Risk tones are faring calmer so far on the day but it remains to be seen if that can hold up amid the ongoing situation between Russia and Ukraine. One can't help but feel that there has to be another twist in the saga before all is said and done.
In any case, unless we see heavier sanctions come into play, there shouldn't be much for global markets to be too concerned about. Concerns surrounding funding stress are also easing as dollar OIS swaps are retreating but sentiment is sentiment, and we'll see where the headlines will take us in the coming days.
Oil continues to be a standout and I'm not complaining. I've constantly talked up the trifecta of factors underpinning the bullish undertone and I don't see that changing. But sentiment as ever is a fickle-minded player and one has to be wary about the Russia-Ukraine situation in case we do see a reason for a pullback.
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