Global equities rose on Monday, but the mood among investors was cautious, as surging commodity prices and government bond yields continued to fan fears of a damaging rise in inflation, just as the world economy is starting to recover from the impact of COVID-19. Futures on the S&P 500 and the Dow Jones fell between 0.7% and 1.0%, while those on the technology-heavy Nasdaq 100 dropped by nearly 1.5%, pointing to a weak start to trade later in the day. The benchmark indices have all hit record highs this month, thanks to the promise of more US government stimulus, as well as an acceleration in the pace of COVID-19 vaccinations. But these same factors have ignited a rally in commodities, sending the price of economically sensitive materials such as copper and nickel to multi-year highs, while the cost of lumber has hit all-time peaks. Government bond yields, particularly in the United States, are surging, as their price falls. The yield on the benchmark 10-year...read more...