Global markets
It was another challenging week for global markets, not helped by a higher than expected U.S. inflation report and a concession by Fed chair Powell that he might not be able to stop the economy tumbling into recession. China’s harsh yet seemingly futile efforts to contain COVID via lockdowns is also unnerving sentiment,

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Global markets
Such is the potentially oversold nature of global equity markets in at least the short-term, stocks managed to surge last week on the day the U.S. Federal Reserve delivered the widely expected 0.5% interest rate increase – merely because Fed chair Powell seemingly ruled out larger 0.75% rate increases at future meetings.

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Global Markets
Mixed earnings reports, hot U.S. wage and price inflation, and the prospect of an aggressive U.S. Fed rate hike conspired to send global equities lower again last week. Of course, we can add to this worrying mix, renewed concerns over China’s economy due its harsh lockdowns and the raging war in Ukraine.

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Global Markets
It was a familiar story last week, with global equities again under pressure from the onslaught of hawkish rhetoric from central bankers. The highlight was no less than U.S. Fed Chair Powell hinting at a 50 basis point rate hike at next week’s Fed meeting. Of course, the bond market has been pricing this risk for sometime (it is also pricing in a 50bps move in June),

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Global Markets
Higher bond yields and oil prices caused global equities to remain on the defensive last week, with further hawkish talk from the Federal Reserve, OPEC stubbornness, ongoing Russia-Ukraine hostilities and uncomfortably high US inflation. One glimmer of hope was talk that U.S. inflation may at least have “peaked”.

Chicago Fed President Charles Evans joined the chorus of Fed speakers strongly hinting at a 0.5% U.S.

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