Even if the Federal Reserve’s James Bullard said something hawkish, it doesn’t seem to have caused a stir in bond markets. This is because hopes raised by the latest U.S. CPI numbers that rising inflation may be coming to an end have slowed down bond markets.
As a side note, New Zealand’s central bank just raised interest rates by 50 basis points, which was its biggest rise in more than two decades. It maintained its previous forecast of interest rates peaking at 3.35 percent by the end of 2023.
So, the Kiwi dollar hasn’t risen as much as it should have.
The dollar’s rise has also come to a halt, and the yields on 10-year U.S. Treasury notes haven’t risen above three-year highs for the last few months.
Even though China’s trade data was mixed and imports unexpectedly dropped in March, it didn’t have an effect on the rest of the world’s markets. An Asian stock market index is up more than 1%, and U.S. stock index futures are also up.
Futures for European stock indexes aren’t moving very far after Vladimir Putin said that talks with Ukraine “have again returned to a dead-end situation for us.” Even the euro took a hit because of that,
Oil held on to its gains after a big rise overnight. Brent crude futures settled above $105 a barrel, pushing inflation expectations up across the board. Breakeven rates in Germany have risen above 6%, the highest since 2009 when the data was first kept.
Geography: Joe Biden said for the first time that Moscow’s invasion of Ukraine amounts to genocide, which is a very bad thing. According to a poll by Reuters and Ipsos, his public approval rating has dropped to 41%.
Boris Johnson, the British Prime Minister, was fined for breaking coronavirus lockdown rules by having a party in his office to celebrate his birthday. He apologized, but he didn’t resign.
On Wednesday, there are a few things that should give the markets more direction.
In March, the inflation rate in the United Kingdom rose to a 30-year high of 7.0%.
The US PPI is in the corner.
This is what happened with the Bank of Canada’s rate.
– JP Morgan and Blackrock earned money (NYSE: BLK)
The Benetton team is trying to buy Atlantia for about 30% more than it’s worth.
It’s because of the Ukraine war that OPEC is cutting its forecast for world oil use in 2022.