Global Markets Are Watching The Polar Cold!

While the polar cold continued in the southern regions of the USA, these colds also had an effect on the prices.

Global markets are watching the polar cold. As the polar cold descended to the southern states of the USA, millions of people were left homeless and the oil refineries became dysfunctional. One third of oil production in the country was suspended due to freezing temperatures. This situation keeps the West Texas crude oil asset contract price above $ 60 a barrel. Brent oil contract is also hovering above $ 63. Rising energy costs and the US financial incentive, which is expected to be announced in a short time, increased inflation expectations, while the US 10-year bond yield reached a top of the last year with 1.31 percent. The 30-year yield also increased by 8 basis points to 2.09 percent. On Tuesday, the S&P 500, which tested the highest level in its history during the session, pointed to an opening with a downward trend. The increase in returns on risk-free assets put pressure on the bullish stock markets. The MSCI index, which follows the Asia-Pacific stock markets except Japan, is just below the record level it reached on Tuesday.