Rio Times Global Economy Briefing
The Big Three
Oil cracked. Brent fell about 6% to roughly $94.5 and WTI to near $90.6 — two-week lows — as Washington and Tehran signalled a gradual reopening of the Strait of Hormuz.
Asia hit records. Japan’s Nikkei 225 broke 65,000 for the first time, closing up 3.04%, while Taiwan’s Taiex topped 43,000 and Europe reached its highest since March 2.
The bond market dug in. With US markets shut for Memorial Day, traders held the view that new Fed Chair Kevin Warsh will not cut in 2026 — the 30-year sits at 5.06%.
