Morning News & Views - Asia: A Summary of Select Global Markets Research

Research evidence excerpt

Morning News & Views - Asia: A Summary of Select Global Markets Research

Nomura | Morning News & Views - Asia 15 June 2026

This author expects equities to be solid, bonds to be range-bound, and USD and JPY to be soft in the week of 15 June. The Middle

East peace agreement will likely reduce the dominance of tech stocks and USD and cause interest to shift to cyclical and value

stocks. There is little downside for crude oil prices even if a peace agreement is reached, and there is a considerable risk that Iran

will fail to comply with the agreement. The FOMC will likely be neutral for markets, and the Fed will keep both rate cuts and rate

hikes in view while moving toward abolishing forward guidance. The BOJ is unlikely to hint at the next rate hike at its meeting, and

weak JPY could spur steepening along the bond market's yield curve. Week to consider post-Middle East peace accord prospects

The main theme for the week of 15 June is likely to be post-Middle East peace accord trades.

Matsuzawa Morning Report - Trading after peace agreement in Middle East

Naka Matsuzawa - NSC

Market drivers even more important than oil prices

Oil futures fell mainly for nearby contracts on expectations of a Middle East peace deal, but the far-dated contracts have been flat

since late May. Inflation expectations have declined in Europe but remain high in Japan due to concerns that the BOJ is behind the

curve. Normalization of BOJ policy appears more important than a drop in oil prices for the prospect of a decline in Japan's inflation

expectations and flattening along the bond market's yield curve. If the peace deal is genuine, expectations for economic recovery

and BOJ policy normalization couldrise, JPY depreciation could pause, the bias toward tech stocks could be corrected, and