U.S. stocks rebounded for a second consecutive week, with the S&P 500 up 1.8% and the Dow gaining 2% for the week. Foreign markets were also positive, with the FTSE All World Ex US up 0.4% for the week. The 10-year Treasury yield jumped to 2.49% from 2.15% the week prior. US crude ended the week at $113.90 per barrel up from $104.70 the week prior.
Chairman Powell indicated the Fed would raise interest rates in half percentage points steps if they concluded it was necessary to bring down inflation.
The US will increase shipments of liquified natural gas to Europe this year to phase out Europe’s reliance on Russian energy.
After suffering heavy losses in their attempt to take over Kiev, Russian forces refocused their mission in Ukraine to the country’s Easter territories.