Rate weekly update

Good morning everyone; this piece is a first attempt at a potential weekly addition dedicated to the world of interest rates (G4).

The dominant driver this week was a sharp reversal in the oil narrative with the double headwind from Hormuz and Bal El Bandeb (Red sea) that created a strong upward pressure on oil.

Brent surged from $88.81 on Monday to an intraday high of $101.04 on Thursday — its first close above $100 since June — before partially retracing to $97.25 on Friday, as renewed Middle East conflict fears unwound the post-Versailles deal optimism. Global bonds were pummelled across the board, with yields hitting multi-year highs mid-week before a modest Friday relief rally.

RATES MOVES