The fall in US producer price index (PPI) triggered a fresh round of buying on Wall Street and the S&P 500 has set a new three month high.
Stock markets have rebounded from the brutal losses that were witnessed yesterday as government bond yields have cooled a touch.
European equity markets are in the red as the European Central Bank issued its intention to hike rates by 0.25% next month.
Traders are nervous ahead of tomorrow’s European Central Bank meeting as there is chatter the bank will use the meeting as an opportunity to confirm that rates will be hiked in July.
Fears about highs levels of inflation and the prospect of further interest rate hikes are doing the rounds.
Last Friday’s well received US non-farm payrolls report is still influencing the markets as European and US stocks are showing strong gains.
The mood in the markets is a little downbeat as worries about a cost-of-living crisis are still doing the rounds.
Stock markets are in the red as yesterday’s bullish sentiment has been replaced by worries about rising inflation, and lofty oil prices.
Eurozone stock markets are powering ahead this afternoon thanks to the news the Beijing authorities are easing up on some of the Covid restrictions.
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