US equity futures slid on Monday following a surprise American inflation print that heaped pressure on the Federal Reserve to intensify monetary tightening.
Asian futures indicate declines loom for bourses in Japan and Hong Kong.
Yields on 30-year Treasuries are below those on five-year notes, pointing to fears that sharp Fed interest-rate hikes will spark a hard economic landing. “At some point financial conditions will tighten enough and/or growth will weaken enough such that the Fed can pause from hiking,” Goldman Sachs strategists including Zach Pandl wrote in a note.
The US consumer price index rose 8.6 per cent in May from a year earlier, a fresh 40-year high, in a broad-based advance, adding to a slate of troubling inflation data globally. Many investors expect half-point Fed rate hikes this week and again in July and September. Barclays and Jefferies said an even bigger 75-basis-point move is possible at the June meeting.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exported carnage: American gun slaughter not limited to the USOpinion: The calamities of US gun violence are not limited to American citizens. The Mexican Drug War, for example, has been fuelled by lenient US gun laws. A gun made in the US is more likely to murder a Mexican than an American citizen, writes Luis Go...
Read more »
China's 'dangerous' behaviour towards RAAF planes should 'worry us all', US Defence Secretary saysThe former US army general says there has been 'an alarming increase in the number of unsafe aerial intercepts and confrontations at sea by PLA aircraft and vessels'.
Read more »
Pro-choice militants are targeting ‘pregnancy crisis centers’ across USExperts say that no matter how righteous, extremist protests are risky: they may turn people against the cause
Read more »
‘Dinosaurs are not us’: book reveals how mammals came to rule the worldSteve Brusatte writes of the evolutionary twists, catastrophes and luck that led to the warm-blooded animals of today
Read more »
North Korea ramping up weapons development, US and South Korean officials warnNorth Korean leader Kim Jong Un is looking to accelerate his nation's nuclear weapons development in a show of strength against Washington and regional neighbours.
Read more »
US scraps COVID pre-departure testsThe United States will no longer require international travellers to provide proof of a negative COVID-19 test before boarding their flight to the country.
Read more »