Stocks, Bonds Gain as U.S.-Iran Deal Boosts Risk Appetite Before Fed

In the end, the optimism that had lifted markets last Friday has materialized: the United States and Iran have signed a preliminary agreement. The market reaction has favored equities, but especially bonds, while oil prices have declined and the Health Score has fallen to 40 points. The current risk-on sentiment is leaving cryptocurrencies on the sidelines for the time being, while the U.S. dollar remains strong ahead of the week that will bring the first Federal Reserve decision under Warsh’s leadership. Markets are also awaiting decisions from the Bank of Japan (BoJ) and the Bank of England (BoE). Futures indicate a positive opening for both European and U.S. markets.

Financial markets sentiment

Financial markets are showing a moderately positive sentiment today. Intermarket analysis points to a Market Health Score of 56/100, indicating a moderately positive environment.

Regarding the intermarket dashboards, the most interesting development concerns the relationship between Commodities and Bonds. The break below the 50-day moving average is rapidly pushing the indicator back toward its early-March levels, signaling a reassessment of inflation expectations and weakness in commodities. Risk appetite indicators remain around their medium-term moving averages. The S&P 500/Nasdaq ratio should continue to be monitored to assess how much longer technology stocks can continue to drive the equity rally.

Looking at the major asset classes, the week begins with both global equities and global bonds trading above their 50-day moving averages and likely poised for further upside. In contrast, commodities have broken below the support provided by the 50-day moving average, and the expected pullback in oil prices could accelerate the downward momentum.

The market weather map once again points to a risk-on environment, with U.S. and European equities scoring above 50, Asian equities attempting to recover despite the strength of the dollar, and bonds gaining three points over the past week to move back toward neutral territory. The U.S. dollar remains strong ahead of the first Fed meeting under Warsh’s leadership, while oil and cryptocurrencies register the lowest scores.

Global Futures – Pre-Market Sentiment

Pre-Market Futures: Global futures are signaling a risk-on sentiment (average +1.46%), with the U.S. showing a very positive outlook (+1.41%), Europe also very positive (+1.38%), and Asia particularly strong (+1.77%).

Macroeconomic calendar

On the macroeconomic front, today’s agenda includes Eurozone industrial production data for April, German wholesale prices for May, and U.S. industrial production figures for May 2026.

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NOTES AND WARNINGS

Data compiled by kbmeter.com. Analysis date: 15 June 2026 - 7:24 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.