Fed’s Likely Pace Haunts Markets; Sanctions Feared Worsening The Inflation

Hawkish comments from senior Fed officials on the interest rate lift off as well as the shrinking of the Fed’s Balance Sheet unnerved investors impacting valuations across asset classes. Anxiety surrounding the much-awaited announcements on fresh sanctions on Russia also played spoilsport.

Here is a snapshot across asset classes…..

Asian stocks finished with losses. European indices plunged. American stock futures are reflecting the panic in investor sentiment. The Dollar Index eased after touching a fresh 52-week high. Bond yields surged as comments from Fed officials implied fast actions by the Fed. Crude prices continued to increase as likely fresh sanctions on Russia reignited supply concerns. Gold edged down. Cryptocurrencies retreated.

Stock Indexes:

DJIA (US30) at 34,501.50, down 0.40%
S&P 500 (US500) at 4,503.40 down 0.48%
Germany’s DAX at 14,224.98, down 1.38%
U.K.’s FTSE 100 at 7,571.17, down 0.56%
France’s CAC 40 at 6,562.09, down 1.26%
Euro Stoxx 50 at 3,855.85, down 1.58%
Japan’s Nikkei 225 at 27,350.30, down 1.58%
Australia’s S&P ASX 200 at 7,490.10, down 0.50%
China’s Shanghai Composite at 3,283.43, up 0.02%
Hong Kong’s Hang Seng at 22,080.52, down 1.87%

Currencies:

EURUSD at 1.0917, up 0.13%
GBPUSD at 1.3099 up 0.24%
USDJPY at 123.75, up 0.13%
AUDUSD at 0.7584, up 0.07%
USDCAD at 1.2495, up 0.08%
Dollar Index at 99.43, down 0.04%

Ten-Year Govt Bond Yields:

U.S. at 2.620%, up 2.58%
Germany at 0.6525%, up 6.44%
France at 1.194%, up 3.74%
U.K. at 1.7130%, up 3.57%
Japan at 0.235%, up 9.03%

Commodities:

Crude Oil WTI Futures (May) at $103.28, up 1.29%
Brent Oil Futures (June) at $107.97, up 1.25%
Gold Futures (Jun) at $1,924.70, down 0.15%

Cryptocurrencies:

Bitcoin at $45,288.73, down 2.84%
Ethereum at $3,348.28, down 4.87%
BNB at $441.25, down 2.78%
Terra at $116.15, up 0.36%
Solana at $125.12, down 5.75%

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