Stocks, Bond Yields Puke; Oil Explodes Higher After NATO ‘Emergency Meeting’ Headlines

Global stocks and bond yields were already getting hammered but when AFP reported that NATO foreign ministers will hold emergency meeting over Ukraine on Friday, it sparked another leg lower…

NATO foreign ministers will hold emergency talks in Brussels on Friday over Russia’s invasion of Ukraine, the alliance said in a statement.

NATO allies have rushed to bolster their eastern flank after Russian President Vladimir Putin ordered the attack, but remain adamant that they will not get involved militarily in the war in non-NATO member Ukraine.

US Equities have erased yesterday’s late-day ramp-fest…

And Treasury yields are collapsing (10Y -18bps from inatrday highs)…

..to their lowest since the start of January…

As are most of Europe’s sovereign yields.

Gold is bid…

And all of this as oil explodes higher, with WTI topping $105…

This will not end well…