1) US closes embassy in Kyiv, Russian foreign minister pledges for diplomatic approaches
The U.S. ordered the U.S. Embassy in Kyiv, Ukraine, to be closed and directed embassy staff to move to the western part of the country, saying that there is a dramatic acceleration in the buildup of Russian armies.
Meanwhile, the Russian Foreign Minister is reportedly pleading with President Vladimir Putin to take a diplomatic offer.
2) JPMorgan expects Russia-Ukraine situation to have limited impact on equity markets
JPMorgan said that the risk of conflict between Russia and Ukraine is high, but it should have limited impact on global equity markets. In the meantime, the situation would likely prompt a dovish reassessment by Central Banks.
The financial banker added that it favors value, cyclical and higher-beta market segments given their still cheap valuations and light positioning Moreover, they are beneficiaries of rising bond yields and higher commodity prices.
3) China’s central bank injects 300 billion yuan through mid-term loans
The People’s Bank of China (PBOC) injected funds through medium-term loans into the financial system on Tuesday, while keeping the interest rate unchanged. The central bank kept the rate on 300 billion yuan worth of one-year medium-term lending facility loans unchanged at 2.85%.
4) Oil prices slowed down on profit taking
Oil prices traded lower on Tuesday as analysts see a profit taking from investors after hitting 7-year high earlier amid rising tension between Russia and Ukraine that the U.S. said the attack could be any day.
Brent crude dropped 0.41% to $96.08 per barrel, while West Texas Intermediate fell 0.46% to $95.02 a barrel.
