For all the central bank assurances about the inflation spike being transitory, investors are struggling to look past the biggest annual rise in U.S. inflation in 31 years. Here's a look at the day ahead from Marketmind: via reutersSujataR
Ouch. For all the central bank assurances about the inflation spike being transitory, investors are struggling to look past the biggest annual rise in U.S. inflation in 31 years.
World stocks have stabilised though, after the previous day's 0.7% tumble, supported by news that stricken Chinese developer Evergrande had come good on bond coupons, dodging default for the third time in a month. The bonds in question have risen around half a cent in price. On an inflation-adjusted basis, 10-year U.S. yields plunged to a new record low below -1.2%, keeping alive the there-is-no-alternative narrative.
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