Morning Juice – Europe Session Prep

Good Morning Traders.
It is Monday the 13th of July. Here is what to look out for today.

Sentiment
Oil jumped as the US and Iran exchanged fresh strikes, with the sides offering conflicting statements on whether the Strait of Hormuz remains open. Treasury two-year yields climbed to their highest level since early 2025 as renewed tensions in Iran pushed up oil prices, fanning speculation that the Federal Reserve will need to raise interest rates to combat inflation. What’s good for the US dollar isn’t always good for US bonds – but investors are finding ways to work around it. Andy Burnham, the UK’s presumptive next prime minister, is considering unveiling a bolstered budget later this year as allies and experts seek to persuade him to pursue a land tax, public control of utilities and a more ambitious devolution strategy. Marine Le Pen extended her lead in a voter preference poll ahead of next April’s French presidential election after appeal judges cleared her to enter the race for a fourth time by shortening a previous ban on her standing.

Docket
08:00 ET
OPEC Monthly Report