Oil has pushed higher with an EU partial ban on Russian oil. NAB’s Taylor Nugent says inflation concerns are again front and centre, with bond’s sold off and equities taking a hit.
Equity markets are still rising despite a far higher inflation numbers from Germany. NAB’s David de Garis says food and oil are driving much of the increase and perhaps there’s an expectation that they are close to topping out.
Equity markets rose again in the US on strong earnings, but as NAB’s Gavin Friend points out in today’s podcast, bond markets have not responded, focused instead on what the Fed is doing and what impact that will have on the economy
Markets are still responding to the weaker CPI read this week and don’t seem to believe the Fed when it says there’s still work to do. But NAB’s David de Garis says oil is the real inflationary concern as the northern winter approaches. https://t.co/byTJ4y58Db