Oil is back in charge of global markets. A renewed surge in crude prices has reignited inflation fears, pushed global bond yields higher and weighed heavily on equities, with Korean semiconductor stocks leading the selloff before weakness spread to Europe and the US. Even strong sales numbers from TSMC failed to lift sentiment, suggesting investors may now demand earnings that beat not only official expectations but also the whisper numbers.
Attention also turns to the latest US CPI report and Kevin Warsh's testimony before Congress, as markets increasingly price the risk of another Federal Reserve rate hike. Meanwhile, the stronger dollar continues to benefit from higher oil prices and rising rate expectations, while gold struggles to reclaim its safe-haven appeal in an environment of rising real yields.
Watch the full episode to find out more!
Intro1:22 Middle East tensions fuel oil prices, yields
3:52 Tech selloff deepens
6:08 US inflation & Kevin Warsh in focus
7:30 FX update









