Inflation Concerns Take Over Global Markets

Global markets began to be worried about inflation again. Risky assets in global markets declined as concerns about the inflation outlook reflected on pricing. China again brought the measures taken within the scope of epidemic to the agenda. This situation caused the risk appetite to be adversely affected.

Global markets are also closely monitoring the interest rate decision from the European Central Bank and the guidance in the text. Markets are recording statements that they do not expect any move in interest rates from the ECB.

Strong moves in oil prices fuel inflation concerns in the markets. After the stock data from the USA gave signs of tightening in the oil market, the strong course of oil prices continued. While US crude oil was traded at $122, Brent oil also moved to $124.

China Made Statements About the Outbreak Measures Again

The sanctions imposed by China within the scope of the coronavirus measures had shaken the economy considerably. Then, as these decisions were relaxed and deep breaths were taken, the new decision from Shanghai shook everyones confidence.

In the Minhang region of Shanghai, the economic center of China, which has a population of 2 million, new quarantine measures were taken to detect the risk of transmission of the epidemic.

According to the statements made by China's WeChat account, nucleic acid tests will be applied to the residents of the city on June 11, and after the tests are completed, the measures will begin to be gradually lifted.