Shahid Abdullah/iStock via Getty Images The UAE is preparing to help the U.S. and allies open the Strait of Hormuz by force and is lobbying for a United Nations Security Council resolution for the action, Arab officials told The Wall Street Journal . Emirati diplomats are pushing the U.S. as well as European and Asian military powers to form a coalition to open the waterway by force. The UAE is re...
Shahid Abdullah/iStock via Getty Images The UAE is preparing to help the U.S. and allies open the Strait of Hormuz by force and is lobbying for a United Nations Security Council resolution for the action, Arab officials told The Wall Street Journal . Emirati diplomats are pushing the U.S. as well as European and Asian military powers to form a coalition to open the waterway by force. The UAE is reviewing how it could play a military role in securing the strait, including helping to clear the area of mines, an Emirati official told WSJ . Some Arab officials said the UAE wants the U.S. to occupy islands near the Strait of Hormuz, including Abu Musa, which is currently administered by Iran but is claimed by the UAE. There is "broad global consensus that freedom of navigation in the Strait of Hormuz must be preserved," the Emirati foreign ministry said in a statement. Iran has reportedly launched close to 2,500 missiles and drones on the UAE since the war broke out, more than it has aimed at any other country, including Israel. Tehran has warned that it would destroy civilian infrastructure of any Gulf state that supported any attacks on its territory, specifically pointing to the UAE. More on U.A.E. What The Iran War Means For Neighboring Markets UAE: Motoring Along Nicely With Some Fine Tailwinds Bahrain pitches UN resolution to secure Hormuz shipping; Gulf states weigh joining war Gulf states push U.S. to neutralize Iran threat - report
US Treasuries climbed on speculation that an imminent end to the war in Iran may pave the way for the Federal Reserve to start cutting interest rates again. The yield on two-year and 10-year government notes dropped as much as six basis points to 3.73% and 4.26%, respectively, as Brent futures fell below $100 a barrel. The Bloomberg Dollar Spot Index declined as much as 0.4%. Optimism is growing t...
US Treasuries climbed on speculation that an imminent end to the war in Iran may pave the way for the Federal Reserve to start cutting interest rates again. The yield on two-year and 10-year government notes dropped as much as six basis points to 3.73% and 4.26%, respectively, as Brent futures fell below $100 a barrel. The Bloomberg Dollar Spot Index declined as much as 0.4%. Optimism is growing that the Middle East conflict rattling global markets may soon end, after US President Donald Trump said on Tuesday that it could conclude within two to three weeks. He is expected to address the nation on Wednesday night. “For Trump, this is not something he can afford to let drag on, with approval ratings starting to decline and risk continuing to fall,” said Kenta Inoue , a senior fixed-income strategist at Mitsubishi UFJ Morgan Stanley Securities Co. in Tokyo. As concern over an energy crisis eases, “the short-end of the yield curve is expected to drop to price in Fed rate cuts while the long end will struggle to rise.” A Bloomberg gauge of US government bond returns lost 1.7% in March, the biggest monthly decline since late 2024. “The dollar has emerged as the main beneficiary from the war in Iran and in the process has emerged as the biggest long in the FX markets,” said Valentin Marinov , head of G-10 FX research and strategy at Credit Agricole. “We are seeing the unwinding of some of these longs right now.”