The markets were crushed, especially bonds, after a hotter than expected CPI. USD (USDIndex rallied to 96.00). US Yields sharply higher, spiked further, leaving 2-yr up 25 bps to 1.579% - biggest single daily move since June 2009 and the great financial crash. 10-yr was up 10 bps at 2.029%, closing with a 2% handle for the first time since July 2019. Equities were led by the USA100's -2.10% drop, while the USA500 was -1.81% lower, with the USA30 down -1.47%. Tech stocks have been hit by the prospect of accelerated Fed hikes and GER30 & UK100 are currently down -1.3% & -1.0%. USOil $88.00 following spike at 90.60. Gold down to $1820.90. Bitcoin settled to $43,000-44,000 area. FX markets - USD on bid as yields spiked and USDJPY jumped to 116.32.
Biggest FX Mover @ (07:30 GMT) AUDUSD (-0.58%) - Dipped to 0.7110 on USD strength. Fast MAs currently flat, as MACD signal line & histogram extend southwards, RSI at 36, indicating near term consolidation and overall pressure.
