GOOD MORNING! Treasury prices surged overnight and into the day’s opening in a flight to safety as Russia-US tensions escalated to new heights. Fear did ease and yields did drift up from their lows but the risk-off sentiment was still predominant and the Treasury yield curve ended the day lower and precious metals ended higher. In the stock arena greed eventually overcame fear and lifted the S&P and the NASDAQ with Walmart’s earnings beat and tech followers still jazzed up on today’s Nvidia’s earnings report.
The markets are feeling better this morning after a report surfaced that said Russian President Putin is willing to talk to President-elect Trump about a potential cease fire with Ukraine. US stock index futures are modestly in the green and Treasury yields are edging higher. There is little on the calendar today other than a few Fed speakers and the auction of 17-week T-bills.