HIGH STAKES: European Central Bank (ECB) is close to raising interest rates for first time in a decade as it faces a yawning disconnect of 8% inflation and -0.5% rates. This is...

PRICES: Carbon prices have been consolidating after a 2021 surge, but development is accelerating under surface. It’s a big week for Europe’s adoption-leaders, with expanded ETS*...

GROWTH: IEA data shows Q1 global electric car (EV) sales up 75%, taking world fleet to 18.5 million, driven by policy support of subsidies and mandates, and industry action on new...

ETH: Ethereum (ETH) is the 2nd largest crypto asset, at 18% of total market cap, and first (2015) and largest smart contract ‘software’ platform. It’s the native token of this...

THREAT: Brent oil back over $115/barrel, with OPEC+ to keep supply tight, Russian sanctions extended, and China growth fears easing. Futures are bullishly heavily backwardated....

The Fed response: We don’t think a ‘Fed put’, of measures to limit the equity market decline, exists today or at these levels. The tightening of financial conditions is doing much...

BIG QUESTION: Whether we see an economic slowdown or recession is the key question for the $25 trillion US economy and global markets. A slowdown would leave corporate profits...

IDEA: Scandinavian stock markets have a long-term outperformance record (see chart), with a Nordic market the top developed world performer 7 of the past 15 years. This punches...

CRACKS: US housing is its least affordable in forty years, per our US housing ‘misery’ index (see chart). This combines the 20% surge in average house prices with over decade high...

FEARS: Food fears are running high, with wheat 20% total global calories, and prices up 40% (WEAT) this year. Many see the food price shock as more significant than the oil spike,...