The Russia and Ukraine crisis continues to be at the forefront of the news as well as the stock and bond market. Both are lower to start the week based on the news that the US and allies are considering a ban on Russian oil. This has sent oil prices as high as $130 a barrel, which is a 13-year high! This will obviously add to inflation and reduce consumer spending into the economy. 

In other parts of the world, Canada announced a few weeks ago, they would be freezing the assets of those supporting the ‘Freedom Convoy’ (see more in the article included in this newsletter), which is protesting vaccine mandates. Now, whether you support their efforts or not, this affects things like the gold market, which has topped 2,000. It also makes cryptocurrencies interesting because you bank yourself and cannot have your assets frozen. 

Coming up this week is another Consumer Price Index Report. They are expecting inflation to rise from that 7.5% we saw on last report to somewhere close to 8%. That will negatively affect the bond market so we will keep an eye on that as the week progresses. 

*Mortgage Bonds are slightly down to start the day, but are up 15.49bps as of 9:30am this morning. As we have mentioned, though, the market is ever changing as the conflict overseas continues on. Let me know if you have any questions or want an update as the week moves along.