Bond market rout deepens as investors fear ‘stagflationary shock’ from higher oil prices – business live
Rolling coverage of the latest economic and financial news, as rising oil price sours sentiment in the markets and drive up bond yields
Britain’s stock market has hit a six-week low at the start of trading in London.
The FTSE 100 index of blue-chip shares dropped to 10,151 points , a fall of 44 points of 0.4%.
“A combination of political turmoil and renewed gains for oil has been kryptonite for hopes of a new FTSE 100 rally.
Of course, the selling has not been confined to the UK, and continental indices are registering heavier losses as oil lurches higher once again. The market rally is rapidly coming to grips with the reality of the situation in the Middle East and in the global oil market, and it is not going to be pretty.” Continue reading...
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