July 9: AI Risk Assets Rebound

Research evidence excerpt

July 9: AI Risk Assets Rebound

Update

July 9, 2026 09:47 PM GMT

Morgan Stanley & Co. LLCMGlobal Macro Commentary | North America Molly Nickolin

Strategist

July 9: AI Risk Assets Rebound Molly.Nickolin@morganstanley.comLingdi Xu +1 212 761-3592

Economist

Lingdi.Xu@morganstanley.com +1 212 761-2957

US-Iran conflict remained contained as oil reversed lower; AI-led Sofia Palacios

equities rebounded; Fed officials continued highlighting inflation StrategistSofia.Palacios@morganstanley.com +1 212 761-0428

risks while housing softened; kiwi rose on stronger data and Morgan Stanley Asia Limited+

rising RBNZ hike expectations; DXY at 100.94 (-0.0%); US 10y at Gek Teng Khoo

4.55 (-2.8bp). Gek.Teng.Khoo@morganstanley.com +852 3963-0303

Lower oil prices eased the inflation shock, allowing rates to rally and AI-linked Morgan Stanley MUFG Securities Co., Ltd.+

Hiromu Uezato

equities to lead risk assets higher.

Hiromu.Uezato@morganstanleymufg.com +81 3 6836-8431

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Developed Markets

• US rates rallied across the curve as oil reversed lower, easing near-term

inflation concerns, while a strong long-bond auction reinforced investor