers Sunday evening for a security discussion in his office in Jerusalem, amid reports that the US and Israel are preparing to restart the war with Iran. T of Isr
or not …
Newsquawk Week (and Week in Review) for18th – 22nd May

Jeff Cox:
Traders now see next Fed interest rate move as a hike following inflation surge
Following a week of surprisingly high inflation readings, traders in the fed funds futures market are pricing in an interest rate increase as soon as December, with a much higher certainty into the early part of 2027.
A December hike has a nearly 51% probability, while a move higher by January carries about a 60% probability with March coming in at better than 71%.
welcome kevin …
BTCUSD 4 HOUR
Succumbing to the risk off Friday.
Using a round number view, failure to test 82K and hold above 80K leaves 78K as pivotal (currently just above support) and the last obstacle to exposing 75K.
Looking at this chart, 77720 needs to hold or face a void to 75260 and 74903 (major support).

Newsquawk US Market Wrap: Stocks sold in risk-off trade amid rise in global yields
SNAPSHOT: Equities down, Treasuries down, Crude up, Dollar up, Gold down..
,,, Treasuries saw pressure, as yields rose, as higher oil prices added to inflation fears in quite a quiet newsflow in the US afternoon. Into the weekend, attention still lies on any indication whether Trump is set to resume military operations against Iran this weekend.,,
,
CRUDE WRAP: WTI (M6) SETTLES USD 4.25 HIGHER AT USD 105.42/BBL; BRENT (N6) SETTLES USD 3.54 HIGHER AT USD 109.26/BBL

(Right click on any image (or chart) to open a full screen in a new tab)
© 2024 Global View
