Stock exchange, Prigozhin’s march on Moscow? Interest rate focused markets
The stock markets were not affected by Prigozhin’s march on Moscow. The priorities for the strategies of financial operators are the moves of central banks, especially the Fed and the ECB, to counter inflation. Many hope and bet on the end of the official interest rate increases by the latter.
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The resilience of the labor market and the increased savings rate in the US (approximately one trillion dollars) are however driving up demand and prices. Dynamics against which central banks can be incisive. For financial operators, the theater of war in Ukraine is always important, but secondary to the dynamics of interest rates on which many traders have oriented their strategies.
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