Bond markets are flashing warning signals once again, across Europe and the USA, reaching levels not seen since the GFC. The pressure is on, with the threat of inflation, arising from the energy crises and exasperated by the Western fiscal suicide. The G7 Finance Ministers met, with the 2-Day meeting was dominated by the Middle East and coping with the energy crises. Russian President Putin, begins a 2-Day Summit in China, closely following President Trump. Expectations are high. The US Dollar was supported by rising bond yields, with the EUR falling back to 1.1600, while the GBP tests the downside of 1.3400.The rising reserve hit commodity currencies once again, with the AUD tumbling to 0.7100, while the NZD slipped below 0.5850. Trump has delayed military action while his Middle East allies negotiate with Iran. Japan and South Korea also had high level meetings, where the current Middle East crises will be discussed, as will the recent Summits in China.
