16h • Morning Prep
Overnight Global Macro Market Report 5/29/26
Overnight Global Macro Market Report
Friday, May 29, 2026
Global Overview
The overnight tone remains constructive and is arguably the strongest risk-on backdrop we have seen since the Iran conflict began disrupting markets earlier this spring.
The key shift:
The market is now receiving simultaneous support from:
• Lower oil prices
• Stabilizing Treasury yields
• Improving geopolitical expectations
• Strong AI leadership
• Expanding global risk appetite
World equity markets have reached fresh record highs overnight while oil prices fell sharply on reports that a U.S.-Iran ceasefire extension and Strait of Hormuz reopening agreement may be nearing completion. Brent crude fell roughly 2% and is on pace for its largest weekly decline since early April.
This matters because the dominant macro headwind of May was oil. Full Report
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Overnight Global Macro Market Report 5/29/26
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