Stocks stabilised and indexes came up from yesterday’s lows, a | kamal

Stocks stabilised and indexes came up from yesterday’s lows, as markets digest the still fluid developments in Ukraine and the standoff between the West and Russia. Haven demand eased and yields backed up. President Biden announced sanctions on Russia, including financial restrictions. Earlier Germany halted Nord Stream 2. UK will stop Russia selling sovereign debt in London. The RBNZ lifted its policy rate by 25 bp to 1.00%, adding to signs that central banks are moving out of crisis mode and are set on policy normalisation. Governor Bowman opened the door for a 50 bp liftoff next month. Gold below $1900, Oil settled at $90.50. Treasury yields cheapened with the front end underperforming on worries over aggressive rate hikes to help contain inflation.FX markets - NZDUSD jumped to 0.6776, EURUSD at 1.1340, USDJPY steady at 115.00. Cable breaches 1.3600.

Biggest FX Mover @ (07:30 GMT) NZDJPY (+0.74%) Spiked to 78 highs earlier. MAs now aligned higher, MACD signal line & histogram significantly above 0 line.