Traders go phew on Syria but won't declare mission accomplished

The US-led military strikes in Syria on Friday may have been met with a collective sigh of relief in global markets, but investors are hardly letting their guard down as US-Russia tensions simmer.

Although haven assets such as gold and US Treasuries aren’t rising stocks in Asia relinquished earlier gains. Russian markets themselves also retreated, with bonds, the ruble and stocks declining after the US said it will impose fresh sanctions on Moscow following Syria’s reported use of chemical weapons.
 

 “Investors don’t expect any significant escalation of military activity between the West and Syria’s government and its main backers, Russia