Selling pressure continues on commodities

Selling pressure continues on commodities

Business

By: Anadolu Agency

Selling pressure on commodity markets is continuing amid concerns over global economic activity.

Uncertainties over the US Fed's monetary policy and global recession expectations are having a severe impact on investors' risk appetite.

Analysts said while economic activity declined in the US, inflation risks are still alive; this situation risks a recession risks if the Fed takes new steps against price increases.

Markets see an 84% chance the Fed will raise interest rate by 25 basis points this week while forecasting it will keep rates constant in June.

With these developments, a sales-weighted course was seen in bond markets; the 10-year US bond yield ended last week at 3.42%, falling around 15 basis points.

Analysts said rising geopolitical tension between China and Taiwan and uncertainties related to the Chinese economy have also dampened risk appetite.

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