Early Morning Reid

Global markets faced a sell-off in bonds and equities as US core inflation beat expectations and geopolitical tensions pushed Brent oil above $107/bbl. In the UK, political turmoil regarding PM Starmer's leadership pushed gilt yields to 16-year highs.

Key Takeaways

• 1.Brent and WTI oil prices have spiked above $107/bbl and $102/bbl respectively due to growing uncertainty over a US-Iran deal.
• 2.Hotter-than-expected US core CPI data (0.4% m/m) triggered a sell-off in global fixed income, pushing the 10yr Treasury yield to 4.46%.
• 3.The US Senate confirmed Kevin Warsh to the Fed Board, with a final vote to confirm him as Fed Chair expected today amidst a hawkish inflation backdrop.

Table of Contents

• Key Market Data
• Other Market Data
• Key Economic Data
• Topical Deutsche Bank publications
• Appendix 1
• Analyst Certification
• Important Disclosures
• Additional Information
• International Production Locations

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