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Caution Aplenty To Start The Week

CROSS ASSET

Risk-off is the prevailing theme early this week, with focus on the continued U.S. assertions re: the likelihood of a Russian invasion of Ukraine in the coming days. BBG source reports noting that “the U.S. has told allies that any Russian invasion of Ukraine would potentially see it target multiple cities beyond the capital Kyiv” have seemingly added further fuel to the proverbial fire. Tsy futures have been bid from the re-open and e-minis trade 0.2-1.0% worse off vs. settlement (with the NASDAQ 100 leading the way lower). FX trade sees the JPY atop the G10 FX leader board, while the antipodeans find themselves at the other end of that particular table.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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