- After the Kremlin stated that Russia is ready to begin negotiations with Ukraine tonight, US futures jumped along with European equities. Brent surpassed the $110 mark.
- After oscillating between losses and gains earlier, contracts on US indicators gained. European equities rose as oil and mining firms gained, while an Asian market index sank.
- Money markets pulled forward bets on a quarter-point European Central Bank rate rise to year-end from 2023, after data showed consumer prices rose to an all-time high in February, leading euro-area rivals down and reducing Tuesday's steep gains. Treasury rates rose marginally.
- The impact of Russia's invasion of Ukraine on commodities supply and economic growth is being closely monitored by investors. Ukraine has stated that it is willing to negotiate to Russia but not with ultimatums. Oil rose ahead of an OP+ conference, and a commodities index hit a new high for the first time since 2009. Gas benchmark futures in Europe also hit a new high.
- Ukraine and Russia will undertake a second round of talks on Wednesday, according to a Ukrainian presidential aide quoted by Tass.
- ECB's Nagel: German inflation might average 5% this year, significantly beyond prior projections.
- OPEC+ plans to maintain the existing plan of gradual oil output rises at Wednesday's meeting, despite the Ukraine crisis - 3 OPEC+ sources
- Eurozone Money Markets back to pricing in 20 BPS of ECB rate hikes by December, compared to less than 15 BPS in earlier trade.
