Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. And while money initially moved into stocks in the morning, capital moved out of safe-haven assets. The price of the 10-year Treasury note fell Friday, sending its yield up to 2% from a March closing low of 1.73%. "We as Ukrainians believe that the truth is on our side, whether it's truth that you're proclaiming about the war and everything else, why would you want to hide it?," he said. "The inflation fire was already hot and now with war-driven inflation added to the mix, it will grow even hotter, setting off a scramble by the world’s central banks to pull back their stimulus earlier than expected," Chris Rupkey, chief economist at FWDBONDS, wrote in an email. "A spike in inflation rates has preceded economic recessions historically and this time prices have soared to levels that once again pose a threat to growth." "He has kind of an old-school cyber-libertarian world view where technology is there to set you free," Maréchal said.
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