Inflation, rising geopolitical risks spur bond sell-off

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Wall Street futures turned lower and bond yields climbed on Monday; New Zealand set to reveal rocketing inflation this week; China retail sales shows toll of lockdowns.

P 500 futures were down more than half a per cent on Monday AEST, with China's CSI 300 heading for a loss of 0.9 per cent and Japan's Nikkei 225 a loss of 1.8 per cent. Equity markets were closed in Australia, NZ, and Hong Kong.

Westpac forecasts NZ inflation to reach 7.1 per cent in the March quarter when official CPI data is released on Thursday, accelerating from 5.9 per cent in the December quarter. A Sri Lankan government delegation is due to visit Washington to ask the International Monetary Fund for billions of dollars in an emergency bailout.

An April 17, Ipsos France poll registered Macron as winning 55.5 per cent of the popular vote, with Le Pen at 44.5 per cent. A shock win for the latter is likely to spell more upheaval for European markets that expect a comfortable win for Macron.

 

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