Author: Daniel snow
US Secretary of Defense Pete Hegseth holds a bilateral meeting with NATO Secretary General Mark Rutte (2nd L) at the Pentagon in Washington, DC, April 24, 2025. Brendan Smialowski | AFP | Getty ImagesFireworks could kick off during NATO’s annual summit this week, as the U.S. pushes its allies to sharply increase their defense spending to 5% of their gross domestic product (GDP).The 5% figure is made up of 3.5% of GDP that should be spent on “pure” defense, with an extra 1.5% of GDP going to security-related infrastructure, such as cyber warfare capabilities and intelligence. While some member states…
Timothy A. Clary | Afp | Getty ImagesThe U.S. joining the war between Israel and Iran might seem like a geopolitical flashpoint that would send markets tumbling. Instead, investors are largely shrugging off the escalation, with many strategists believing the conflict to be contained — and even bullish for some risk assets.As of 1 p.m. Singapore time, the MSCI World index, which tracks over a thousand large and mid-cap companies from 23 developed markets, declined only 0.12%. Safe havens are also trading mixed, with the Japanese yen weakening 0.64% against the dollar, while spot gold prices slipped 0.23% to $3,360…
Asia FX weakens, dollar gains after US attacks Iran nuclear sites Source link
The drop isn’t as bad as some experts predicted—with Bitcoin hit the hardest. Source link
A satellite image shows the Fordo nuclear facility in Iran in this handout image dated June 14, 2025. Maxar Technologies | Via ReutersU.S. President Donald Trump on Sunday disputed Iranian attempts to downplay the strikes on its nuclear facilities, stressing that “obliteration” was an accurate description, even though the full extent of the damage to Iran’s nuclear capabilities was not immediately clear.”Monumental Damage was done to all Nuclear sites in Iran, as shown by satellite images. Obliteration is an accurate term! The white structure shown is deeply imbedded into the rock, with even its roof well below ground level, and…
Oil prices jumped more than 7% on Friday, hitting their highest in months after Israel said it struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies.Eli Hartman | ReutersOil markets are entering a new phase of uncertainty after the U.S. entered the war between Iran and Israel, with experts warning of triple-digit prices.Investors are closely watching for Iran’s reaction following the U.S.’ strikes on its nuclear facilities, with Iran’s foreign minister warning his country reserved “all options” to defend its sovereignty. Oil futures were up over 2% as of early Asia hours. U.S. WTI…
On the Iranian strikes, Trump said on Truth Social that the U.S. ‘took the bomb right out of [Iran’s] hands.’ Source link
The Strait of Hormuz isn’t the only concern when it comes to flows of crude and other energy products out of the Middle East. Source link
Will the U.S. intervention continue? Will Trump’s domestic political coalition hold? What impact might a surge in oil prices have on inflation in the U.S.? Source link
Among the most likely options are asymmetric or terrorist attacks, although the time frame is impossible to gauge. Source link