UBS GLOBAL RESEARCH EXPECTS BOE TO DELIVER TWO 25 BP INTEREST RATE CUTS EACH IN NOVEMBER 2026 AND FEBRUARY 2027 VS PRIOR FORECAST OF CUTS IN APRIL AND JULY 2026

US 10-YEAR TREASURY YIELD RISES TO 4.33%, HIGHEST SINCE AUGUST LAST YEAR

US equities fell Friday, extending a four-week decline, as concerns over the Iran conflict and potential US moves against Kharg Island weighed on sentiment. The Dow Jones Industrial Average dropped 0.97% to 45,574.92, the S&P 500 fell 1.51%, and the Nasdaq Composite slid 2%. Oil prices remained elevated, with Brent near $105 a barrel and WTI around $97, amid continued Iranian attacks in the Persian Gulf and market fears of supply disruptions. Analysts noted ongoing damage could keep oil prices high.