Financial Markets Daily Report24 February 2022
In yesterday’s session, the spotlight remained at the Russia-Ukraine conflict after Ukraine declared the state of emergency. Early this morning, Russia attacked some targets across Ukraine after Vladimir Putin ordered strikes.
- In yesterday’s session, the spotlight remained at the Russia-Ukraine conflict after Ukraine declared the state of emergency. Early this morning, Russia attacked some targets across Ukraine after Vladimir Putin ordered strikes.
- In this context, stock indices declined, particularly so in the US as financial markets were open as the conflict escalated further. Yields on sovereign bonds edged up in both sides of the Atlantic. This morning, though, US Treasury yields are registering a significant decline (-10bp) and Asian equities are declining about 2%.
- In commodity markets, gas prices surged and this morning the price of the barrel of Brent reached $100, a level not seen since September 2014.
- On monetary policy, several ECB members offered some hawkish comments, pointing to rate hikes this year and an end of asset purchases sooner than previously expected.