Uncertainty in markets today. NAB’s Ken Crompton says there’s a continuing tension between the Fed talking up rate rises and whether that will prompt a recession. Data releases didn’t provide any room for positive thinking.

Rising oil prices means energy companies are making mega-profits. I ask Steve Keen if they should pay a windfall tax on this unexpected income?

Hopes of lockdown easing in China supported positive sentiment on Friday, but on today’s podcast NAB’s Tapas Strickland suggests one reason why that sentiment might shift today.

The market is very brittle today, says NAB’s David de Garis, with no clarity on when inflation will peak, how much is supply side and how far central banks will have to go. Add China’s lockdowns and the war. In short, a world of worry.

The market focus was on the US CPI print overnight says NAB’s Skye Masters, with a surprise lift in the core number. That’s hit shares, and front end yields, but less movement in longer dated bonds suggest markets haven’t changed their view of the end-game for the Fed.

Shares have been on the rise, but NAB’s Rodrigo Catril says we haven’t seen any great news over the last 24 hours and the underlying problems remain. Even falling oil prices could be shortlived, he says on today’s podcast.