標普500指數、納斯達克綜合指數短線走低，現分別跌0.34%和0.9%。

Brent rose 6.63% last week to $94.39/bbl and the forward curve is also moving higher. 12-month Brent futures climbed to $79.16/bbl on Friday, a two-month high and nearing the May Iran-conflict peak of $83.58/bbl as markets re-price the risk of a prolonged Strait of Hormuz shutdown and sustained higher energy prices. That has flowed into inflation pricing: U.S. 1‑year inflation swaps jumped 34.5bp last week to 2.24% (largest weekly rise since March); euro‑area 1‑year swaps rose 25bp to 2.71%. Concurrently, 10‑year U.S. Treasury yields rose 4.2bp to 4.73% and 10‑year German bund yields gained 5.4bp to 3.26%. Deutsche Bank notes the energy shock is moving from spot prices into next‑year inflation expectations. Treasury expansion of long‑bond buybacks may ease yield pressure temporarily, but if the oil forward curve remains elevated bond markets will need to price greater inflation uncertainty.

Most U.S. tech stocks fell in premarket trade: AMD (AMD.O) down over 2%, SpaceX (SPCX.O) down 2%, Intel (INTC.O) down 1.9%, TSMC (TSM.N) down 1.3%, Broadcom (AVGO.O) down 1%.