Australian Morning Focus

Global markets saw a significant bond sell-off and equity decline as oil prices surged due to Middle East tensions. Strong US industrial data and positive US-China trade developments were offset by shifting central bank expectations.

Key Takeaways

• 1.A sharp global bond market sell-off triggered a decline in equity markets while driving crude oil prices higher.
• 2.US industrial production significantly outperformed consensus expectations in April, rising 0.7% m/m.
• 3.Geopolitical tensions in the Middle East and supply disruptions are providing upward pressure on energy prices.

Table of Contents

• Highlights
• Today (AEST)
• Global markets overview
• Data/event pulse
• Key themes and views
• Commodities
• Important Notice

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