Macro Morning

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Wall Street was unable to make significant advances overnight although small caps lead the way, as European shares stumbled a little on the growing conflict in Ukraine with the risk complex absorbing the macro factors throughout.

Currency markets remained under the sway of King Dollar however, with Euro still depressed below the 1.07 handle while the Australian dollar held on to its post-RBA rate hike gains well above the mid 66 cent level and remains an undollar standout.

Meanwhile US Treasury yields were largely unchanged with the 10 year again around the 3.7% level while oil prices pulled back slightly, with Brent crude again finishing just above the $76USD per barrel level. Gold is trying to make its tiny post-Friday night bounce stick but continues to moderate at the $1960USD per ounce level.

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