Oil Supported After Iran Missile Attacks; Treasuries Recover; Asian Tech Stocks Weaken, Commerzbank Says

Oil prices remained supported after Iran reportedly fired missiles at commercial vessels in the Strait of Hormuz, with a Qatari liquefied natural gas vessel said to have been hit, Commerzbank said in a note. The U.S. dollar was softer. Iran also warned that final talks won't begin while threats continue, wrote the bank in a note. Markets were mixed, stated Commerzbank. Treasuries recovered into the New York close after early weakness, while Bund yields fell to fresh lows in Asia before stabilizing. Asian tech stocks weakened after Samsung's results, with the KOSPI down 8%. President Donald Trump said a resolution to the Russia-Ukraine war is "getting closer" following conversations with Presidents Vladimir Putin and Volodymyr Zelenskiy, according to Commerzbank. At the European Central Bank, policymakers remained cautious, noted Commerzbank. Member of the Executive Board Isabel Schnabel said the eurozone hasn't returned to its pre-war environment, citing persistent supply pressures and the fragility of any peace agreement. In the U.S., Federal Reserve Governor Christopher Waller argued that forward guidance should remain flexible and, in some cases, may be best avoided.