Big movements in bond yields. NAB’s Gavin Friend says there’s an expectation that more central banks will move rate rises forward. Including the RBA?

Former US Treasury Secretary Larry Summers warns that the US is losing control of inflation. The debate is still unresolved says NAB’s Rodrigo Catril, but expectations could become a self-fulfilling prophecy.

Oil hit the highest since 2014. NAB’s Tapas Strickland says OPECs reluctance to up production is a big part of it. Also today, as banks continue to talk about tightening, will Joe bIden finally get some extra fiscal stimulus over the line?

On Friday Jerome Powell says its time to taper, but not raise rates. The labour market needs time to heal, he said. Meanwhile, NAB’s Ray Attrill says positive PMIs at the end of the week show whilst we have inflation, there’s no sign of stagnation.

Bond markets have been bitten by the inflation bug, says NAB’s David de Garis, with bond yields pricing in a 5 year average close to 3% for the US, and over 4% for the UK.

NAB’s David de Garis says the Fed Beige Book today reports on how many businesses say customers can cope with increased prices. So does that mean inflation will be transitory? Everyone has their own idea!

NAB’s Ray Attrill says the US dollar is being kept in check as investors see other central banks moving faster than the Fed. Like the BoE for example, but will they live to regret it?

Inflation concerns are rising, pushing yields higher, whilst China is showing signs of a significant slowdown. NAB’s Rodrigo Catril says the big question is, is it a blip or something more fundamental?

It was an exuberant session on Friday says NAB’s Tapas Strickland driven by US retail sales along with stellar bank earnings, but there are plenty of headwinds which should urge caution, including rate rises being brought forward as inflation fears continue to rise.

Something has cracked, says NAB’s Gavin Friend, which has seen longer term bond yields falling, despite inflation concerns. Yet inflation remains a concern, even though PPI numbers in the US fell overnight.