- Global stocks fall, Moscow stock exchange to stay shut for third day, as Russia bombards Ukrainian cities
- Ukraine live updates
More on Sberbank’s European arm, which has been closed by order of the European Central bank, after a run on deposits.
The central banks of Slovenia and Croatia announced that Sberbank’s operations in their countries would be taken over by Slovenia’s biggest banking group NLB and the Croatian Postal Bank, which is majority owned by the government.
Given the war raging on the outskirts of western Europe, it is some surprise how little markets have responded in total, with negative days punctuated by dip-buying in some markets. This is especially true of the equity market, where 1.5% falls yesterday in the Nasdaq and S&P 500 leave both bourses some way above their lows for the year and with equity futures suggesting a more positive outlook.
It’s a different story in bond space. European bond yields were down sharply yesterday. two-year German bond yields fell more than 20bp and 10-year bund yields were down 21bp to -0.08%. US Treasury yields also fell heavily.
