- A selloff in bonds deepened Tuesday on Fed Chair Powell's warnings that the central bank will take more aggressive steps to curb inflation, while stocks rose alongside US equity futures.
- Banks and cyclical companies like automakers drove the Stoxx Europe 600 index higher. futures on the S and P 500 and Nasdaq 100 reversed to gains from losses. Treasury yields continued their ascent after Short-dated rates saw one of the largest daily rises in the past decade on Monday, while government yields continued to rise.
- Brent futures are now trading about $114 per barrel, down from $119 earlier. Germany and Hungary have slammed the brakes on a prospective European Union oil embargo on Russia, highlighting the bloc's divisions on how to punish Moscow for its invasion of Ukraine.
- The Fed and certain other key central banks have been under pressure to tighten monetary policy as a result of commodities market disruptions caused by the conflict. Powell stated that if necessary, the Fed will raise interest rates by 50 basis points at its next policy meeting.
- Italy's PM Draghi: Italy must offer military assistance to Ukraine in order to put an end to the massacres.
- EU leaders to agree to collaborate in jointly purchasing gas, liquefied natural gas, hydrogen - Draft summit statement
- Money Markets price in roughly 50 BPS worth of ECB rate hikes by year-end.
- Money markets anticipate 190 basis points of interest rate hikes in the United States by the end of 2022, with a 70% chance of a 50 basis point increase in May IRPR.
- Goldman Sachs forecasts The Federal Reserve of the United States will raise rates by 50 basis points at its meetings in May and June.
