The credibility of central bankers took another knock last week, as surging costs in the energy sector not only increased estimates for peak inflation, but also prolonged the peaks themselves. It was always the case that the post-lockdown economic rebound would be accompanied by growing pains, but now the growth impetus is fading and the growing pains are taking centre stage.

Stocks featured:

Daimler, Facebook, Mercedes, Merck & Co, Sunac China Holdings and Tesla

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