- Escalating tensions in the Middle East, alongside ongoing tensions between Russia and Ukraine, sent Brent briefly above US$110/bbl for the first time since May before it settled 3.7% higher at US$109.90/bbl, while markets also weighed the potential release of Russian diesel supplies onto the global market.
- Limited guidance from Fed Chair Warsh in his speech in Bangkok saw markets pare back October hike expectations to around 15%, with the Fed expected to keep weighing its options before committing to further tightening.
- The US 10yr was little changed at 5.07%, closing out its biggest weekly drop since August last year, while the 2yr dipped 3bps to 4.71%.
- It’s a light week for domestic data, with RBA Assistant Governor Kent speaking at the CommBank Global Markets Conference today and more RBA speakers to follow later in the week.
