Wednesday 16th February 2022

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There’s a bit more positivity in the markets today, certainly since yesterday morning, because Russia hasn’t invaded Ukraine, and talks continue. But NAB’s Rodrigo Catril says there is still plenty to be cautious about. NATO can’t confirm Russian troops have moved from the border, as Putin had claimed, and the central issue of Ukraine’s right to NATO membership remains unresolved. Still, markets have taken it as good news, offsetting any inflation concerns that should have arisen from US PPI numbers yesterday. UK jobs numbers also showed wage pressures and today, loads more, inflation and producer prices for many parts of the world. We also get to see the RBA’s Debelle and Bullock in front of the senate tonight.