Key Points
SYDNEY (Reuters) U.S. stock futures slid in Asia on Monday as the military conflict in the Middle East boosted oil and Treasuries, while the sizzling September U.S. jobs report raised the rate stakes for inflation figures later in the week...
Holidays in Japan and South Korea made for thin conditions but the initial bid was for bonds and the safe harbours of Japanese yen and gold, with the euro the main loser...
The risk is higher oil prices, a slump in equities, and a surge in volatility supports the dollar and yen, and undermine risk currencies, said analysts at CBA in a note...
Given the tightness already facing physical oil markets in Q4 2023, an immediate reduction in Irans oil exports risks pushing Brent futures above $US100/bbl in the short term...
Any sustained rally in oil prices would act as a tax on consumers and add to inflationary pressures, which weighed on equities as S&P 500 futures shed 0.8% and Nasdaq futures lost 0.7%...
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