What immediate market impact did Trump's remarks about the Iran deal have on oil prices and inflation-sensitive assets?

Trump's remarks that the interim agreement with Iran 'is over' triggered a 5% surge in oil prices, pushing Brent futures to a two-week high and causing inflation-sensitive assets like bonds and gold to tumble; as Aneeka Gupta of Wisdomtree stated, it was 'a big wake-up call for markets' because it reversed expectations of increasing oil supply and declining inflation pressures.

How did bond yields and inflation expectations respond globally following Trump's comments?

Bond yields surged globally—Germany and Britain’s 2-year yields jumped 10 bps, while U.S. 2-year yields rose 5 bps—with traders raising expectations of central bank tightening: euro zone CPI inflation expectations rose 14 bps to 1.992%, and markets priced in 36 bps of Fed tightening and 32 bps of Bank of England tightening, though U.S. one-year consumer inflation expectations remained low at 2.15%.

Investors Get Inflation 'Wake-Up Call' as Trump Remarks Spike Oil Prices

Jul 8, 2026

Trump's declaration ending an interim agreement with Iran triggered a 6% surge in oil prices, reigniting global inflation concerns. This shift caused significant volatility in bonds, gold, and equities as investors reassessed economic outlooks.

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