Market Thinking

making sense of the narrative

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Tag: Russia

An Energy Reset

The realisation is slowly dawning on Europeans that not only have Zero Carbon policies pushed Europe to a dangerous dependency on unreliable renewables that need (mainly Russian) natural gas as a baseload, but that the biggest winners of this – Read more…


Ukraine and markets

Markets gyrated heavily last week, commodities spiked, then stalled, while equities sold off and then bounced. Vix was little changed suggesting that asset allocators were already hedged and there was little follow on selling after CTAs went short. Bonds (as Read more…


COPs and Robber Barons

As COP26 turns into a sort of Glastonbury for ESG funds, nobody seems to have noticed that all the big energy users have already committed to ‘new nuclear’ already and thus it is the collection of Robber Barons from Finance, Read more…