Friday 22nd April 2022
Markets are a little easier to understand today. Bond yields are back on the rise, given inflation expectations and more hawkish rhetoric from central banks. That’s hit equities. NAB’s Ken Crompton agrees that it’s a more text-book response to what we have been seeing, with equities and yields rising in tandem. There have been particularly strong moves for front end yields of European bonds, with some members giving a more hawkish timetable for rate rises. Today PMIs will be closely scrutinised to get a flavour of growth and conditions across Europe, the UK and USA.