Weekly Market Update — April 23th

  • The Ukraine-Russia situation (that many people expected to be resolved soon and just isn’t),
  • The Covid situation in China (that people in the West have gotten over but still plagues some countries and impact supply chain all-around),
  • The unforeseen consequences of the US blocking Russia out of its payment rails and assets (which will lead to major logistic issues in terms of gas, oil, fertilizer, food stuff shipments, and also currency shifts as countries need to find alternative suppliers and payment solution). I’m thinking of Israel adding the Yuan (RMB) to its treasury as a shocking sign that governments are diversifying. Needless to talk about Russia and China, India, the Emirates, etc.
  • The impact of inflation and the need for central banks around the world -not just in the US- to raise rates despite countries already being in a difficult situation (resources, production, supply chains, national debt, consumer spending, etc.)

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