Following the assassination of Ayatollah Khamenei, the former leader of the Islamic Republic, the regime announced Mojtaba Khamenei as his successor. However, several days later, he has not delivered any speech or statement clarifying his positions. Trump has repeatedly called Mojtaba Khamenei’s leadership unacceptable, stating, “we will see what happens.” According to reports, Mojtaba Khamenei was seriously injured in the first-day attack, and his health status remains unclear. Pete Hegseth, the US Secretary of Defense, has also not commented on his condition. Meanwhile, attacks from both sides continue, and early Wednesday one branch of Bank Sepah in Iran was attacked. In response, a spokesperson for Khatam al-Anbiya Headquarters threatened that Israeli and American banks in the region would be targeted.

Goldman Sachs has forecast that US inflation for February will be lower than market expectations, with core CPI rising about 0.17% month-on-month (below the 0.2% estimate) and annual core inflation at 2.42%. Falling prices for used cars, auto insurance, and moderation in housing inflation are the main factors softening price pressures, although tariffs may exert mild upward pressure. These data could influence the Federal Reserve's monetary policy path and bond yields, while supporting risk assets.

US markets experienced sharp volatility while Brent crude traded near $90, with S&P 500 futures fluctuating between gains and losses and Oracle standing out with a 10% premarket rise. Tensions in the Persian Gulf and Strait of Hormuz, including attacks on ships and threats from Iran, have pressured oil supply, and the International Energy Agency proposed releasing 400 million barrels of emergency oil. Investors are concerned about rising inflation and aggressive central bank responses, while JPMorgan has marked down loan values and imposed credit limits. February US inflation data will be closely watched on Wednesday to gauge the Federal Reserve's monetary policy path and pressure on risk assets.

The International Energy Agency (IEA) has proposed the largest release of emergency oil reserves in its history, between 300 and 400 million barrels, to control sharp oil price increases caused by the Middle East war. This exceeds the 182 million-barrel intervention in 2022 after Russia's invasion of Ukraine and includes US strategic reserves and those of other OECD countries. However, some analysts doubt that these reserves can quickly cover the daily supply shortfall of 11 to 16 million barrels from the Persian Gulf