Daily Alert – Thursday 24th February 2022: Putin attacks Ukraine

Mark NugentDaily Alert, Feb 2022

Daily Alert – Thursday 24th February 2022: Putin attacks Ukraine

Good morning.

Overnight Russia launched air strikes against military targets in Ukraine. US President Biden warns that the US will impose “severe sanctions”. Global equities and bond yields fall, safe havens (GOLD, JPY) and WTI (oil) rise. As of 8am GMT we are seeing signs that prices are stabilising. Putin has said in an early morning televised speech that Russia will not occupy Ukraine.

Clearly it is a febrile time for markets.

I almost traded the S&P short last night, but I reminded myself that my fundamental view on equities is long and I need to stick to my position. I’ll catch the move on the way back up.

All eyes will be on the developing situation in Ukraine. However, it is worth noting we have US GDP at 130pm GMT today and the Fed’s chosen measure of inflation, Core PCE, tomorrow afternoon.

Have a good weekend when it comes, and we’ll be back on Monday.

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