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Janet Mui, Head of Analysis, discusses the agreement between the U.S. and Iran to lift the blockade on the Strait of Hormuz, the outcome of Kevin Warsh’s first meeting as Federal Reserve chair, and what Andy Burnham’s by-election victory could mean for UK markets.
Markets in a Minute is produced by RBC Brewin Dolphin.
Key Highlights
Memorandum of understanding:
U.S.-Iran agreement raises hopes for a gradual normalisation of energy supplies and lower oil prices.
Warsh makes chair debut:
Kevin Warsh’s first Federal Reserve meeting delivered a hawkish message, with markets now pricing around two rate hikes over the next 12 months.
A new UK prime minister:
Andy Burnham’s decisive victory in the Makerfield by-election and Sir Keir Starmer’s resignation as prime minister have cast a fresh look at the UK’s fiscal backdrop.
