Macro Briefing: 28 February 2022

* Russian and Ukrainian officials will meet for talks as war rages on
* Next 24 hours will be crucial for Ukraine, says country’s president
* The West adds more sanctions on Russia but largely exempts energy exports
* Putin puts nuclear forces on high alert
* Russian currency plunges amid expanding financial sanctions from the West
* JP Morgan advises that selling equities now faces whipsaw risk
* Geopolitical storm will test consumers’ appetite and ability to spend.
* US consumer spending posts robust gain in January as inflation picked up
* US real Treasury yields are rebounding but still deeply negative: