Bond yields rose on Monday after a surprise move by Saudi Arabia and its allies to cut oil production, further stoking fears on inflation.
What’s happeningWhat’s driving markets After seeing yields drop on a slower-than-forecast rise in core inflation on Friday, the newsflow reversed itself after announced production cuts of more than 1 million barrels per day of oil, starting in May.What’s happening What’s driving markets After seeing yields drop on a slower-than-forecast rise in core inflation on Friday, the newsflow reversed itself after announced production cuts of more than 1 million barrels per day of oil, starting in May.
“The softer core PCE metric fueled hopes that inflation is finally losing its kick, but the move from OPEC dealt a heavy blow to these expectations, signaling that the inflation battle has not been won yet,” said Marios Hadjikyriacos, senior investment analyst at XM. There’s also key data set for release on Monday as the Institute for Supply Management’s manufacturing index is due at 10 a.m. Eastern.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Saudi Arabia to invite Syria's Assad to Arab leaders summit, sources saySaudi Arabia is planning to invite Syrian President Bashar al-Assad to an Arab League summit that Riyadh is hosting in May, three sources familiar with the plans said, a move that would formally end Syria's regional isolation.
Baca lebih lajut »
Saudi Arabia, OPEC+ producers announce voluntary oil output cutsThe Saudi energy minister said it was a precautionary measure to support the stability of the oil market.
Baca lebih lajut »
Saudi Arabia to invite Syria's Assad to Arab leaders summit, ending regional isolationSaudi Arabia is planning to invite Syrian President Bashar al-Assad to an Arab League summit that Riyadh is hosting in May, three sources familiar with the plans said, a move that would formally end Syria's regional isolation.
Baca lebih lajut »
Egypt's Sisi heads to Saudi Arabia amid financial pressure, regional realignmentEgyptian President Abdel Fattah al-Sisi is travelling to Saudi Arabia on Sunday, according to three diplomatic sources, as Cairo continues to seek financial inflows to ease pressure on its currency and bolster a faltering economy.
Baca lebih lajut »