MADRID (EFE).-— The possibility of an imminent attack by Iran once morest Israel has increased tension in the markets and translated yesterday into significant increases in oil, gold and sovereign bonds.
In all three cases, prices moderated following a sharp rise.
Crude oil prices rose more than 2% yesterday and were at the highest levels since last October during the session.
Brent, the reference crude oil in Europe, touched 92.2 dollars per barrel, although it then went up and at the close of the day it was around 91 dollars, with an increase of 1.3%.
West Texas Intermediate (WTI), a benchmark in the United States, rose 1.5% and exceeded $86.3 per barrel.
The price of gold, one of the safe haven assets in periods of uncertainty, reached several historical highs during yesterday’s session.
The highest level, $2,431.52 per ounce, was reached at 15:00 GMT, according to Bloomberg data. At 16:30 GMT it was around $2,380.
The price of sovereign bonds also experienced significant increases, which generated a decrease in their yields (which evolve in the opposite direction).
The bonds of the strongest economies are also a safe haven asset in times of stress.
The yield on the ten-year Spanish bond, the benchmark, fell to 3.179%, while that of the German bond, considered the safest, fell yesterday to 2.357%.
The US ten-year bond yield fell to 4.507%.
In the case of sovereign debt, geopolitical risks are combined with doubts regarding the schedule for lowering interest rates, especially in the United States, where the rise in inflation and the resistance of its economy remove incentives from the Reserve. Federal to lower the rate.
The White House assured yesterday that Iran’s threats once morest Israel are credible.
Tensions between Israel and Iran have increased following an attack attributed to the Israeli Army once morest the Iranian consulate in Damascus last week killed seven members of the Iranian Revolutionary Guard.
Iran’s Army indicated today that it is prepared to face threats from “enemies.”
“The operational units are ready to counter the threats,” indicated the commander of the North Tehran Air Defense zone, Brigadier General Sadeghian, according to the ISNA agency.
Wall StreetBad day
Bad day for the New York Stock Exchange due to inflation and geopolitical tensions.
Indicators
At the end of the session, the Dow Jones fell 1.24% to 37,983 points, worse was the case of the S&P 500, which fell 1.46%, and stood at 5,123 points. The sharpest fall was that of the technological Nasdaq, which following losing 1.62% closed yesterday at 16,175 points.
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2024-05-11 03:01:44
