Stocks set for a painful week as conflict intensifies; bonds to gain

LONDON : World markets were set for another tumultuous week after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine and as fighting intensified for a fourth day.

"Nobody likes uncertainty, investors certainly dislike uncertainty and we are looking at a pretty protracted conflict," said Peter Kinsella, global head of FX strategy at UBP. In response, the United States and its allies moved to block certain Russian banks' access to the SWIFT international payment system. The measures also include restrictions on the Russian central bank's international reserves and will be implemented in the coming days. [PnL8N2V117C]

Latest weekly positioning data indicates investors frantically trying to dial down risk in their portfolios.

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