Welcome to the weekend. Financial Review Markets editor Vesna Poljak isn’t prone to hyperbole. So hearing the astonished excitement in her voice as she described dramatic bond market moves to our news conferences this week really brought home that something big was happening. This weekend we’re looking at just what that is as the global inflation story started to get very real for Australia.

In other big news, former NSW premier Gladys Berejiklian faced a gruelling examination in the ICAC witness box that leaves her reputation, at least, in real trouble. In Perth James Packer told an inquiry he’d probably have to sell down his stake in Crown, but quibbled about the timeline; and as borders are finally about to reopen, travel editor Fiona Carruthers has written a Q&A covering fares, insurance, the reality of COVID tests in every port and other things you’ll need to know before you book or fly.