we ve been talking to here at cnn. craig erlam tells cnn this. quote, it feels like the situation can dramatically escalate at any moment, and that s going to keep investors on edge for now. we will be on the brink of something terrible happening and that is continuing to feed to the negativity in the markets. in addition to that, we heard from the head of fixed income research at west pac, and he tells cnn the following. quote, i do think it s as much a short squeeze as a flight to quality. today s move is clearly an escalation, which suggests that the current risk/rewards will favor lower long-end yields. the crisis has been driving up the price of gold as well as treasury bonds as investors scrambling to find any sort of safe haven out there. back to you, michael. all right. thanks so much. that will be all for us from ukraine for now. do stick around. i ll be back at the bottom of the hour.
s&p 500 down 2.17%. now according to the white house, they issued a statement on monday saying that u.s. president joe biden plans to impose sanctions those breakaway pro-moscow regions in eastern ukraine. that announcement has been pushing up the price of oil. there is just so much uncertainty out there, in regards to the fate and future of ukraine and beyond. and bottom line, this is not good news for the markets who have been reaching out to a number of strategists and analysts for comment and i want you to listen to this. or rather, look at this. a statement that we got from michael edward, he is a global strategist from rubble bank and he tells cnn this quote, the russia situation is also worryingly linked to concurrent dynamics in asia such as the news china is to shift to a single state-run portal to buy its iron other. the architecture is all crumb nling, he says. such changes are not positive for markets, unquote. then we have this from the head of fixed income research at w
Favorable factors such as relatively higher yields vs G7 government bonds and a defensive currency, have helped Chinese government bonds outperform in 2021.
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