Financial Markets Daily Report22 March 2022
Financial markets started the week with a risk-off session, as traders digested another round of inconclusive peace talks between Russia and Ukraine as well as new hawkish signals from the Federal Reserve.
- Financial markets started the week with a risk-off session, as traders digested another round of inconclusive peace talks between Russia and Ukraine as well as new hawkish signals from the Federal Reserve.
- Sovereign bond yields rose notably across the board, a move exacerbated after comments from the Fed president Jerome Powell, noting that the US central bank is ready to raise policy rates more sharply if needed to curb inflation. The USD appreciated modestly while stock prices ended with modest declines.
- In commodity markets, the price of the Brent price rose markedly (above $115), as some European leaders debated a possible ban on Russian crude imports and following a disruption on some oil facilities in Saudi Arabia. By contrast, gas prices in Europe fell modestly.
- Today ECB head Christine Lagarde speaks at the BIS Summit. Several Fed officials are also due to deliver speeches.