Breakfast Briefing | 14 May 2026 | Commodity Prices Surge

This morning's briefing is dominated by broadening price pressures, with commodity markets sending a clear signal that supply-side stress is intensifying.Copper, sulfur, and aluminium have jumped to new highs, driven by tightening supply from the Middle East conflict. US producer prices rose 6% in the year to April, the sharpest move outside the pandemic period, and US crude stocks fell sharply for the second consecutive week, keeping oil above US$101.50 a barrel.In the US, Kevin Warsh has been confirmed as the new Federal Reserve Chairman. With inflation running this hot, the prospect of near-term rate cuts is remote. US 30-year Treasury yields have now crossed 5% for the first time since 2007.Closer to home, Australia's 10-year bond yield sits at 5.07% and the Australian dollar has firmed to 72.6 US cents. The federal budget's moves to wind back tax concessions on wealth and property are drawing strong criticism from investors, though changes will be phased in over many years.The through-line this morning: price pressures are broadening, and rate relief remains out of reach.Full briefing and today's home loan and term deposit rates at interest.com.au.https://www.interest.com.au/economy/659/trump-beijing-us-ppi-leaps-us-crude-stocks-fall-sharply-again-warsh-now-fed-chairman#BreakfastBriefing #AustralianEconomy #InterestRates #Commodities #OilPrices #USInflation #BondYields #FederalReserve #FinancialNews #interestcomau