Global equity markets and gold prices fell as US Treasury yields surged to multi-decade highs amid persistent inflation fears and geopolitical uncertainty in the Strait of Hormuz. Softer inflation in Canada and weak labor data in the UK suggest those central banks will remain on hold.
Key Takeaways
- 1.Equity markets fell globally as bond yields rose significantly due to persistent inflation concerns.
- 2.Geopolitical tensions in the Middle East are high, with NATO considering deployment to the Strait of Hormuz.
- 3.UK labor market data shows rising unemployment and slowing wage growth, supporting a Bank of England hold.
Table of Contents
- Highlights
- Today (AEST)
- Global markets overview
- Data/event pulse
- Key themes and views
- Commodities
- Important Notice
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Authors
Sophia AngalaBrian MartinDaniel Hynes
Securities
AUDUSDSPXUS 10y TreasuryXAUCL
Themes
Monetary Policy DivergenceGeopolitical Risk to Supply ChainsInflation Re-acceleration Fears
Regions
Asia PacificNorth AmericaUKAustraliaUnited StatesUnited Kingdom