Latest insights

US Treasuries reacted calmly to the inflation figure, as yields slipped slightly, and prices rose, for longer-dated bonds. Core eurozone yields also fell. 

President Biden gained bipartisan support for the first phase of his infrastructure bill, worth $1 trillion. The package will focus on traditional elements, such as roads and bridges, and could add as much as 1 percentage point to GDP growth.

Data has proved to be a very valuable commodity in the 21st century. And big data even more so. Characterised by the 3 Vs, that is volume, variety and velocity, a new service industry has built up around the collection, collation and analysis of big data. 

The G7 group of nations has agreed a deal for a global minimum tax rate of at least 15%. The new rules will see the largest and most profitable companies paying tax in the countries where they do business, not just where they are registered.

Federal Reserve comments about the possibility of raising interest rates and tapering monetary support caused volatility in the stock markets. 

US equity markets crept higher, boosted by strong macro data and led by the energy sector. European markets also advanced, although were held in check by inflationary fears. 

A synchronised recovery of the world’s major economies, boosted by huge rescue packages, has sucked demand for raw materials higher.

The minutes of the US Federal Reserve’s latest meeting showed some members proposed a plan for broaching the subject with the markets. And that could be as early as the end of this year. 

In Europe, the DAX 30, CAC 40 and Euro Stoxx 50 all hit record highs, as markets closed a fourth successive month of gains.