Executive Summary Equities Are Still Attractive Versus Bonds Macroeconomic Outlook: Global growth will reaccelerate in the second half of this year provided a ceasefire in Ukraine is reached. Inflation will temporarily come…
President Biden authorized the release of 180mm barrels of oil from the US Strategic Petroleum Reserves to cool inflationary pressures from surging oil prices. The release is planned to be at the pace of 1mm barrels per day over…
Executive Summary Europe Is Russia's Key Gas Customer Full-on rationing of natural gas by Germany took a step closer to reality, as the standoff with Russia over its insistence on being paid in roubles for gas plays out.…
Executive Summary Petrocurrencies Have Lagged Terms Of Trade Petrocurrencies have lagged the surge in crude prices. This has been specific to the currency space since energy stocks have been in an epic bull market.Both cyclical and…
Due to travel commitments, there will be no Counterpoint report next week. Instead, we will send you a timely update and analysis of the Ukraine Crisis written by my colleague Matt Gertken, BCA Chief Geopolitical Strategist. Executive…
The price of a barrel of Brent crude oil climbed more than 7% to $116 on Monday. The big move higher highlights that geopolitics continues to inject supply uncertainty which is driving up the risk premium priced into oil markets…
Executive Summary Ebbing Stagflation Fear Will Prompt Rerating European inflation will rise further before peaking this summer. Core CPI will reach between 2.8% and 3.2% by year-end before receding. The combination of…
Executive Summary Higher Prices Expected Global oil supply will move lower for a few months, until shipping can be re-routed and re-priced in response to sanctions against Russian oil producers and refiners. In the…