Business Maverick: Stock Rout Deepens as Inflation Woes Hit Sentiment: Markets Wrap

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US stocks extended losses and Treasury yields spiked higher across the board after hotter-than-expected inflation data fueled bets on jumbo rate hikes by the Federal Reserve next week.

“The recent bounce in equities looked incredibly ill-judged and premature,” said James Athey, investment director at Abrdn. “That CPI number is very strong relative to consensus and will not be what the Fed wanted to see at all. The chance of the pace of hikes slowing after September has receded somewhat as a result of this data.

“Although today’s announcement shows that inflation remains historically high, there may be signs that the pressure of inflation is abating,” said Richard Flynn, managing director of Charles Schwab UK. “Company inventories are rising relative to sales, global economic growth has weakened, and the U.S. dollar is strong — all indications that price hikes may begin to slow soon. That being said, inflation is still far-above the Fed’s target.

 

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Business Maverick: Asian equities extend risk rally as dollar weakens: markets wrapShares in Asia climbed on Monday to build on gains made on Wall Street, while the euro advanced as investors weighed the prospect of Europe following the Federal Reserve with more outsized interest-rate hikes. I'm really grateful for all the efforts you have render to me with my little investment of R4000 and with joy over me after withdrawing R50,000 with your help Catherine_nico thank you for everything you have done for me and my family Catherine_nico
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