Trump faces a reckoning as the markets start to wobble
Donald Trump's recent summit with Xi Jinping did not yield any solutions for the ongoing closure of the Strait of Hormuz, which is impacting global oil supplies. As a result, bond yields have surged, tightening financial conditions worldwide. This situation is exacerbated by rising inflation and energy prices, leading to increased financial pressures on governments and households.
- ▪Global bond yields have surged due to hot inflation data and the closure of the Strait of Hormuz.
- ▪Trump's meeting with Xi Jinping failed to produce a concrete offer to help reopen the strait.
- ▪Oil prices have risen above $US110 a barrel as a result of these developments.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.