Scoreboard: Safer grounds

Global markets calmed as the UN reconfirmed its commitment to investigation before considering a Syrian strike.

It seems the market has recovered somewhat over the previous session’s Syrian concerns, although I only say somewhat, as crude is up a further 0.6 per cent ($109). It might be more accurate to say that concerns didn’t intensify. Crude was about the only hint that concerns are building though, as everywhere else price action looks to have decoupled a bit. So, for instance ‘safehaven’ flows into US treasuries unwound somewhat, the US 10-year yield rising about 6 bps to 2.77 per cent. Similarly, gold is down, although only smalls – a few bucks to $1417.



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