For the week ending on 3/23/22, there was a significant improvement in the Survey but bearish remained the top sentiment (35.4%; above average) & neutral became the bottom sentiment (31.7%; average); bullish became the middle sentiment (32.8; below average). With all sentiments in 30s, ordering flip-flops are expected. Russia-Ukraine WAR has entered the 4th week & it has reached a stalemate stage on the ground & in negotiations but dislocations, injuries, deaths & property/facility destructions continue. There are hastily arranged extraordinary meetings of the NATO, G-7 & EU on Thursday (today). The developments may negatively affect the status of DOLLAR as the global reserve currency, & some currencies- & commodities- weighted basket may evolve in the near future. The FED has been talking VERY aggressively & that has significantly increased the rate hike expectations but the Fed may not follow through (that may be a new strategy). The stock market action was positive during the Survey week (Thursday - Wednesday).
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