Global signal: Little interruption from Russia-Ukraine newsflow

The global factor is looking better. A little new information to be interpreted by the market as far as Russia-Ukraine war is concerned.

Lots of hawkish Fedspeak – pretty much all of the Fed members now seem to be aligned to the fact that number one job is inflation targeting and the number one tool they have is increasing rates. In the month of May, the Fed meeting – 50 basis points (bps) at least as of now looks like pretty much a done thing.

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1.5 percent on the S&P500, NASDAQ a little better about 2 percent, nominal yields, US 5-year, 10-year, 30-year were up a lot more – pared gains but still ended higher. So 30-year is now at 2.54 percent, the 10-year is at about 2.37 percent and the 5-year is at about 2.4 percent.

Also Read: Oil drops as supply crunch fears ease, trading costs rise

Real yields went up higher into close. Oil prices are down but not very much. The expectation is that there is more upside than downside.