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Bonds issued by commodity trading houses sold off sharply in recent weeks as debt markets weighed the effect of soaring prices on company balance sheets and exposure to Russian business

00:01 - 22/03/22

Put/Call ratio .78, lowest since early January

Even investors with the most conservative strategies find almost nowhere to hide in mass selloff

Investors bold enough to bet on a peace deal in Ukraine are already venturing selectively into one of the worst-performing corners of developing markets

After lagging behind the broader commodity rally to start the year, steel prices in the U.S. are soaring as Russia’s invasion of Ukraine threatens to choke off imports from key suppliers