U.S. administration wants a quick deal with Iran: Barclays

• Markets are taking a 'risk-on' view, but oil supply disruptions could last for weeks to months, keeping energy prices elevated.
• Natural gas supply is a significant concern for Asia, with many countries having limited reserves (days to weeks).
• Major central banks (ECB, BoE, Fed) are turning hawkish, with the Fed's rate cuts potentially pushed back to September and March next year.
• US Treasury yields are being closely watched, with concerns about rising rates impacting the bond market and potentially influencing US policy on Iran.

The discussion centers on persistent energy supply disruptions, particularly for emerging Asia, with Barclays forecasting a challenging 2026. Elevated oil and natural gas prices are expected to continue for months, impacting energy-importing nations. Major central banks are shifting towards hawkish policies, with the Fed potentially delaying rate cuts, creating a complex economic outlook.