Public Markets 8 Hours

Last updated: May 18, 2026, 2:31 AM ET

Energy & Commodities

Oil prices edged higher as tenuous cease-fire conditions in the Middle East continued to stoke supply concerns, with Brent crude climbing above $80 per barrel amid President Trump's fresh warnings to Iran. The rising energy costs added $40 billion to American fuel bills, exceeding the cost of repairing the nation's bridges or rebooting air traffic control systems. Meanwhile, copper extended its retreat as deepening inflation concerns tied to the Iran conflict and weaker-than-expected Chinese industrial data weighed on industrial metals, with the red metal down nearly 4% over the past week.

Fixed Income Markets

Global bond markets continued their sell-off with US and Japanese yields climbing to multi-year highs, as rising oil prices fueled inflation concerns that prompted investors to reassume rate-hike expectations. Japanese government bonds saw record yield increases with the 10-year yield rising above the country's dividend yields by the most since 2007, while the 30-year US Treasury hit its highest level since 2023 as investors priced in persistent inflationary pressures. The deepening slump in Japanese bonds added fuel to the global debt market rout, with bond yields across the developed world rising in unison.

Currency & Equity Markets

The British pound stalled against the dollar as FTSE 100 futures slipped, with hedge funds ramping up bearish sterling bets after Manchester Mayor Andy Burnham secured a pathway to potentially challenge for UK prime minister, raising fears of political uncertainty. In contrast, US dollar maintained broad support against its Singapore counterpart, with technical indicators suggesting the greenback will remain firm in the near term. Meanwhile, South Korean stocks rebounded from the brink of correction as optimism over progress in Samsung Electronics' labor talks helped offset pressure from rising bond yields, with the benchmark KOSPI recovering nearly 2% from intraday lows.

Regional Market Developments

Indonesia's markets joined the global selloff with the rupiah hitting a record low, stocks sliding, and bond yields surging as trading resumed after a two-day holiday, with local markets swept up in the broader sell-off fueled by inflation fears. In the UK, home prices reached a 10-year high in May, rising 1.2% compared with a typical average of 1% for the month over the past ten years, while British takeovers surged 250% as global buyers bypassed political flux to capitalize on what London's M&A advisers called their best year in more than a decade.