DAX: Settling below first trend line support around yesterday has added to bearish momentum..Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Twenty-Two Turkish troops killed in Idlib in an air attack
Ankara says it’ll retaliate against ‘’illegitimate’’ Syrian government

The Financial Times calls it the deadliest day for Turkish soldiers in this country that’s been ravaged by civil war since 2011. It has also escalated the tension between Ankara and Moscow, which backs Bashar al-Assad’s regime. President Erdogan convened an emergency national security meeting yesterday, while the UN’s secretary general Jens Stoltenberg called for all parties to de-escalate.

Also in the Financial Times, based on data from EPFR Global, investors pulled a whopping $6.8 billion from junk bond funds in the week to Wednesday 26th February. This was the biggest outflow from high-yield ETFs in over a year, of which $4 billion was from BlackRock’s flagship HYG fund (of which $1.5 billion was withdrawn on Tuesday alone); State Street’s JNK suffered $1.2 billion in outflows. The spread between investment grade yields and junk has been widening out as stock markets slide – many currently off 10 per cent from their highs.

 

Financial Markets and Political Commentary

 

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