Stagflation Risks Are Again Clouding a Global Market Rebound (1)

Fresh signs that major economies are slowing even as prices shoot higher cast a shadow over a nascent risk rally in global markets, just hours into the start of the new trading week.

Equities reversed course and came off highs after Chinese economic data released Monday showed a sharp contraction as Covid lockdowns stung. Wheat jumped after India restricted exports, adding to broader commodity price pressure.

In Japan, producer prices advanced at a double-digit pace for the first time in more than four decades. South Korean bonds fell after the central bank’s governor said a big interest rate-hike couldn’t be ...