On the 10th local time, Iranian president PEZESHKIAN said threats against infrastructure — from transport networks to power and water utilities — are not demonstrations of strength but desperate acts against national will, and Iran will steadfastly resist any pressure or threat. Fox News reported on the 10th that U.S. President Trump said he was "close" to ordering new strikes on Iranian power plants and bridges, describing the move as a response to Iran "dragging out" negotiations.

TD Securities says with inflation re-accelerating and energy-driven pressures likely to spill into core prices and services, the ECB appears poised to raise rates 25bp to 2.25%. Markets treat a June hike as the start of limited tightening; the probability of a further move in September is about 65% and December is fully priced. Given the broadening inflation risk—energy-led increases feeding services, wages and expectations—TD Securities views this market pricing as reasonable. If incoming data confirm underlying inflation is not easing fast enough, a September follow-up is likely.

Henry McVey, KKR's balance-sheet CIO and head of global macro and asset allocation, said in a report that inf in most major economies is likely to remain persistently above market expectations. Geopolitical shocks, including the Iran conflict, are occurring more frequently. The commodities sector, after six years of deflation before COVID, is now showing clearer inflationary trends. KKR projects US CPI at 3.6% in 2026 and 2.5% in 2027 versus market consensus of 3.3% and 2.4%; its inf forecasts for Europe and Japan are also above consensus.