- From oil and gold to equities and currencies, global markets were relatively calm Monday in the aftermath of a geopolitical shock that called Putin's reign in Russia into question.
- Oil increased roughly 0.5% after falling nearly 4% the previous week, US and European equities futures ticked up, while Asian shares were mixed as mainland Chinese bourses opened after a long weekend amid concerns over the country's economic recovery. The dollar index fell 0.1%, while most major currencies traded in narrow ranges against the greenback. Gold increased marginally, but there was little evidence of aggressive buying for its safe-haven properties.
- While developments in Russia had the potential to prompt investors to sell risky assets, the early changes were small and reflected the impact of a deal struck to halt the Wagner mercenary group's advance towards Moscow. The accord calls for criminal mutiny charges against Yevgeny Prigozhin and his troops to be dropped.
- Futures for the S&P 500 climbed roughly 0.2%, regaining some of the ground lost during the worst week for US stocks since March. Concern in equities markets has grown that central banks may have to raise interest rates to combat inflation, putting the economy into reverse.
- Equities in Japan, South Korea, and Hong Kong were up, while those in mainland China, Australia, and New Zealand were lower.
