Bassanese Bites: Yes Ukraine – February 28 2022

Global Markets

Last week was clearly volatile for global markets, with the attack on Ukraine initially causing a risk-off move, followed by a risk-on recovery on relief that Russian sanctions did not extend to oil and gas exports and all the mayhem at least seemingly reduced the risk of a 0.5% Fed rate hike next month. The S&P 500 actually ended the week up 0.8%, though the S&P/ASX 200 was down 3% as it was yet to reflect the strong Friday bounce on Wall Street.  Bond yields, gold and the $US had only small net moves over the week.….

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