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Markets Today: Oil jumps, shares fall, inflation forecasts worsen
podcast US equities reversed gains from the previous day while European equities extended their recent decline. Rise in oil prices fuels inflationary concerns and need for central banks to increase their hawkishness. The OECD joins the downbeat chorus on the global economic outlook noting the “The world is set to pay a hefty price for Russia’s war against Ukraine”. Core global bond yields have shifted higher with European sovereign yield leading the move while a soft 10y auction didn’t help US Treasuries. 10y UST move back above 3%, helping extend the recent move up in USD/JPY, now above ¥134, a new 20 ... (full story)