Jakarta, April 10, 2026 – Global financial markets moved in a mixed and volatile pattern at the end of the week, reflecting complex dynamics driven by geopolitical uncertainty in the Middle East. While Asia-Pacific markets posted gains, investor sentiment remained cautious amid ongoing tensions between the United States and Iran, particularly regarding disruptions in the strategic Strait of Hormuz.
Asia-Pacific Gains, but Sentiment Remains Fragile
Equity markets across Asia-Pacific closed higher on Friday, supported by market expectations surrounding a temporary ceasefire between the United States and Iran. However, optimism remained limited as investors continued to assess underlying risks.
The conflict, now entering its second month, has significantly impacted global energy flows. The Strait of Hormuz—responsible for transporting roughly 20% of the world’s oil supply—continues to face restricted activity despite a two-week ceasefire agreement.
Iran has expressed its willingness to reopen the waterway, contingent upon a complete halt to attacks against its territory. Meanwhile, reports indicate that Israel has also agreed to the ceasefire, although developments on the ground suggest that tensions have yet to fully subside.
European Markets Weaken, Travel Sector Under Pressure
In contrast to Asia, European equities closed lower, with the travel and leisure sector among the hardest hit as concerns over global mobility disruptions intensified.
Shares of Lufthansa and travel operator TUI declined, reflecting investor concerns over a potential slowdown in international travel demand in the near term.
Oil Prices Edge Higher Amid Supply Disruptions
Global energy markets remained volatile, with crude oil prices edging higher due to constrained shipping flows through the Strait of Hormuz and additional disruptions to energy infrastructure.
West Texas Intermediate (WTI) crude rose to approximately USD 98.29 per barrel
Brent crude increased to around USD 96.48 per barrel
The upward pressure was further supported by supply disruptions in Saudi Arabia following attacks on energy facilities, which reduced production capacity by hundreds of thousands of barrels per day.
A statement from U.S. President Donald Trump warning Iran against imposing transit fees on oil tankers passing through the strait added to geopolitical tensions and influenced energy market sentiment.
U.S. Treasuries Stable as Markets Await Inflation Signals
In the bond market, U.S. Treasury yields remained relatively stable, reflecting a cautious stance among investors ahead of key inflation data releases.
The 10-year Treasury yield stood at around 4.28%
The 2-year yield was approximately 3.78%
The 30-year yield hovered near 4.89%
This suggests that market participants are maintaining a wait-and-see approach regarding the trajectory of monetary policy, particularly in response to evolving inflationary pressures.
Gold Gains as Safe-Haven Demand Strengthens
Gold prices moved higher, supported by a weaker U.S. dollar and increased demand for safe-haven assets.
Spot gold rose by approximately 1.7%
U.S. gold futures climbed to near USD 4,823 per ounce
However, further upside may be limited by expectations of prolonged higher interest rates. Persistent inflation could prompt the Federal Reserve to maintain a tighter monetary stance, potentially reducing gold’s appeal as a non-yielding asset.
Outlook: Risks Remain Elevated
While the ceasefire between the United States and Iran offers temporary relief to global markets, underlying risks remain elevated. Ongoing supply disruptions, geopolitical tensions, and inflationary pressures continue to shape the near-term outlook.
According to analysts at JPMorgan, the ceasefire could provide a medium-term stabilizing effect. However, its sustainability will largely depend on consistent implementation and further geopolitical developments in the region. Disclaimer on!
