European markets fall after the announcement of the new Russian nuclear doctrine

The yield on the 10-year US Treasury bond fell 5 basis points (bps), while its price rose to 4.3648%, near its lowest level in three weeks.

German 10-year bond yields fell 7 basis points. – up to 2.303%.

Safe assets rose amid rising tensions.

• The Japanese yen rose 0.6%; Its exchange rate against the dollar was 153.69.
• The Swiss franc rose 0.4% against the euro.
• The dollar index rose 0.25% to 106.40.
• The price of gold rose 0.8% to $2,634 an ounce.
• Natural gas futures rose 1.1%.

Michael Weidner, co-head of international fixed income at Lazard Asset Management, believes the market revival is due to changes in Russian nuclear doctrine.

European markets are experiencing a significant decline.

• The STOXX 600 index fell 1%, while the volatility indicator for European stocks jumped more than 3 points.
• US futures also fell. Its value in the S&P 500 decreased by 0.5%.
• The euro exchange rate fell by 0.3%.
• Poland’s main stock index fell almost 3%.

The research director of the AFS group, Arne Petimezas, believes that these are “clear steps” to reduce the risk of the new Russian nuclear doctrine.

On the topic: The Central Bank raised the dollar exchange rate to 99.9971 rubles

Yield on deposits of legal entities increased to the highest level since 2014

At the same time, the head of sales at Saxo Banque France, Andrea Tueni, believes that the market reaction is “moderate”, as many are waiting, Bloomberg reports.

• On November 17, US President Joe Biden authorized the use of ATACMS missiles by the Ukrainian military to attack Russian territory.
• On November 19, Putin signed a decree approving the foundations of Russian state policy in the field of nuclear deterrence. The document notes that the main military dangers, to neutralize which nuclear deterrence is carried out, include “the presence and deployment by a potential enemy of missile defense systems and means, cruise and ballistic missiles of medium and short range, high precision and without missiles. nuclear and hypersonic weapons, attacking unmanned vehicles in various bases”, etc.