Tightening of financial conditions accelerates, recession fears grow as May CPI report becomes multi-day trading event

Tightening of financial conditions accelerates, recession fears grow as May CPI report becomes multi-day trading event

Financial markets convulsed on Monday as investors considered the prospects of U.S. inflation accelerating, not decelerating, after the release of May’s consumer-price index report. Signs of the sentiment shift since Friday’s data release were evident in the fast-paced tightening of financial conditions, plus an outlook for more aggressive Federal Reserve rate hikes. Gains in the …

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