A quiet end to August but look out for that first week in September
I think you’d be wise to hold onto your hats (or pants or knickers or whatever) come Tuesday and the end of the Labor Day holiday in the United States. Not only will everyone on Wall Street be back to work but also the news flow looks extremely heavy.
War in the Ukraine by another name
Everything is in motion this morning as the conflict in Ukraine moved toward an all-out, but thoroughly denied, invasion of the east of the country by Russian troops, tanks, and artillery.
Ukrainian relief rally likely to be short
Global markets have reacted with relief that the sanctions so far put into place following Sunday’s Crimean referendum have been so mild and limited. But I think the relief is likely to be short lived. Current sanctions and a likely second round of restrictions are unlikely to restore the prior status quo.Instead it’s a question of whether they are enough to prevent Russia from moving further into the Ukraine.