Another misleadingly soft US employment report. Canadian employment now back to pre-Covid levels. Inflationary pressures intensify in the UK service sector. German industrial production plunges on supply constraints. Wages tick higher in Japan. The RBA is focused on financial risks.
Good week for equities, except in Japan. Global yields climb on inflation signals, monetary policy expectations. The Canadian Dollar strengthens on oil rally. Oil continues gains as OPEC+ decides not to increase supply.