SPX7,580.06+0.22%DJIA51,032+0.72%COMP26,973+0.20%RUT2,919.34-0.59%CL$87.76-1.28%GC$4,569.90+1.57%DX98.94-0.08%VIX15.32-2.67%Fed Funds4.50%HOLD10Y4.287%-0.031CPI Y/Y2.8%-0.1%Core PCE2.7%-0.1%Unemp4.2%0.0NFP+150kMayGDP Q/Q+2.6%Q1Retail+0.4%M/MSPX7,580.06+0.22%DJIA51,032+0.72%COMP26,973+0.20%RUT2,919.34-0.59%CL$87.76-1.28%GC$4,569.90+1.57%DX98.94-0.08%VIX15.32-2.67%Fed Funds4.50%HOLD10Y4.287%-0.031CPI Y/Y2.8%-0.1%Core PCE2.7%-0.1%Unemp4.2%0.0NFP+150kMayGDP Q/Q+2.6%Q1Retail+0.4%M/M

Energy Shock Reality Check: Markets Brace for Another Inflation Wave

ByON1010 Research Posted onApril 6, 2026 at 6:00 AM EDT Reading Time: 3 minutes

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THE OPENING BELL

The market is waking up to an uncomfortable truth: the Fed’s inflation victory lap was premature. With WTI crude holding above $110 and the Strait of Hormuz still sealed shut, bond markets are pricing in a reality that equity investors haven’t fully absorbed yet. Today’s setup feels like early 2022 all over again — except this time, the Fed has even less room to maneuver.

MARKET SNAPSHOT

Fed Funds Target Range: 3.5%-3.75%

10-Year Treasury: 4.31%

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