An Indian government source said a proposal in a U.S. bill to impose new tariffs on purchases of Russian oil is not expected to complicate India‑U.S. trade talks.

US CPI surprised to the downside, briefly lifting the Nasdaq as rate-hike odds eased, but the move reflected cooling Fed expectations rather than an end to the energy shock. If oil stays elevated, higher gasoline, transport and production costs could push up forward inflation (secondary inflation risk) and may force the Fed and other central banks to keep rates higher for longer, applying material downward pressure on high-valuation assets via reduced forward discounting. On Monday the S&P 500 energy sector rose about 3.2%, signalling rapid fund flows back into high-cash-flow, defensive energy and value names.

Standard Chartered chief strategist Eric Robertson said we have entered an era of structurally higher interest rates. He said US rates are unlikely to return to zero and that rates in Europe and Japan have also risen. A key long-term implication will be tighter capital allocation—financing costs of 4–5% will force stricter project selection compared with a zero-rate environment. He added this does not imply capital scarcity: tens of trillions of dollars remain parked in US money-market funds and alternative asset managers hold large pools of capital.