Trading above 104 per barrel. President obama warns russia the country could face costly sanctions over the conflict. Secretary of state john kerry travels to the ukrainan capital of kiev today. Members of the European Union call a meeting for thursday and russian president Vladimir Putin responds that he has the right to invade the ukraine. Lets get down to it with Glenn Schultz of performance trust. Hes watching the market for us today. Bring us up to date on the Market Reaction so far to the ukrainerussia situation. Right now the markets reaction has been relatively benign. We really havent seen a powerful quality trade coming into the markets yet although we have seen it somewhat. On monday evening the treasuries closed at about a 260 yieldand we did see risk assets soften somewhat. So we have seen a rotation from risk assets into the safe haven assets. I would expect today to see a continuation of the flight to quality trade but the market is really standing down in terms of a rea
Technical traders. The s p 500 closed last at 17 82. The next important line of support is 1775. If the market ends below that level, the market could continue a rough tumble. What worries the market is the 2 day Federal Reserve meeting getting underway toda and apples earnings outlook was weaker than predicted. Its an extra busy day for the bond market, Glenn Schultz of Performance Trust joins us now and will the bonds be stressing over the fed meeting that gets under way today . And then the president speaks tonight . In terms of the bond market and the quantitative using program of the Federal Reserves,my expectation is that the Federal Reserve will continue on their Quantitative Easing Program and theyre going to continue on the type tapering of that program. So we are likely going to see another 10 billion reduction in the large scale Assets Purchase Program which is gonna put the Federal Reserve on track to end the large scale Assets Purchase Program sometime in the Second Quarte