Global markets are under pressure as high US CPI data and UK political turmoil drive bond yields and the USD higher. Equity markets, particularly tech-heavy indices, have declined in response to rising rates and geopolitical uncertainty.
Key Takeaways
- 1.US CPI inflation exceeded expectations in April, with headline inflation reaching a three-year high of 3.8% y/y.
- 2.Global risk sentiment has weakened due to stalling Middle East peace talks, persistent inflation, and falling semiconductor stocks.
- 3.UK political instability has pushed 10-year Gilt yields to 5.10% and 30-year rates to levels not seen since 1998.
Table of Contents
- Events Round-Up
- Good Morning
- Coming Up
- Currencies
- Other FX
- Equities
- Commodities
- Interest Rates
- Carbon Price
- Policy Meeting Run
- NZ BKBM and Swap Yields
- NZ Inflation-Indexed Bonds
- Contact Details
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Authors
Jason WongStephen ToplisDoug SteelStuart RitsonMike Jones
Securities
NZD/USDBrent CrudeS&P 500UK 10-Year GiltNasdaq
Themes
Monetary Policy HawkishnessPolitical InstabilityStagflationary Pressures
Regions
North AmericaAsia PacificUKUnited StatesNew ZealandAustralia