Global Market Today: Asian shares gain as US-Iran deal takes effect

Asian shares rose and US stock futures climbed up to 1% after the US-Iran memorandum of understanding to reopen the Strait of Hormuz took effect, easing geopolitical tensions. Brent crude fell more than 1% to below $79 a barrel, while the yen weakened to its lowest level against the US dollar since July 2024. However, the Federal Reserve's hawkish signal that half of policymakers expect rate hikes this year triggered a global bond selloff, with two-year Treasury yields jumping 13 basis points to 4.18%.