04.10. Global economic concerns: Rising inflation and continued Evergrande collapse

News for today, October 4th:

A host of U.S. economic data released on Friday showed an increase in consumer spending and manufacturing activity. However, due to high inflation, concerns persist that central banks will have to raise interest rates earlier than expected. Eurozone inflation also hit a 13-year high last month and looks set to get higher still.

China Evergrande will sell a half-stake in its property management unit to Hopson Development for more than $ 5 billion. The fact that the company's liabilities equal to 2% of China's GDP raises concerns that the collapse of the company could spread through the financial system and affect the global economy.

While speculation about an earlier tightening of the Fed's policy boosted the yield on US bonds last week, the yield has so far pulled back from last week's multi-month peaks. The dollar fell slightly on Monday morning but remained near the highs reached in the previous week. Markets in mainland China will be closed until Thursday for a national holiday, and South Korean markets were also closed on Monday.

The price of Brent crude is $ 78,87 per barrel, WTI — $ 75,52. EUR/USD is at 1.1605, GBP/USD —1.3556, gold is at $ 1,755.72 per ounce.