Asian stocks gain as Iran conflict fears ease
Asian stocks made a small comeback on Friday after US and Israeli leaders helped cool worries about the Iran conflict.
The MSCI Asia Pacific Index ticked up 0.3% following a rough drop the day before.
Israeli Prime Minister Netanyahu said Iran's military threats have faded, which seemed to calm global markets: S&P 500 futures edged higher and oil prices slipped.
Tensions still affecting global markets
Tensions are still shaking up bond and gold markets worldwide. Bond yields in Australia and New Zealand rose as rising oil prices sparked inflation concerns, while UK rates jumped with the Bank of England bracing for more price hikes.
In contrast, US bond yields dipped to 4.25%. Gold had its biggest weekly fall in six years, mostly because hopes for a US interest rate cut took a hit.
Impact on global energy supplies and inflation
The ongoing conflict is still messing with global energy supplies, pushing up fuel prices and making inflation an even bigger headache for many countries.
Central banks in several countries, notably the Bank of England and those in Australia and New Zealand, are under extra pressure to decide their next moves.