We left behind a week in which the US inflation data came to the fore in global markets. Annual inflation in the USA was expected to be 8.7%, which was announced as 8.5%, below the expected rate. The CPI increase, on the other hand, was 5.9%, below the 6.1% expectation. Pointing out that the inflation in the USA may have reached its highest point with 9.1%, he gave the signal that the inflation in the USA started to decline. While the Fed was talking about a 100 basis point rate hike against inflation, the lower-than-expected inflation data supported the expectation that the Fed might be more moderate in interest rate hikes, which increased the risk appetite. Gold made another move above $1.800 an ounce; but could not hold on.
The CDS premiums of developing countries have recently been increased, as OPEC+ increased production and the US President Biden stepped in, and the recent decline in oil prices and the decline in New York FED inflation expectations, the FED's emphasis that it would not be too aggressive in interest rate hikes. led to a downward trend.