Global supply of key food and energy commodities is starting to impact the global economy. Rising core inflation and hawkish Central Bank policy could further impact economic growth. The Global Price Index of All Commodities has more than doubled since its pandemic low in Q2 2020. https://oilpric.
Beijing prodding may have reversed much of the week’s equities market pain, though I doubt positive sentiment will return anytime soon. Click here to read a weekly update.
Reuters writers Rajendra Jadhav and Mayank Bhardwaj reported today that, "But a rare confluence of high international prices, consecutive record crops, a weaker rupee against the dollar and improved internal logistics have made shipments from India attractive."
Ten-year Treasury yields jumped another 12 bps this week, with a two-week gain of 44 bps. War rages in Ukraine with no end in sight. Click here for a full update.