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The Russia-Ukraine war will further exacerbate supply chain problems affecting commodity prices as well as energy-dependent and related industries. Delivery times and input price growth eased, but material and labor shortages are at the historical highs in the EU in industry, construc...
The U.S. has experienced five oil price shocks since 1970. The average oil price shock has been a 127% price increase over an 11-month period. My analysis indicates that the stock market does decline because of oil price shocks, on average falling 23%, before reversing. Unders...
March PMI data will therefore be scrutinised for the impact of these events on various economic metrics such as output, supply chains, prices and upon the sole sentiment PMI sub-index - the future output index. Since the eruption of the Ukraine crisis on February 24, commodity prices ...
Although Druzhba is an established supply route to Europe, the connected refineries could likely face disruptions if Europe avoids Russian oil or if the pipeline is shut down for any reason. Alternative supply routes are available through the Baltic Sea. The Plock, Schwedt, and Leuna ...
Russia’s invasion of Ukraine, with its tragic human toll, likely marks a turning point for the geopolitical and global economic order. Will financial sanctions backfire and accelerate the displacement of the US dollar as primary global reserve currency? We are likely to see...
This past week marked the 13th anniversary of the bottom of the Global Financial Crisis (GFC) of 2007-2009. The March 6, 2009 stock market low for the S&P 500 marked a staggering overall value loss of 51.9%. The Fed was expected to raise interest rates by as much as 50 basis point...
The economic implications of Russia’s war are potentially large and global. Domestic Chinese spending will be hit, owing to higher petrol and food prices that dampen consumption. Russia and Ukraine account for 14% of global wheat production and 30% of global wheat exports. ...
The last time commodities outperformed global equities in a consecutive two-year period where returns were positive for both asset classes were back in 2004-2005. The brent curve has broadly remained in backwardation since the beginning of 2021 as OPEC+ began to curtail production to ...
We see the Ukraine war reducing global growth, increasing inflation and putting central banks in a bind. We prefer developed stocks in the inflationary backdrop. Stocks led by European equities bounced from 2022 lows last week, as oil prices came off highs. The European Central Bank a...
The world may be trying to unplug the Russians from the global financial system, but there will be unintended consequences, the bulk of which we have yet to see. Oil could take out its 2008 high of $150 per barrel, and there are spillovers in other commodities - not just nickel - due ...
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Barclays Bank PLC ZC SP ETN REDEEM 18/04/2041 USD 50 - 06740P221 Company Name:
OLEM Stock Symbol:
NYSE Market:
Barclays Bank PLC (“Barclays”) announced today that it plans to change the ticker for its iPath ® Pure Beta Crude Oil ETNs (the “ETNs”) which are currently listed on the New York Stock Exchange under the ticker symbol “OLEM”. The current and...
Barclays Bank PLC (“Barclays” or the “Issuer”) announced a temporary reduction of the minimum early redemption size of certain series of ETNs as specified in the table below (together, the “ETNs”). Currently holders of the ETNs are required to redeem...