Reports that women, children, and elderly are being evacuated from the Donbas region, and more reports of shelling in that area are boosted bonds and are nudging stocks lower. Yields have fallen on the news, paced by the long end. Concurrently, equities have pared gains with the broader indexes unchanged or lower. The reports overshadow optimism seen yesterday as Blinkin and Lavrov scheduled talks for later next week. The advent of the long weekends in the US and Canada should keep a “better safe than sorry” bid in bonds. Attention will be on Fedspeak from key policymakers today for indications on their outlooks. On tap are Williams, Brainard, and Waller. The 10- and 30-year rates are about 3 bps richer at 1.93% and 2.264%, respectively, while the wi 2-year is down 1.5 bps at 1.495%, with the wi 5s and 7s over 2 bps lower at 1.825% and 1.925%, respectively.
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Stuart Cowell
Head Market Analyst
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