- The belief that the Federal Reserve is finally succeeding in its battle against inflation has helped practically everything this week, from emerging markets to international bonds and the S&P 500.
- Although trade was sluggish on Friday due to the beginning of the second quarter reporting, investors are ending the week with huge profits across all asset classes.
- The largest increase since November has occurred in the last five days for the MSCI global stock index. Bond prices increased as well over the past week, with the US 2-Yr rate, which is most susceptible to changes in short-term policy, falling as much as 30 basis points.
- Additionally, the US earnings season began today with bankers JPMorgan and Wells Fargo exceeding market forecasts on key measures, with Citi still to follow.
- UK OBR's Hughes: We're seeing inflation pressure becoming more embedded in the economy - BBC Radio.
- BoJ is said likely to raise FY 2023 price forecast above 2%.
