Matthew Burgess

US equity futures climbed, oil slumped and the dollar fell after President Donald Trump and Pakistani mediators said the US and Iran had reached a peace agreement that would reopen the Strait of Hormuz.

US equity futures rose 0.8%, dollar fell as peace deal with Iran opens Strait of Hormuz. Brent crude dropped over US$3 to hit lowest in three months, near US$84 a barrel.

Pacific Investment Management Co. is favoring five- to 10-year Australian debt, wagering the central bank will ultimately be forced to pivot to interest rate cuts to support a slowing economy.

Strategists say markets are on watch for yen intervention after the Federal Reserve took a hawkish stance at Kevin Warsh’s debut meeting as governor, triggering a drop in the currency to levels that have previously prompted Japan’s finance ministry to step in.

The pound is set to face growing pressure as its recovery from the post-Brexit selloff has made it the most overvalued currency among major peers, according to Goldman Sachs Group Inc.

(Bloomberg) -- The pound is set to face growing pressure as its recovery from the post-Brexit selloff has made it the most overvalued currency among major peers, according to Goldman Sachs Group Inc.

US stock futures fell and oil climbed as talks between Washington and Tehran were clouded by a renewed threat from President Donald Trump to strike Iran. The pound slipped on speculation around Keir Starmer’s future as UK prime minister.

The pound traded near this year’s low on expectations Keir Starmer will set out a timetable for his departure as UK prime minister in coming days.

(Bloomberg) -- The pound traded near this year’s low as Keir Starmer said he would step down as Britain’s prime minister, with traders weighing whether a new Labour administration could revive concerns over the UK’s fiscal outlook.Most Read from BloombergIran Says Hormuz Closed Again as Talks With US Set to OpenUS and Iran Make ‘Progress’ in Talks, Aim to Keep Hormuz OpenIranian Negotiators Said to Still Be Engaged in Talks With USDOJ Rejects Judge Request to Certify $1.8 Billion Fund NixedTrump

By confusing taxpayers into actively avoiding taking any estate planning steps until the proposals are finalised, which appears to have been the case since budget night in May, tax revenue targets may in fact be achieved more easily, writes Matthew Burgess.