Macro Mondays Ukraine strikes and the state of sanctions
19 snips
Jun 3, 2025 The discussion kicks off with Ukraine's audacious drone strike on Russian air bases, setting the stage for shifts in global markets. Rising commodity prices, especially in oil and metals, come under scrutiny as geopolitical tensions escalate. There's a deep dive into Europe's soaring defense budgets, particularly Denmark's significant increase. Macro trends reveal concerns about the U.S. budget deficit and its effects on bond markets. Finally, trade policies from previous administrations are analyzed for their lingering impacts on tariffs and market strategies.
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Symbolic Ukrainian Drone Attack
- Ukraine's drone attack on Russian strategic bombers is highly symbolic but doesn't alter frontline realities.
- The attack pressures peace talks but mainly serves to show increased Ukrainian audacity and Western backing.
Commodity Spike Amid OPEC Supply
- Commodity prices spiked due to geopolitical risks reigniting with Ukraine's drone strikes.
- This comes amid OPEC steadily increasing supply, making the timing peculiar for potential US energy sanctions.
Dollar Weakness Linked to Sanctions
- The weakening dollar despite increased geopolitical risks reflects concerns over seizure of Russian assets.
- Asset freezes triggered caution among global South countries about sanction risks, contributing to dollar weakness and gold's rise.