Investment Daily: Lower energy prices supported global stocks and bonds
22 September 2026
Key takeaways
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US stocks and Treasuries rose.
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European stocks and government bonds rose.
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Asian stocks rose.
Markets
US stocks advanced on Monday amid lower oil prices and led by gains in tech shares. The S&P 500 rose 1.5%.
US Treasuries rose as lower oil prices eased near-term inflation concerns. 10-year yields fell 5bp to 4.95%.
European stocks rose on Monday amid lower energy prices. The Euro Stoxx 50 rose 1.3%. The German DAX gained 1.1% and the French CAC was up 0.9%. In the UK, the FTSE 100 closed 0.7% higher.
European government bonds rose. 10-year German bund yields fell 6bp to 3.46% and 10-year French bond yields fell 9bp to 4.47%. In the UK, 10-year gilt yields fell 8bp to 5.21%.
Asian stock markets rose on Monday amid lower oil prices and renewed AI optimism ahead of this week’s US-China leader meeting. Japan’s Nikkei 225 and Korea’s Kospi rose 1.4% and 1.6%, respectively. Elsewhere, Chinese equities rallied on policy hopes, with China’s Shanghai Composite up 1.0% and Hong Kong’s Hang Seng up 1.2%. India’s Sensex gained 0.8%.
Crude oil prices dropped on Monday. WTI for October delivery settled 4.5% lower at USD95.8 a barrel.
Key Data Releases and Events
Releases yesterday
The Bank of Japan (BoJ) raised its policy rate by 25bp to 1.00%, as widely expected, and decided to halt the reduction in JGB purchases from April 2027. The BoJ highlighted the risk of underlying CPI inflation deviating upward above 2%.
The Reserve Bank of Australia (RBA) kept its policy rate unchanged at 4.35%, as widely anticipated. Governor Bullock noted upside risks to inflation and did not rule out further tightening.
In China, May activity indicators continued to reflect a two-speed economy. Industrial production showed resilience, up 4.5% YOY, driven mainly by gains in high-tech manufacturing and new energy sectors thanks to robust exports. However, non-tech domestic demand was softer than expected as the property sector remained under pressure. Retail sales fell 0.6% YOY, partly reflecting an unfavourable base effect from last year’s trade-in subsidies. Fixed asset investment contracted by 4.1% YOY in the first five months, despite strong advanced manufacturing investment.
Releases due today (22 September 2026)
No major releases.
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