European and US markets were largely down overnight. It was all...

European and US markets were largely down overnight. It was all about inflation.

The FTSE fell 46 points (.55%), the DAX fell 46 points (.25%) and the CAC fell 549 points (.61%).

UK inflation data showed inflation was hotter than expected in April at 2.3% (expectations were for 2.1%. Core inflation was 3.9% and services inflation at 5.9%.

UK election is expected to be called today - July date.

In the US, the DOW fell 201 points (.51%), the NBI was the odd on out and rose 40 points (.90%), the NASDAQ Composite fell 31 points (.18%) and the Russell small cap index fell 16 points (.79%).

Markets in the US fell after the release of the US Fed meeting minutes - several US Fed officials stated they were willing to raise interest rates because of the stick inflation data.

Lots of talking about raising interest rates in Europe and the US (and even here in Australia) over the last three months. Lots of talk maybe to soften markets for such a reality so interest rate rises are not out of the equation.




US government has released 50 mil barrels of oil from reserves in an attempt to lower petrol prices in the US.

US Treasury 10 year bond yield sits at 4.43%.

Oil prices went down - Brent crude at UD$81.70 per barrel.

Gold price went down to US$2,378 per oz.

BITCOIN is at $69.480.