The latest US PPI print came in hotter than expected on Friday night which rattled bond markets somewhat and overspilled into a higher USD and lower stocks across the risk complex. Wall Street continued to wobble while European stocks were shook up by more Russian aggression in the Black Sea. Currency markets continue to see firming to King Dollar on the safe haven with the Australian dollar rolling through below the 65 cent handle.
7US bond markets saw some lifts across the yield curve with the 10 year Treasury up to the 4.1% level while oil prices moderated slightly with Brent crude back below the $87USD per barrel level. Gold rolled over alongside other undollars on its way back to the $1900USD per ounce level.
Looking at share markets in Asia from Friday’s session with mainland Chinese share markets sold off sharply with the Shanghai Composite down over 2% at 3189 points while in Hong Kong the Hang Seng Index has fallen back 0.9% to 19097 points.
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