- Stocks and US equity futures fell, while treasury yields increased, as a rise in energy costs underlined the global economy's inflation fears once again.
- Japanese and Chinese stocks, as well as the S&P 500 and Nasdaq 100, fell. Treasury yields fell on the possibility of quick Fed monetary tightening to relieve price pressures, dropping the 10-year yield to around 2.85%.
- In a cautious atmosphere, the dollar and gold both rose. After BoJ's Governor Kuroda indicated the currency's recent slide was extremely rapid, the yen stabilised.
- Natural gas and oil prices rose, owing in part to the threat posed by Russia's war in Ukraine. These include the likelihood of a de facto EU gas embargo and the danger of crude oil price controls in Europe's next sanctions package.
- China's economic news was mixed: Q1 GDP growth exceeded expectations, but retail sales fell more than predicted in March. The latter alluded to ongoing damage caused by covid lockdowns in recent weeks. In a cautious approach to policy easing, policymakers decreased the reserve requirement ratio on Friday but did not lower interest rates.
