On Monday, global markets returned to somewhat forgotten behavioral patterns: decline in the morning and growth starting with the opening of trading on U.S. platforms. Of course, we are still talking about a small daily fluctuation in index values, but this situation has been typical for almost half of the time that this current rally has lasted – since the beginning of 2012.
In terms of the news background, the only headline worthy of investors’ attention is information about the change in European banks’ asset structure, as revealed by the ECB. Thus, market participants’ view that the main buyers of Italian and Spanish bonds in recent years have been Italian and Spanish banks themselves has been confirmed, speaking to the success of LTRO operations.
As for the unrealized potential for a correction on global exchanges, which should inevitably affect the Ukrainian market, one news event that could affect such market dynamics would be the publication of the PMI business activity index on Thursday, March 1. Up to this point, it is rather likely that we will see a repeat of Monday’s trend (growth after a slight decline).
