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Mojtaba Khamenei: The Rise of Iran’s New Supreme Leader

                      A picture of Iran's new supreme leader, Mojtaba Khamenei, is displayed on a screen in Tehran Mojtaba Khamenei, 56, has emerged as Iran’s new supreme leader following the assassination of his father, Ayatollah Ali Khamenei, in joint U.S.–Israeli strikes. His appointment by the Assembly of Experts comes at a moment of profound crisis for Iran, as the country faces regional war, internal instability, and intense international scrutiny.  A Secretive Heir With Deep Establishment Ties Mojtaba, long considered influential behind the scenes, is a mid-ranking cleric with strong connections to the Islamic Revolutionary Guard Corps (IRGC). His political rise signals continuity of Iran’s hardline establishment, despite the country’s ideological discomfort with hereditary succession.  A Leader Shaped by Conflict and Loss His ascension comes amid the “Ramadan War,” during which he was reportedly wound...
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Treasuries Extend Selloff Amid Hawkish Fed Views


The world’s largest bond market is experiencing continued turbulence as hawkish Federal Reserve (Fed) views persist. Here are the key points:

  1. Asian Stocks Under Pressure: Asian stocks are set to open lower after US shares extended their losing streak to the longest since January. Equity futures contracts in Japan, Hong Kong, and South Korea indicate early losses, while those in Australia and China gained. Investors will closely watch Asian chipmakers like Taiwan Semiconductor Manufacturing Co. and Tokyo Electron Ltd.

  2. ASML Holding NV’s Warning: Europe’s most valuable tech firm, ASML Holding NV, reported a tumble in orders during the first quarter. Its China sales are likely to be hampered by US export control measures. This news has raised concerns for semiconductor stocks.

  3. US Bond Market: Despite solid economic readings, the US bond market faces headwinds. Jerome Powell’s recent comments have dampened rate-cut expectations. However, dip buyers emerged in the Treasury market, with two-year yields dropping below 5%. A $13 billion sale of 20-year bonds also drew solid demand.

  4. Investor Sentiment: Investors remain skeptical about how much further US stocks can rally after their strong performance in the first quarter. The latest pullback occurs even as US economic data point to continued strength.

  5. Dollar and Currencies: The dollar was little changed in Asia after falling for the first time in six days. Japanese yen and Korean won have also experienced significant declines against the dollar this year.

  6. Outlook: UBS Global Wealth Management expects the yield on the 10-year US Treasury to end the year around 3.85%. The Fed’s rate cuts, though delayed, are still anticipated, leading to further bond market adjustments.

In summary, the bond market remains sensitive to Fed communications, economic data, and global events. Investors should closely monitor developments as interest rates continue to be a focal point.


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