Daily Alert – Tuesday 15th February 2022: Markets skittish as Scholz visits Putin
The Russia/Ukraine situation is dominating the trading landscape. Ukraine’s President Zelenskiy quipped that he thought Russia would invade on Wednesday. Later, he said he was being sarcastic and ironic. You cannot make this up. Markets bounced around a bit. German Chancellor Scholz is seeing Putin today. He is the last western leader to make the trip to Vald’s gaff, so I expect things to calm down after this trip.
The rate hiking rhetoric continues in the US as St Louis Fed President Bullard calls for a 100-basis point rate hike at the March meeting.
The Reserve Bank of Australia, having recently dropped their “no hikes until 2024” mantra, walked it back a bit by saying they were yet to be convinced inflation will be sustained and are prepared to be patient before hiking. So, the RBA joins the ECB in talking hikes and then backtracking…it’s not really “forward guidance” is it?
No trades for me yesterday. I am waiting for things to calm down and stabilise.
I’ll be back tomorrow.
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