All three US stock markets closed higher, with Nasdaq leading the gains of up to 1.31%, as Russia and Ukraine prepare to hold face-to-face peace talks. Delegations from the two countries will arrive in Turkey for a meeting that is expected to take place on Tuesday. Meanwhile, sell offs persisted in the bond market, with the 5-year (UST5Y) and 30-year (UST30Y) US Treasuries experiencing yield inversions. Yields of UST5Y and UST30Y touched 2.56% and 2.51% respectively.
JCI once again touched its highest level of 7,051, before finally closing at 7,049. Energy prices, which still overshadowed the inflation outlook, and the depreciation of the rupiah by 0.15% to the level of IDR 14,363/USD, influenced JCI’s movement earlier in the week. Today, NHKSI Research projects that JCI will move upward in the range of 7,000-7,100.
Download full report HERE.
