Our Stuff

Largely muted at the open as Iran–US de-escalation talks show little progress, keeping Strait tensions elevated and risk tone cautious. Brent +0.4% to $105.50, US Treasury 10Y yields +, USD firm — both tracking first weekly gain; bonds softer (prices ↓). Mixed sentiment across Emerging market. SENEGL (+0.625) outperformed while oil-linked credits caught a bid — ANGOL (+0.50) and NGERIA (+0.375) — on crude strength. In contrast, importers lagged with KENINT (-1.50) and EGYPT (-1.125) as profit-taking weighed into the close. MOZAM (-.375) trading lower at the open post Fitch’s rating downgrade to CC, citing a high probability that the country will restructure its sole outstanding US$900m Eurobond.