For the week ending on 3/30/22, the Sentiment Survey continued to improve: Neutral became the top sentiment (40.6%; high) & bearish became the bottom sentiment (27.5%; below average); bullish remained the middle sentiment (31.9%; below average). After 5 weeks, the Russia-Ukraine war is at a stalemate on the ground, there is little progress in talks & Russia is redeploying its troops to focus in fewer areas including Donbas. The yield-curve has flattened considerably & has a small bulge in the middle; all this from very aggressive talk by the Fed. Stocks continued to move up while bonds were mixed (taxable flat, HY up, munis down). The US may announce a steady release of crude oil from its Strategic Petroleum Reserves (SPE) to limit oil price increases; the OPEC/OPEC+ is meeting today (Thursday) but is not expected to announce any major changes (Russia is part of the OPEC+).
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