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Investors are increasingly concerned about inflation and the economy

President of the European Central Bank Legarde

Frankfurt Central banks have a tighter grip than ever on capital markets: the European Central Bank (ECB) has caused significant losses in stocks and bonds since Thursday. ECB President Christine Lagarde previously announced the first interest rate hike in eleven years amid persistently high inflation and promised another for September.

Then, on Friday, a surprisingly significant rise in US price levels fueled fears that a further tightening of US monetary policy could bring the economy to a halt. Market strategists therefore also expect turbulent equity markets in the new week.

“Equity markets are crying over concerns about inflation as well as supply chain problems and waning economic confidence,” sums up Ulrich Kater, chief economist at savings bank securities subsidiary Dekabank.

In bond markets, a sharp jump in inflation expectations would have depressed prices and “dramatically boosted” yields.

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