Market Commentary: Friday 27th March

Equities attempted to stabilise after a sharp global selloff, as the US delayed its deadline for Iran to agree to a ceasefire by 10 days, offering a temporary reprieve to markets. US and European futures rose around 0.5%, while Asian equities pared earlier losses to close modestly lower, as investors cautiously responded to the extension.

Despite the rebound, sentiment remains fragile, with global equities still on track for their worst month since 2022 as the conflict continues to fuel inflation concerns and weigh on growth expectations. Oil pricing remains elevated, while bond markets extended their selloff, with yields continuing to rise as investors price in a “higher-for-longer” policy outlook.

Activity this morning is pointing toward cautious positioning as markets await further developments. Data-wise, it is a quieter session, with the University of Michigan Sentiment release due this afternoon.

• S&P 500 futures +0.5%
• Nasdaq 100 futures +0.5%
• Euro Stoxx 50 futures +0.4%
• US 10-year yield +2 bps to 4.43%
• Bitcoin −0.5% to $68,643
• Gold +2.0% to $4,461
• WTI −0.4% to $94.14

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