The second week of conflict in the Ukraine was marked by additional market volatility. Equities are down across the board. The demand for safe-haven assets temporarily pushed the 10-year Treasury down to 1.7% before it retraced to 1.9% amid rising inflationary pressures. Meanwhile, gold has remained well supported, briefly moving above $2000/ounce.
Regarding the whole market, uncertainty remains very pronounced, with commodities facing particularly acute pressures. The joint US/UK embargo on Russian oil has pushed the price to $130/bbl high. European gas is up +200% YTD.
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