The market has reached peak hawkishness: Strategist

Russia's Crude Oil Shipments to Crucial Asian Markets Falter

Flows to China and India are more than 15% below their highs of late May

A train travels along a railway bridge near the European Central Bank (ECB) headquarters in Frankfurt, Germany, on Monday, May 23, 2022. While ECB policy makers have increasingly coalesced around the prospect of a first hike at their July 21 meeting in recent weeks, they have barely mentioned the possibility of a more aggressive half-point move such as the US Federal Reserve delivered this month. Photographer: Alex Kraus/Bloomberg

ECB’s Nagel Warns Crisis-Tool Use Can Lead to ‘Dire Straits’

The European Central Bank should be cautious about deploying tools to contain the borrowing costs of weaker nations, Bundesbank President Joachim Nagel said.

Workers labor on reinforcing steel at a flyover construction site in Patna, Bihar, India, on Thursday, Feb. 25, 2021. After falling into a coronavirus-fueled recession in the third quarter, India's economy has likely returned to expansion in the three months ended December, according to the median estimate in a Bloomberg survey of economists.

India June Trade Gap Hits Record High On Rising Import Bill

India’s trade deficit widened the most on record last month as high global commodity prices further raised the import cost of goods such as oil and gold.

A worker arranges freshly baked bread for sale at the Al-Monira market in Cairo, Egypt, on Wednesday, June 1, 2022. Global food prices are soaring near the fastest pace ever as Russia’s invasion of Ukraine chokes crop supplies, with Egypt, the world’s biggest wheat buyer, now grappling with higher import bills as the conflict causes a run-up in grain and energy costs.

Egypt Seeks Wheat in Private Talks, Marking Shift From Tenders

Egypt’s state-run buyer is negotiating privately with traders to purchase wheat, making a rare shift from its usual tender process.

KAMPALA, UGANDA - JUNE 14: A baker makes bread, made from wheat flour, at a bakery on June 14, 2022 in Kampala, Uganda. This factory, one of the largest in the country, bakes around 300,000 loafs of bread a month and has had to raise prices in response to the wheat price increasing. The company also produces flour, which it currently sells at UGX168,000/50kg, up from UGX138,000 two weeks ago, and expects to raise prices again in a few weeks to UGX190,000. Around half of Uganda's wheat imports come from Russia and Ukraine, where production and export have been diminished by the ongoing war. (Photo by Luke Dray/Getty Images)

Uganda Convenes Special Interest Rate Meeting as Inflation Jumps

Uganda has become Africa’s first central bank to call an unscheduled rate meeting since Russia’s invasion of Ukraine further upended global supply chains and caused inflation to surge, prompting speculation that it may hike its key interest rate.

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