Morning Bid: Russian turmoil tests safe-haven demand

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Morning Bid: Russian turmoil tests safe-haven demand
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Investors may be inclined to shelter in place given the broader 'risk off' sentiment in markets on Friday.

were already rock bottom so differences over the crisis in Russia will come as no surprise, but could serve as a reminder of the geopolitical risks that hang over global markets.

Investors may be inclined to hunker down for the time being given the broader 'risk off' sentiment that descended on markets on Friday. Stock markets around the world finally succumbed to a heavy bout of profit-taking, with worries over inflation - especially core price pressure - and 'higher for longer' interest rates triggering the biggest weekly selloff in many major indices since the U.S. banking shock in March., MSCI World Index, China's major indices and Japan's Nikkei 225 index all posted their biggest losses since March last week.

Having hit a series of fresh 33-year highs, the Nikkei last week broke a 10-week winning streak, its best run since 2012/2013. The MSCI Asia ex-Japan index, a broad measure of Asian stocks, slumped 4.2%, its worst week since September. The U.S. yield curve inversion is now within a few basis points of the multi-decade lows reached in March, and the

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