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Price action yesterday points to growing optimism over Ukraine crisis resolution - Deutsche Bank

FXStreet (Łódź) - Jim Reid and Colin Tan from Deutsche Bank believe yesterday's price action suggests that the market is increasingly convinced that Ukraine and Russia are getting closer to striking a peace deal.

Key quotes

"European equities closed higher across the board and outperformed in what was another muted day for US equities."

"Russia’s MICEX (+3.5%) had its biggest day since March whilst Russia’s 5yr CDS also narrowed by 28bps to 238bp."

"In the US, the S&P 500 was almost unchanged on the day although an over 4% decline in Apple’s share price added some pressure on the NASDAQ (-0.56%)."

"Treasuries and Bunds were weaker on the day as some safe-haven flows were unwound but they did close off the day’s highs in yields."

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