United States: Forget 50 bps. The market is no longer sure about a 25 bps rate hike this month.
Concerns about the consequences of Russia’s invasion keep markets on edge. Russia’s attack on the nuclear power plant sent Treasury yields sharply lower.
Eurozone: Market-based inflation expectations are soaring.
Emerging Markets: Ukrainian bonds and the hryvnia have plummeted since the invasion.
Equities: Cyclicals continue to tank relative to defensive sectors.
Credit: Helped by energy names, high-yield debt continues to outperform investment-grade bonds.
Food for Thought: GDP per capita vs. life expectancy:
Edited by Daniel Moskovits
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