Overview of global markets - ANZ

Analysts at ANZ offered an overview of global markets.

Key Quotes:

"Despite solid US data overnight, EUR/USD continued to see-saw in a narrow 1.1300-1.1350 range and the yield on the US 10-year note hovered around 1.75% (unchanged). The solid US April CPI data reaffirmed analysis that the rise in core inflation (+2.1% y/y) is not transitory."

"Whilst interest rate markets continue to dismiss the need for rate rises, the data suggest otherwise and that seemed to overshadow equities. At the time of writing, the major US bourses were back 1-1.1% and Euro Stoxx finished down 0.5%. Weakness was fairly broad-based, but centred more on consumer businesses."

"Oil managed to extend its recent gains, with Brent up 0.9%, at $49.4/bbl, and WTI crude up 1.6%, at $48.5/bbl. Other commodity prices rose too, with broad-based strength across the CRB index. This supported commodity currencies."