Risk sentiment seems to be recovering this morning with all but Japanese equities higher in Asia. Euro is marginally higher against the dollar and weaker versus the Nordic currencies. Brent oil is range-trading at the 74-75 level. The dramatic events in Russia over the weekend have not led to big market moves, at least not yet. Rates markets currently price in one more hike for the Fed by November and 47bp worth of hikes by the ECB by December.
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