📰 Hourly Briefing | 2026-07-08 10:00 CST

📊 Market Snapshot

🔥 Major News This Hour

🟥 US Launches Massive Strikes on Iran, Hitting 80+ Targets

US Central Command confirmed a new wave of offensive strikes against Iran on July 7, using precision-guided munitions to hit over 80 targets. The strikes targeted Iranian air defense systems, command-and-control networks, coastal radar stations, anti-ship missile capabilities, and more than 60 IRGC fast-attack craft. The US framed this as an immediate response to Iran’s recent attacks on commercial vessels transiting the Strait of Hormuz. CENTCOM also warned that forces remain on high alert, ready to hold Iran accountable if it fails to comply with agreements. The ceasefire lasted less than 20 days, with this round of strikes five times larger in scale than previous operations.

🟥 Iran Media Reports Explosions in Bahrain, Retaliation Risk Soars

Iranian state media reported multiple explosions in Bahrain, suggesting Iran may have launched retaliatory strikes against US military facilities in Gulf states. This follows the US revocation of a general license that had permitted Iranian oil sales, further tightening sanctions. Iran had previously formally asserted sovereignty claims over parts of the Strait of Hormuz to the UN.

🟡 Oil Prices React Violently: SC Crude Surges Over 4%

Escalating geopolitical tensions combined with the US revoking Iran’s oil sanctions waiver sent SC crude futures surging 4.44% to 458.9 CNY/bbl at the open. Low-sulfur fuel oil jumped over 5%, and fuel oil rose nearly 5%. WTI and Brent both spiked $0.3 intraday. Hong Kong’s “three barrels of oil” rallied in tandem, with CNOOC up over 4%.

🔵 Japan 10Y Yield Hits 2.865%, Highest Since 1996

Japan’s long-term rates continued their climb, with the 10-year JGB yield briefly touching 2.865% — the highest level in nearly 30 years. Market expectations for further BOJ policy tightening are intensifying.

🟢 RBNZ Rate Decision Imminent

The Reserve Bank of New Zealand will announce its interest rate decision imminently (10:00 CST), with markets watching closely.

⚪ Other Notable Items

• White House directly pressured Walmart and other supermarkets to lower beef prices as Trump wages an “anti-inflation price war”
• Gold ETFs saw $18 billion in outflows last month, the worst monthly performance for the three-year bull market in nearly two decades
• Fed June meeting minutes due soon; Waller maintains his “silent hawk” stance
• China A-shares opened high but faded; humanoid robotics and industrial machine tool concepts led declines; innovative drug sector bucked the trend

🧭 Strategic Assessment

The US-Iran conflict has abruptly escalated from “commercial vessel harassment” to “full-scale military strikes” — this is the most significant macro variable of the day.

The scale of US strikes (80+ targets) far exceeded market expectations, with explicit rights reserved for further action. The Strait of Hormuz transit threat has been raised to “severe” level.

Iran is signaling through the Bahrain explosion reports that the retaliation chain is not yet closed. Middle East risk premium will continue to support oil prices in the coming days.

SC crude’s 4%+ surge reflects direct pricing of supply disruption risk by Asian markets. If the conflict extends to actual blockage of Strait passage, oil upside will open further.

Japan’s 10Y yield approaching 2.9% indicates the global rate-tightening cycle is still underway, pressuring both growth stock valuations and gold.

Massive gold ETF outflows are the core driver of gold’s recent weakness, but the repricing of geopolitical risk could interrupt this trend.

A-shares opening high and fading signals fragile domestic sentiment. With external geopolitical risks heating up, near-term risk appetite recovery looks unlikely.

⏰ Upcoming Key Events

• 10:00 RBNZ Interest Rate Decision
• This Week Fed June Meeting Minutes
• Ongoing US-Iran conflict developments, Strait of Hormuz transit status