The IEA agreed to release 400m barrels from strategic oil reserves; small mercies whilst the Strait of Hormuz effectively remains closed; Brent crude trading near top of daily range. US CPI data in line, but US Treasury yields show steady grind higher

Kiwibank economists say the Reserve Bank may well have to tolerate higher inflation in the short term to avoid raising interest rates into a slowing global economy

Government receiving advice on potential fuel demand restraint, but would look at sourcing first

Risk sentiment improves considerably, with markets eyeing potential release of strategic oil reserves. US equities weaker, US treasury yields steadily fall overnight

A sudden spike in inflation expectations has investors' attention. Bond yields are rising fast to start the week, even benchmark bonds. The outlook for retail home loan rates is likely a bit grim

US employment shrinks unexpectedly; US retail sales dip; Canada PMI rises; Gulf oil supplies in crisis; metals rise; eyes on seabed mining; UST 10yr at 4.11%; gold rises while oil jumps again; NZ$1 = 59 USc; TWI-5 = 62.7

A review of things you need to know before you sign off on Monday; panic selling grips markets as they start to open around the world, wholesale money markets react, huge mortgage fraud in Australia, swaps jump, NZD falls, & more