Markets largely shrug off Venezuela risks, safe haven flows rise slightly
Global markets are taking the latest surge in geopolitical risk largely in stride after the United States attacked Venezuela and detained President Nicolás Maduro over the weekend. A mild flight to safety is lifting the dollar, the Japanese yen, and Swiss franc against their risk-sensitive rivals, Treasury yields are down slightly, and both of the major crude benchmarks—Brent and West Texas Intermediate—are trading slightly lower. The Mexican peso is off around 0.7 percent after Donald Trump said the US will have to “do something” about drug shipments from the country. From a mechanical standpoint, the global macro backdrop looks essentially...