Treasuries fell for a fourth day, while oil and the dollar rose as stronger-than-forecast jobs growth fueled optimism in the American economy. U.S. stocks fluctuated as Russia said it may cut Ukraine’s gas supplies.
Emerging-market stocks dropped, erasing a weekly advance, as China’s first onshore default sparked concern that swelling bad debt will weigh on global growth. Vale SA led a slide in commodity shares as metals fell.
Russia said Ukraine’s natural gas debt climbed to almost $2 billion and signaled supplies may be cut, ratcheting up pressure on its neighbor as they scrap over the future of the Black Sea Crimea region.
Arseniy Yatsenyuk looked at home with Angela Merkel yesterday as she chaperoned him around an emergency European Union summit. Yet the new Ukraine premier’s chances of getting a permanent seat in the Brussels club are becoming more remote as Russia tightens its grip on his country.
In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.