📈 Global Markets Waver as Crude Surges & Central Banks Prepare Rates Hike

• Macro Overview: Asian equity markets struggled as escalating Middle East tensions drove crude prices higher, raising global inflation risks ahead of key policy decisions by the US Federal Reserve and the Bank of Japan. • Energy & Commodity Markets: • Brent crude rose 1.21% to US$ 106.96/bbl; US crude increased 1.27% to US$ 102.68/bbl following Houthi attacks on Saudi oil infrastructure. • Rising global oil prices compound inflationary risks for energy-importing nations, impacting fuel pricing structures and import costs. • Spot gold eased 0.15% to US$ 4,291.59/oz, while silver fell 0.31% to US$ 63.03/oz. • Monetary & Bond Markets: • Markets price in a 90% chance of a 25 bps rate hike by the US Fed, its first since mid-2023. • Benchmark 10-year US Treasury yields touched 5.00%. • Bank of Japan is expected to raise its benchmark policy rate by 25 bps to 1.25% to support the yen. • Regional Market Movements: • MSCI Asia-Pacific ex-Japan dipped 0.12%. • South Korea's KOSPI declined 0.25%, while Japan's Nikkei edged up 0.19%. • US Dollar Index rose 0.05% to 99.53; USD/JPY advanced 0.17% to 154.61.