- Oil near $100 a barrel is now the base case for portfolio construction through year-end, Principal Asset Management's chief global strategist says.
- South Korea's three-year yield rose to its highest level since November 2022 as the local bond market reopened after holidays, joining a global selloff driven by elevated oil prices and inflation concern.
- Emerging-market equities declined as higher oil prices and global bond yields weighed on the asset class after Trump rejected Iran's latest proposal to reopen the Strait of Hormuz.
Quotes
“Assuming that oil prices remain at around $100 a barrel until the end of the year has to be part of the decision-making process when we're thinking about portfolios”
“South Korea’s three-year yield rose to the highest level since November 2022 as the local bond market reopened after holidays, joining a global selloff as elevated oil prices stoked concern over inflation.”
“Emerging-market equities declined, weighed by higher oil prices and global bond yields after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz.”