The Daily Shot Brief – February 28th, 2022

Greetings,

 

Equities: Western nations revoked access to SWIFT for major Russian banks. While some efforts were made to carve out energy-related payments, many private entities will refuse to transact with Russian institutions until there is more clarity on the situation. For now, sales of most commodities will be challenging for Russia.

Source: Reuters Read full article

Brent crude surged 5%.

Source: The Daily Shot

And European natural gas is up over 30%.

Source: The Daily Shot

 

Emerging Markets: The ruble plummeted at the open today.

Source: The Daily Shot

The central bank hiked rates to 20% (an unprecedented increase) to stem the ruble’s decline. For now, it’s not working.

Source: The Daily Shot

 

China: Viewed by the market as a safe-haven currency, the renminbi continues to climb.

Source: The Daily Shot

 

United States: Real consumer spending is back on the pre-COVID trend.

Source: The Daily Shot

 

Equities: S&P 500 futures liquidity has deteriorated.

Source: Deutsche Bank Research

 

Food for Thought: Russian-occupied Ukrainian territory:

Source: Reuters Read full article

Edited by Daniel Moskovits

Contact the Daily Shot Editor: Editor@DailyShotLetter.com


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