Equities are the new toilet paper

Equity markets appear to have long been disconnected from the dire economic reality caused by the pandemic; with stocks near all-time highs, while the economy is still running significantly below its potential capacity. One of the reasons for this divergence has been the unprecedented fiscal and monetary support, which has made it possible to avoid … Continued

Oil Trading in Imaginary Numbers

Oil prices plummeted yesterday, with the future of the WTI for the first time in history trading in negative territory Despite the vertigo produced by seeing negative prices, these can be explained by a combination of both fundamental and technical factors. Furthermore, it is reassuring to see that both Brent crude prices and long-term future … Continued