The major European indices are closing the day with mixed results:
Looking at the benchmark 10 year yields, yields are sharply higher with the exception of the Italian 10 year is down by about one basis point. The German 10 year is up 12.1 basis points while the UK 10 years up 14.7 basis points.
Novak wanted of a doubling of the oil price …
The major US stock indices are all closing sharply lower and at session lows. A failure once again with talks between Russia and Ukraine along with continued bombarding of civilians by Russian forces, has markets in a sour mood. Higher commodity prices from crude oil to nickel to wheat to gold are in the wake of the markets reaction today.
The meeting today between Russia and Ukraine resulted in the start of a humanitarian corridor outside of a number of select Ukrainian cities. That was supposed to be the case last week, but lasted only a number of hours before the bombing restarted on civilians.
