"It undeniably amplifies global geopolitical risks." Jittery marketsÄefence stocks such as BAE systems and France's Dassault Aviation were among the biggest negative weights on the European stock market. has revealed cracks and fragilities that now cannot be unseen," said Mizuho economist Vishnu Varathan. Two-year yields fell 5 basis points to 4.70%. US Treasuries were firm with yields, which fall when prices rise, edging down for a second day. Gold, which had hit a three-month low on Friday, rose 0.5% to $1,932 an ounce. "My guess would be that, when in doubt, you just follow the trend over the last few days and you will soon be facing this hawkish vibe from Europe and the central banks," he said. Pandor signals SA's likely move to adopting new global trading currency "The market is still in this kind of transition phase, but I think the stress that we've seen in equity markets started before the news we got on Friday and before the events over the weekend," said Frederik Ducrozet, head of macroeconomics research at Pictet Wealth Management. With little in the way of concrete cues for markets, investors stuck to their recent playbook of favouring fixed income and other safe havens over equities, particularly in light of Friday's slew of weak business activity surveys. The consequences for Russia's 16-month-old invasion of Ukraine were not clear, though the challenge to Putin's authority was the starkest in decades of his leadership. The armed mutiny over the weekend by the powerful Wagner group and its abrupt ending with no apparent penalties for the perpetrators or their leader was followed on Monday, 26 June, by official moves to return the country to normal. Russian mercenaries mounted a short-lived rebellion on Saturday, seizing the southern city of Rostov and advancing on Moscow demanding the removal of Russian military commanders in charge of the war in Ukraine.
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