Brent: Inflation risks rise with Hormuz standoff – Deutsche Bank
Deutsche Bank strategists highlight that Brent Oil has broken above $85, closing near $88 as the Strait of Hormuz remains shut and rhetoric between the US and Iran escalates.
Deutsche Bank strategists have noted a rise in inflation risks due to the ongoing standoff in the Strait of Hormuz and the sharp increase in oil prices. Brent Oil has broken above $85, closing near $88, marking the first time this month. The 10-year Treasury yield has also risen, returning to above 50% ahead of tomorrow's CPI. This surge in oil prices and inflation concerns is causing markets to speculate on more aggressive rate hikes from the Federal Reserve and European Central Bank.
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