Share markets were in a sober mood on Monday as fighting in Ukraine raged on with no sign of stopping, leaving investors clutching at hopes for an eventual peace deal, while oil prices climbed anew as supplies remained tight.
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Turkey's foreign minister did say on Sunday that Russia and Ukraine were nearing agreement on "critical" issues and he was hopeful for a ceasefire.
Investors were also anxiously waiting to see if Russia would meet more interest repayments this week. It must pay $615 million in coupons this month while on April 4, a $2 billion bond comes due.
Most share markets rallied last week in anticipation of an eventual peace deal on Ukraine, but it could take actual progress to justify further gains.
President Joe Biden will meet NATO allies on Thursday and visit Poland on Friday.
BofA's global fund manager survey had a bearish tinge with cash levels the highest since April 2020 and global growth expectations the lowest since the financial crisis of 2008.
