Scoreboard: Pain in Ukraine

Instability in Ukraine added uncertainty, but Wall Street managed to push higher on light volumes.

Markets were comparatively quiet overnight, with Europe still closed and little in the way of economic data to inspire. I suspect that investors are waiting for earnings results this week in the US and watching the increasingly erratic events in the Ukraine closely. The major powers on all sides have shown little genuine willingness to resolve things here and so the crisis goes on -- and the country descends further into chaos. Putin has suggested that Russian troops may enter Eastern Ukraine if things deteriorate further. Europe and the US for their part could have ended it much sooner with a little realism and pragmatic policy making rather than all the cold war bravado. So far markets aren’t too fussed though.

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