Yahoo!News: Local shares weighed down by energy and materials

May 12, 2023

"Corpay currency strategist Peter Dragicevich warned that markets have become too optimistic regarding how far and fast inflation might slow from here.

"Barring an exogenous shock - which would also be quite a negative for risk markets and the Australian dollar - we don't think the market's current outlook for the US Federal Reserve is consistent with historical trends and US' underlying inflation dynamics," he said in a statement."