Shock

• Moody's has identified India as one of the most resilient economies globally, demonstrating strong market stability through recent international financial disruptions without significant capital market access constraints. • The rating agency noted that India maintained limited and short-lived movements in sovereign credit spreads, contained currency depreciation, and stable bond yield volatility during episodes of global stress. • India's central bank and institutional framework successfully anchored investor confidence and smoothed currency volatility, setting it apart from weaker peer economies facing similar external pressures.

• Oil prices jumped above $100 per barrel and broke through $115 as Iran controls the Strait of Hormuz, with Brent crude rising 6% amid U.S. efforts to free up shipping lanes. • The S&P 500 fell with all 11 sectors declining except energy (+0.9%); Dow Jones dropped approximately 1%, while Asia ex-Japan surged 2.8% led by KOSPI's 5% gain to new highs. • U.S. Treasury yields climbed across the curve by 7-10 basis points, with the 30-year Treasury clearing 5.0% as inflation pressures mount and the USD index moved higher above 98.

Jitu Munda says he was repeatedly refused access to money left in her account in case highlighting ‘lack of humanity’ in Indian bureaucracyThe sight of a man bringing the remains of his dead sister to a bank in India after officials had refused to let him withdraw money without proof of her death has caused shock in India.Jitu Munda, 52, from the Indian state of Odisha, was captured on video carrying the remains of his recently deceased sister through the streets of Keonjhar and placing them outside the local bank. Continue reading...

Financial markets are betting the Reserve Bank will hike interest rates for a third straight meeting next Tuesday•Get our breaking news email, free app or daily news podcastInflation jumped to 4.6% in the year to March, from 3.7% the month before, in what experts say is the start of an Iran war-linked fuel shock that will ripple through the economy over coming months.Financial markets are betting the Reserve Bank will hike interest rates for a third straight meeting next Tuesday, as officials struggle to manage the “nightmare scenario” of containing inflation even as growth is expected to slow sharply. Continue reading...

The Politburo, a top decision-making body of the ruling Communist Party, was cited as saying by state news agency Xinhua that the economy got off to a better-than-expected start this year.

China sold goods worth about $148bn to EU in first quarter of year, but imported just $65bnThe EU is experiencing a prolonged “China shock” as a flood of Chinese EVs into Europe helped push Beijing to a record surplus with the bloc.New data showed China’s trade surplus – where its exports to the EU exceeded imports from the bloc – was $83bn (£61bn) in the first three months of 2026. Continue reading...

Questions raised about political violence, security and gun control after brazen attack at event attended by top officialsWhite House press dinner shooting aftermath – latest updatesA stunned Washington faced searching questions about political violence and gun control on Sunday after shots were fired at a prestigious media gala attended by Donald Trump and senior White House officials.A man targeted a Secret Service agent at a security checkpoint in the Washington Hilton hotel the previous night before being tackled and arrested. Trump and Melania Trump were rushed out of the annual White House Correspondents’ Association (WHCA) dinner as guests dived for cover under tables. Continue reading...