Morning Juice – US Session Prep (18th May)

Sentiment
Longer-dated Treasury yields rose as a lack of progress in US-Iran peace talks pushed up oil prices, emphasizing inflationary risks. The dollar weakened. Stocks sank as the US-Iran standoff pushed oil prices higher, while bonds found some stability following last week’s worldwide selloff. Hours after drones targeted a nuclear power plant in the UAE, Trump voiced frustration with Iran and warned that the “clock is ticking.” China’s growth slowed across the board in April, with investment resuming decreases, putting into question the government’s unwillingness to inject stimulus into the economy as a global energy crisis struck industries and consumers worldwide. A worsening fall in Japanese government bonds fueled the global debt market selloff, as surging oil prices stoked inflation fears and pushed rates to multi-decade highs. Treasury 30-year rates jumped as much as 4 basis points to 5.16%, their highest since 2007, on oil-driven inflation concerns, before falling to 5.13% in the London session; longer-dated debt remained sluggish after registering its largest selloff in more than a year last week.

Docket
No noteworthy economic indicators.

Speakers
08:30 ET
Fed’s Venebal, the interim Atlanta Fed President, gives welcome remarks before the 2026 Financial Markets Conference: Technology’s Transformative Role in Finance and Central Banking, hosted by the bank.

14:30 ET
Nvidia CEO Huang Speaks

16:30 ET
Trump speaks at a healthcare event

Good luck!