Weekly Markets Monitor - Sticky wickets
15 June, 2026
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Highlights
- The past week was marked by optimism over a potential US-Iran agreement and a historic mega IPO. On the macro front, headline inflation accelerated across major economies. China’s exports in May exceeded expectations, growth in Japan and the UK slowed, and the ECB raised interest rates for the first time in three years.
- Major global equity market rose, benchmark treasury yields declined, while the US dollar and oil prices eased.
- Last week, US CPI rose above 4% for the first time since 2023. But the announcement of a draft US-Iran agreement prompted a sharp fall in crude oil prices, breakeven inflation rates and Fed hike expectations. While encouraging, uncertainties remain and a normalization of global oil markets may not be immediate. The potential lagged effects of the three-month disruption underscore that inflation risks remain elevated and that the path to policy easing may be longer than markets currently anticipate (C.O.T.W).
Chart of the week: Sticky wickets
*The RBA has a 2-3% range target. All inflation rates based on the series the central banks target for setting policy.
Source: Bloomberg, World Gold Council
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