Market Thinking

making sense of the narrative

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One world two systems

Since the Global Financial Crisis, the west has slowly woken up to the fact that China does not intend to play entirely by their rules. It has adapted its centralised approach to allow for market prices to send signals about Read more…


Sell Mortimer! Sell!

Some extreme fun and games in the Oil markets overnight as CL1, the generic first contract for WTI crude went below zero, hitting minus $42 at one point as the May contract expired. By contrast, as the chart shows, the Read more…


Back to Black…rock, stone

As it stands, it looks like the markets may indeed have bottomed around the time of the March options expiry – as discussed in earlier posts. This, as we noted at the time, is not without precedent; the March futures Read more…


“Zoom,Zoom, Zoom…we’re going to the moon *”

* Traditional Nursery Rhyme “Here’s an idea, let’s think of a company that will do well in the world of social distancing”. “Right, got it, how about Zoom, the online conference app?” “Great, what are its sales?” “Good, they have Read more…


High and Dry

On the 4th September last year, the Baltic Dry Index that measures the cost of shipping – and by extension is a good proxy for the demand supply imbalance in global trade – stood at 2518. As of Friday, it Read more…


Happy Palindrome

Apropos of nothing….we are grateful to the Sunday Times today for pointing out that today’s date, 02/02/2020 is the best international date palidrome for almost a thousand years, in fact since 11/11/1111. We are of course not at all sure Read more…


As you were…

The traders got handed their script for the New Year nice and early, with the dramatic escalation by the US of the tensions with Iran. However, while the spike in Brent following the unrest in the Middle East did not Read more…


Making Money from Climate Change

Look at Linked In or any corporate website and everything is about Climate Change, sustainability and ESG. There is no longer even any debate about the science, it has, according to the politicians at least, been ‘settled’ even though of Read more…


Tesla Pickup should be called the Model Why?

OK, we have seen the new Tesla pickup truck and in my view it is awful. The secret of Tesla’s initial success (in my humble opinion) was that the Model S was a very good looking car, taking some of Read more…


Watch the Peg…to the SDR?

The elections in Hong Kong at the weekend produced a huge swing to the Pro-democracy parties. All eyes therefore will now be on the Hong Kong Legislative Elections next September. Currently only half of the 70 person council are voted Read more…