Bassanese Bites: Oil concerns return – October 09 2023
Global markets
US equities managed to squeeze out small gains last week despite a further rise in bond yields, likely helped by a slump in oil prices and easing US wage inflation. Even the NASDAQ-100 bounced back 1.8%.
Whether this is merely consolidation remains to be seen, with Hamas attacks on Israel over the weekend likely to now lead to nervousness over the oil price and inflation outlook, given the risk of tighter restrictions on Iranian exports.
