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Daily Alert: Surging commodity prices highlight reflation risks

  • Fears of rising inflation continue to give palpitations to markets, with the surge in commodity prices the recent trigger.
  • The major US equity indices were generally down overnight, with surging commodity prices stoking fears of a pick-up in inflation, margin compression and a derailment of global growth.
  • Locally, we expect data on Tuesday to show a solid increase in monthly total and retail card spending in April (ASB: +1.5-2% mom expected), with a school holiday boost and the reopening of the trans-Tasman travel bubble on April 19 expected to be supportive.

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