Here's what investors say as crisis in Ukraine intensifies

As the conflict in Ukraine deepens and the fallout from increasingly tough sanctions on Russia reverberate through global markets, investors are rushing to keep up.

As the conflict in Ukraine deepens and the fallout from increasingly tough sanctions on Russia reverberate through global markets, investors are rushing to keep up. 

Safe havens like bonds, gold and the U.S. dollar rallied on Monday, while classic risk-sentiment proxies like the Australia dollar tumbled. Emerging market currencies also came under pressure, with the South African rand and the Turkish lira sinking. U.S. and European equity futures tanked. Crude oil surged.

Investors face soaring global commodity prices on top of already elevated inflation and slowing global growth after the pandemic recovery. They’re also trying to get a handle on how central banks may recalibrate monetary policy to meet the challenges.

Here is what a selection of strategists and investors have to say on the unfolding situation across asset classes.  

Saxo Capital Markets is keeping a defensive stance on equities and sees continued upside in energy, mining and commodity stocks. 

“It is probably not time to buy the dip, yet be selective and consider stocks and markets that could benefit from geopolitical tension worsening and commodities rallying,” Jessica Amir, a market strategist in Sydney, wrote in a note.