Market Update – Reacting to higher Yields on Geopolitical Risk, but 6% Inflation on Deck?

Oil prices are higher amid latest conflict escalation between the U.S. and Iran, pushing yields higher and weighing on stocks. Some of the more interesting work I’ve been doing today is looking at the S&P Global and ISM Services PMIs.  It looks very likely that CPI (consumer inflation) hits 6% over the next few months….