S&P Global announced Tuesday that it has suspended all services to Russian and Belarusian customers who are subject to sanctions.
S&P Global stated that it had suspended the provision of all its products and services to restricted clients in light of recent sanctions. This includes access to data feeds, applications, and support.
“We ask that all our distributors, resellers, and channel partners cease the delivery/provision of any S&P Global Market Intelligence services and products to Restricted Clients.
On March 9, the rating agency announced that it would suspend all commercial operations in Russia.
Wall Street took a deep breath Wednesday. Treasury yields and stocks fell after trading higher earlier in the week due to investors taking in the strength and optimism of the economy.
The March two-year U.S. Treasury yields have risen sharply and are on track for their largest monthly jump since 2004. Investors are generally optimistic about the impact of higher yields on stock markets valuations. Many choose to buy back in after a few difficult months.
Investors who were once bullish are now worried about the effect of rising interest rates on stocks.
“Despite widespread criticism, it is too early to assume that the Fed will not be able to negotiate the fine line between reducing inflation and delaying growth,” stated Mark Haefele Chief Investment Officer at UBS Global Wealth Management.
We prefer to allocate equity funds to overweight and underweight positions because of the higher degree of uncertainty.
Although there were some reversals on Wednesday, the bond market has been making the most notable moves in recent times. At 2.150%, the two-year U.S. Treasury Yield, which is usually in line with interest rate expectations, was down by 0.4 basis points (bps). The yield on 10-year Treasury Notes was down 2.4 bps, to 2.353%.